How much rent?

NotSoWise

I think it is important to pay a 'going' rent if living with parents. It will help you budget and make you realise that some payments are regular and should be met.


I have a son living with me. I have agreed that part of his rent will go back to him once he leaves home but that the rest will be used by me for payment of utilities etc.

He cannot touch the part that I have decided will go back to him nor can he ask for it to be loaned.

rictus123

Well what i meant was im moving out anyway? So il be paying half with my gf.So low costs now but soon be high costs and the low costs now will be a great help to me when that time comes.

The_Palmist

Unless your parents really need the money of you, I would suggest you open a regular savings high interest account in their names and pay about £200 every month for as long as you.
The very fact that you have bothered searching forums speaks for itself. I hope you maintain some financial discipline.

hazyjo

The_Palmist wrote: »

Unless your parents really need the money of you, I would suggest you open a regular savings high interest account in their names and pay about £200 every month for as long as you.
The very fact that you have bothered searching forums speaks for itself. I hope you maintain some financial discipline.

Can't open an account in someone else's name. Surely he'd just pay it direct to them.

Are you saying it's a good thing, or bad ('searching forums')? Not clear at all. He always said he was going to pay rent, just wanted an idea of what people considered fair. For all you know, he was planning on more and the parents were thinking just a token amount. Don't really get the 'financial discipline' comment. Do you not think he's disciplined with his finances?

Ah well, not important. Just wanted to clarify.

Jx

SandraScarlett

Quinny92 wrote: »

I'm 18 and about to start an apprenticeship. My parents expect me to pay rent, which I completely agree with, but we can't decide how much. I will be earning £700 a month, paying £200 toward my car each month and £25 for my phone bill. Which leaves me with £475 for rent and general expenditure. Please can you advise what you think a fair amonut of rent per month is?

First of all, well done Quinny on getting an apprenticeship. When I was first working (about a million years ago!), everyone I knew did the same with their take home pay - a third to spend, a third to save and a third to your Mum.

By the time my kids had started work, and had to pay a bigger proportion for their fares, I suggested that whatever their annual salary was, before deductions, they knocked off the last 2 figures and paid me that a month. My daughter's first job was £3,500 a year, so she paid £35 a month, but by the time she left home, she was on £12,000 a year, and paid £120 a month.

Every penny she ever gave us was put into an account, unbeknowns to her, and when she bought her first flat, she was staggered by the cheque we were able to give her, towards her deposit, and my son was treated exactly the same. Every family works these things out in a different way, there's no right or wrong way, and whereas I provided all meals, including packed lunches, other families might not.

I hope this helps and every success to you in your career.

xx

nortonlane

£30 a week! That is what every 18-21 I know pays:)