Should I charge DS rent?

head2head83

Quick post and run for me, but my parents charged me 'rent' while I working (£100 a month I think) and then gave it back to me when I was going to university to do an MA. They didn't tell me this in advance, but it worked quite well as it meant that I had inadvertently been saving a little while I was living at home.

Might something like that work?

I see some people have already suggested something similar!

neneromanova

I personally would charge him 1/3 of his weekly/monthly wage so that he can realise that that's how much you have left over after rent is due and to save the money he has left over for car/booze/jolies out. Then, as you say you don't need the money, put it into an account for him for later life. But you'll have to do the same thing with his younger brother so no favoritism is shown.

scooby088

I think it teaches you self reliance, i can understand those parents that keep and save the money but in the end isn't that just another free ride the child has been given. But if you don't want any rent money why not get some shopping in or pay a bill.

inkie

If I were you - I would be charging him £20 per week board. Whether you need the need the money or not is a bit immaterial. What is important that he gets used to having to budget and honour financial commitments. What I would be tempted to do was put the money to oneside as far as possible and then give it him back at the end of the course. It'll be an eye opener for him for what can be achieved when being prudent.

FATBALLZ

I don't get the charging 1/3 of his income idea, if we're saying the idea is that charging rent teaches them that things cost money, should we not also teach them that the more they earn the more disposable income they'll have? Rather than swiping a slice of it for yourself.

I'd agree that for training wages not to charge anything as it's still education, otherwise if it's a proper wage then come up with some sensible figure and stick to it.

janninew

scooby088 wrote: »

When i first started work at 16 i was £80 per week i gave my mother £25 per for my keep it does stand you in good stead and i was allowed to keep my first weeks wages. As i see it i had a free ride for the first 16 years of my life, so i needed to man up and start contributing to the household.

I think under 16's can be forgiven for having a 'free ride' in life! Some parents need their children to get cash to survive!

OP, I like the idea of saving the money, I would let him be responsible for it though. He should contribute to his food and obviously pay all his own transport costs etc.

make_me_wise

the_cat wrote: »

So do I charge rent?

Yes and you wont be showing favouritism. If you asked for a small token amount as a contribution to the hosuehold that would not be unreasonable. Say around £20 per week. This would still be you massively supporting him.

He could not live anywhere else and be as well looked after and afford to do his apprenticeship. It is never to early to make your kids moneywise, all part of growing up and being worldly.

Mojisola

the_cat wrote: »

He is a sensible lad with money and is likely to save for himself out of that

make_me_wise wrote: »

It is never to early to make your kids moneywise, all part of growing up and being worldly.

It sounds as if this particular lad is already moneywise.

mountainofdebt

Well as previously been posted I will be 'charging' Junior £20 a week when he finishes his A levels in June as well as expecting him to save half his salary.

I'm not sure whether this will also be saved for him at the moment. (Bad Mummy!)