how much board should I charge

Justie

As others have said I would look at what it would cost her to rent a room privately and making allowances for her sharing a room if it includes bills, food etc then I'd keep it at the going rate. If you can then put some of that aside as savings to help her when she moves out but that's not necessary to do just a nice thing if you can afford it. She's earning good money so she should pay her way.

And foxy I love the idea of saving the child benefit - I need to see if we can afford to do it but it should be possible. Thanks I'd never have thought of it :cool:

Kimberley

foxy-lady wrote:

DD is only 11 but she already knows that she will pay 25% of her gross income when she is working. She is less likely to throw a strop as she is expecting it. She doesn't know however that it will go into her secret house fund along with her child benefit since she was born. SSShhhh! xxx

Wicked!

My daughter is 14 and i wish i had put her part of child benefit into a secret house fund for her from birth.. bah!! Hmm i wonder how much it would be, i'll have to calculate it back not that i can afford to reimbirse her :eek: I can start from now though and the boys :eek: gulp!!!

I'll defo start from the moment they give me board though and they do know now how much they will be contirbuting if they stay on at home whilst working, though daughter wants to go Oxford :eek: but not until she stays on school until 19 first, if thats possible, not sure how old they have to be

Allison

We have already been talking this over. We have three children and have decided our way of doing it is to charge them 20% of their income whatever that might be. This will stop any rows about who pays what etc and as my three kids are spread over 10 years that sorts out inflation also

So on £200 per week mine would be paying £40. They are also aware then that if they get a pay rise then so do I

Id like to also add that we are hoping that all of the kids will come out of school and go back into education and therefor only work part time if at all. The 20% thing then also applies, if they just work a few hours and bring home £50 a week say then £10 of that would be ours.

I read somewhere that the norm to charge kids rent was between 15/25% of their wage. How right that is I dont know.

Kimberley

Allison wrote:

I read somewhere that the norm to charge kids rent was between 15/25% of their wage. How right that is I dont know.

Do you charge them 20% or whatever you charge from their wage after deductions or before????

jrrowleyws

Allison wrote:

We have already been talking this over. We have three children and have decided our way of doing it is to charge them 20% of their income whatever that might be. This will stop any rows about who pays what etc and as my three kids are spread over 10 years that sorts out inflation also

So on £200 per week mine would be paying £40. They are also aware then that if they get a pay rise then so do I

Id like to also add that we are hoping that all of the kids will come out of school and go back into education and therefor only work part time if at all. The 20% thing then also applies, if they just work a few hours and bring home £50 a week say then £10 of that would be ours.

That seems rather backwards, if they go back to education they are going to need the money they earned over the summer, either now or to save for university. If you take it away then they are going to need to work more to get by and therefore mabe compromise their education.

Fair enough charge rent when they are working full time having finished education, IMO I wouldnt deplete their hard earned savings if they are just working for the summer holidays!

sportbeth

When I got my first job at 18 I took home £460 a month. Out of that I had to give my dad £160 a month or £40 a week.

pollyanna24

I'm 25 and charge my little brother in law £120 a month. I wanted more, but bf wouldn't have it. He earns about £900 a month and he thinks he is getting a bad deal!!!! :mad: Love to see go out in the real world!

Have another lodger coming soon. He is 24 and he is getting the bigger room for £200. Again, bf sorted this out and I think it is ridiculously low amount. I'm all for helping friends and that, but come on!

System

sportbeth wrote:

When I got my first job at 18 I took home £460 a month. Out of that I had to give my dad £160 a month or £40 a week.

My first job many years ago i used to get £25 a week and i used to give my Mom £15. I walked to work and the rest was saved towards my wedding. It was a good job my fiance earned more than me or we might not have been able to have afforded to have got married at all..... but then again, he is now my ex so i spose it would have done me a favour.:rolleyes:

belfastgirl23

Let us know how you get on

Oldernotwiser

I don't know where some people get the idea that £40 is the "going rate". Round here people who offer lodgings to foreign students charge £70 per week for a shared room. You might not want to charge your daughter that much but £40 is still a bargain. Many people's comments about how much they used to pay may relate to some years' ago rather than today's prices.