Charging rent for my 16 year old

Jodie+Matt

When I was in 6th form my parents matched my savings, I think it's the best way to encourage saving when the child is on a very low income as they seem to have to scrimp by and tiny amounts of savings don't seem to add to much. It just builds it up faster and made me enthusiastic about saving. I still love saving up and have 20 a week going into our savings. Account and 10 each into our daughters accounts, with the savings plus the odd birthday Christmas money that goes into their accounts, by the time they reach 18, they will have 10grand or more each. So in my opinion the match what they save idea is brilliant for funds for uni plus his future feelings towards saving

podperson

I don't think you should be charging him rent as I'm guessing you still get CB/tax credits for him but if he is getting EMA then he should be paying for his own school/college expenses out of that and his personal ones - eg phone, treats, going out from his Saturday job. I would only be providing his 'essentials'.

Helping him learn to budget now will stand him in good stead for when he wants to move out/go to uni etc. - rather then taking x amount off him in one and then paying for his expenses then he can see where his money is going. I would try and encourage him to set something aside in savings, it's great if you can get them into that habit young!

claire16c

There is no way you should be charging him rent, hes a child! And its not like he is old enough to rent his own place, so its hardly a case of pay us or pay a landlord- which would be the case if he was 25 or something!

I would just be suggesting/forcing him to save a percentage of his Saturday job money - so he can pay for driving lessons when hes 17, or for Uni etc.

It doesnt seem right at all to charge a child rent, when you already receive benefits for them. Theyre not a money making machine for you.

He can use his EMA for school related stuff and then use his Saturday job earnings to pay for his own fun stuff.

If you want him to save thats fair enough but dont try to cover it up by pretending its rent money. Im sure it would go down much better if you just sat down and talked to him about saving, rather than a pretence about needing money off him for rent.

thehappybutterfly

I wouldn't charge him rent - like others have said, he's a dependant child. I think he's being quite sensible with his money if he's buying his own clothes. You can maybe also make him pay his own bus fares and toiletries too. When I was 15 and working part-time (earning about £40 a month), my dad took all my money off me and left me with £5 a month to buy all my clothes (except school clothes) and toiletries (including 'ladies things'). According to him, that's what paid for my Xmas presents and family holidays. No wonder we all hated him.....

flea72

Wyre wrote: »

It gets worse when they go to uni - no benefits for them, no maintenance and you are still expected to support them! Teaching him to budget now will help him immensely at uni - he won't be the one running out of cash at the end of term and living on pot noodles hehe.

If the OPs son is in receipt of EMA then he shouldnt have money worries, nor the need for parents to support him financially whilst at uni, as he will be getting £7k+ a yr in maintenance

Bamama

Talk about savings while he's still in college. Perhaps chat about bills and things. I had no idea how much stuff cost! Once he's out off college then explain he'll need to help out as you won't be getting money for him any more.

I paid £15 a week to start and that was out of my dole money... jobs were few and far between. This increased to £50 when I was working and we moved in with my now step-mother and sister. She was working full-time and I was only part-time. We paid the same, which was a lot for me but taught me to save.

My father always told me that if you don't have, you don't get. Which works very well as I've never had to borrow money and my bank account has never had an overdraft.

Jamie_Carter

19lottie82 wrote: »

£120 a month?! Thats half of his income!

OP, when you say disposible income, I take it he still has to cover all of his college expenses, inc lunch and travel? Then clothes, mobile phone and entertainment on top of that?

Charge him something, but 50% of his income is far too much (even if you are giving it back to him )

I'd try £50 a month.

Disposable should mean what he has left to spend on himself after paying all of his expenses that you mentioned. So 50% of his disposable income is probably about right, as it will teach him to be responsible with money.

codeshopper

If you feel guilty charging him at all, talk about it with him. Ask him that the money will go to his own funds/savings which he can use in the future. It would also make him more responsible in money management and ask him how much he can able to set aside for the rent? Not too much that could hurt his allowance.

pinkyXstary

My opinion is that you shouldn't be charging him rent.

At 16 he is still a child. As parents we subsidize our children until they become adults. If you are claiming 'child' benefit for him then why do you want to make him pay rent? If he was 19 and in full time or even part time work I would back you up and say absolutely he should pay something, but whilst he is still in education and you are still claiming from the government for him I think it's pretty selfish.

Just my opinion and don't want to cause offence

x

andfear_2

This might sound odd but what about not taking rent but saying he has to pay for driving lessons? My mum was desperate for me to drive and its so expensive to learn and a skill to rely on.

Just a thought.