Family and rent

ca55ie

I used the same rules my parents applied - 1/3 earnings for board, 1/3 save, 1/3 do as you like with.

I used to save the money they gave me and when they set up their own homes gave them the lump sum to help with costs etc.

RAS

Either one fifth of the household expenses (and a bit more for the 21 year old to cover his family) or one third of their take home pay. I always paid one third of my wage.

Lagoon

I paid £50 a week from 16 onwards. Not sure I'd charge that much but I'd definitely want to charge a significant amount even at 16. By the time they're over 21, at least £50 a week. They should be able to afford their own rent by then.

DRP

Nicky321 wrote: »

When I first left school I went onto a YTS (28 years ago) was on £25/week, gave my mum £10, left me with £15 for travel exp, saving and myself

Ive worked out the utility bills, tv, water, council tax, food etc and when divided by 5 its coming to £150.00 approx, ATM the 2 eldest give me £36/week roughly the youngest doesn't pay . I think ive been too soft, as the 27 year old moved out for 4 years, and came back last Feb for 6 months and is still here 14 months later.

It sounds like there has been a discussion about rates for lodging at some point so your kids seem to be ok with the idea in theory (where did 36p/w come from?).

Now you need to get that discussion going again and update the numbers (inflation!).

That is a big expensive household of working adults you have there and an appropriate contribution from everyone would lighten the financial load a lot...

Nicky321

DRP wrote: »

It sounds like there has been a discussion about rates for lodging at some point so your kids seem to be ok with the idea in theory (where did 36p/w come from?).

Now you need to get that discussion going again and update the numbers (inflation!).

That is a big expensive household of working adults you have there and an appropriate contribution from everyone would lighten the financial load a lot...

Since my 27 y/o moved back she offered me £160/month, so she could save to move out again. So when my 21 y/o started work last year they gave me the same. My 18 y/o works 2 jobs with the 1st job being variable hours, and the 2nd job she is covering for me 6.25hrs/wk while I am recovering from my op, so not sure how long this will last. I feel like increasing the amount to £175/month but not sure if they will think its too much.

OddballJamie

Have 15% off each of them. Use two thirds for bills/food, then put a third of this into an account which they get back when they move out.
You will be thanked for this when they need to buy furniture or pay a deposit in the future.

Working as a percent rather than a fixed amount will be fairer to all of them and encourage the older ones (who should be earning more hopefully) to move out sooner.

Nicky321

At one point when my now 25 yo was living at home, i took 23.54% of their take home income, as this was a figure I had worked out from losing benefits as they left school and became employed, I agree that i should take a % of each of their take home income as this is fairer, especially as my 21 yo take home pay differs monthly due to overtime, and my 18yo differs due to hours worked. I think I need to get them all sat down together and give them an ultimatum!

missyp284

I had to move back home in December after relocating for work and now moving back to my home town.
I'm paying £500.00 a month to my mum along with £200.00 a month in storage fees.

You lot are way too soft :eek:

Bufger

It sounds as if you learnt the value of money but never gave those hard lessons to your kids. They do need to learn the value of it, they need to learn everything costs something! Its probably too late to do it without alot of kickback.

Are you ok with them going out 5 nights a week and you cant afford the time or finances to go out once a week? doesnt feel fair to me.

I paid my parents £20 per week when I was on £80 per week. Now my outgoings for my family are £1600 per month I know what value I had back then!

Oxid8uk

After I finished uni and landed my first job I had to pay £40 a week. My parents told me I could live at home for one year after finishing uni, after which I would have to move out.

Tough love but at least it made me grow up and appreciate the value of money.