Teenagers Allowance

Andypandyboy

Newlyboughthouse wrote: »

This will probably not be a popular opinion, but I speak from experience.

My parents stopped supporting me at 16 when I got my first 'proper' job. I mean completely. My Dad bought me 10x driving lessons and on my way. I bought my own first car, insurance, remainder of lessons, tests. I moved to my first flat at 16. I could not be more grateful to them for this.

At 27 I own my home by myself, have a good degree, have been travelling all round the world by myself, am highly likely to get my mortgage paid off within the next 5 years.

Surrounding me are spoilt kids with no clue about finances, no real independence and no life experience. Their parents indulged them for way too long. Please stop. I'm not a parent so it's easy for me to say, but I say cut them off at 16 and let them make their own way. Their lives will be so much richer and they will feel SO much prouder having achieved everything ON THEIR OWN

We have kids who have achieved similarly, but they still had our full support through university. You are an example of one way, there are other ways;)

I agree with the poster above, 16 is way to young to be cut adrift for most young people.

Well done to you for working long enough hours to pay market rent, put yourself through University, go travelling and buy a house all by 27, you have indeed packed it all in.

Newlyboughthouse

Andypandyboy wrote: »

We have kids who have achieved similarly, but they still had our full support through university. You are an example of one way, there are other ways;)

I agree with the poster above, 16 is way to young to be cut adrift for most young people.

Well done to you for working long enough hours to pay market rent, put yourself through University, go travelling and buy a house all by 27, you have indeed packed it all in.

To be fair I always house shared, so rent was always pretty cheap, and I did a 'mature student' Uni degree so got a grant for that. I can see how if your kids go to Uni which costs a bomb then you may want to support.

Andypandyboy

Newlyboughthouse wrote: »

To be fair I always house shared, so rent was always pretty cheap, and I did a 'mature student' Uni degree so got a grant for that. I can see how if your kids go to Uni which costs a bomb then you may want to support.

Mature student degree and you are only 27 now! So, you must have been 23 or so? How old do you have to be to be classed as a mature student? Out of interest how did you get a grant? Was it an NHS related degree? Maybe going at 18 is not the way forward!

Newlyboughthouse

Was a law degree which I did part time over 4 years. Graduated back in 2011. As a part-time undergraduate student, who is studying at least 50% of an equivalent full-time course, you can apply for grants to help with the costs of your study. How much you get will depend on your household income. I got full grant + extra for cost of textbooks etc. http://www.studentfinanceni.co.uk/portal/page?_pageid=54,1268443&_dad=portal&_schema=PORTAL. It's a wonderful scheme! Best thing is absolutely nothing to pay back so no debt woooo

zagfles

Newlyboughthouse wrote: »

This will probably not be a popular opinion, but I speak from experience.

My parents stopped supporting me at 16 when I got my first 'proper' job. I mean completely. My Dad bought me 10x driving lessons and on my way. I bought my own first car, insurance, remainder of lessons, tests. I moved to my first flat at 16. I could not be more grateful to them for this.

At 27 I own my home by myself, have a good degree, have been travelling all round the world by myself, am highly likely to get my mortgage paid off within the next 5 years.

Surrounding me are spoilt kids with no clue about finances, no real independence and no life experience. Their parents indulged them for way too long. Please stop. I'm not a parent so it's easy for me to say, but I say cut them off at 16 and let them make their own way. Their lives will be so much richer and they will feel SO much prouder having achieved everything ON THEIR OWN

But you seem to assuming people can't achieve those things if their parents support them. Of course they can. I did, I've been travelling around the world on my own or with friends my age since I was 14, I bought my first house at 24, I understand finance (I was one of seemingly few people of my generation not to be daft enough to get an endowment!) and I'm on course to retire in my early 50's (if I want to).

And other than a very brief supermarket job (of the type they'd never allow kids to do these days - clambering the racking in a warehouse :eek:) I didn't work till I got my first graduate job.

The govt gives students grants and maintenance loans to support them through uni for a reason, and for the same reason I'm prepared to support my kids through college.

But the crucial point is they get a budget and pay for everything themselves, they never come to us to ask for anything they want or need, they pay for it themselves out of their allowance so they learn to budget and manages their finances.

And they're very good at it - for instance they have friends whose parents pay silly amounts for a mobile contract, like £30 a month or something with a "free" phone. My DD got a smartphone for £80 or so a couple of years ago and has probably topped it up with £30 or so in those 2 years - with free WiFi practically everywhere and messaging apps rather than texts she hardly spends anything on it!

Skinto_7

I am amazed at the number of parents who fund their kids life and, althoughit wont be popular, probably goes some way to explaining the spoilt, lazy generation that seems to be coming through at the moment.

I am 30 now and when i was growing up had a number of jobs, from paperboy,milkboy to working in shops while i was at school and uni, any money my parents gave me was earned (i.e for cutting the grass, washing the dishes etc) It taught me the value of money and the principle that if you want something thebest way to get it is to earn it.

I have had a number of trainees and graduates who have come to work for me and the vast majority wouldn’t know a hard days graft if it slapped them in the face, although it was only 10 years ago that i was making my way in the world of work (career wise), the change in attitude from the guys i came through with to the people coming through now is noticeably different.

At the risk of completely tarring everyone with the same brush, The new generation seem to alot lazier, and have a sense of entitlement and alot of this seems to stem from how they are treated at home, where alot of them seem to rule the roost and where they are not being taught the value of respect,money or hard work.

I am not saying you should not help your kids if you can, but just handing them money without them having to anything for it, seems a bad lesson to teach them, there are not many jobs where that will happen!!

GoldenShadow

I find the Oxbridge conversation interesting. Weirdly, the majority of Oxbridge people I know haven't actually done very well for themselves. They genuinely lack social skills to some degree and the ability to come across well. I work with a lady who went to Oxford and she was jobless for a good few years after graduating. Meanwhile I went to a crappy local uni, got a First, worked part time since I was 15 and went straight into the same grad job as her (she applied for it three times and hadn't managed to get any other grad job, I had this and two other offers). I think it really is quite person-dependent...

Maybe I know the bulk of the minority who go there, but from my experience I wouldn't encourage my friends/family to apply there. My school wanted me to apply and I said no. Didn't go down well, mind.

Newlyboughthouse

zagfles wrote: »

But you seem to assuming people can't achieve those things if their parents support them. Of course they can. I did, I've been travelling around the world on my own or with friends my age since I was 14, I bought my first house at 24, I understand finance (I was one of seemingly few people of my generation not to be daft enough to get an endowment!) and I'm on course to retire in my early 50's (if I want to).

And other than a very brief supermarket job (of the type they'd never allow kids to do these days - clambering the racking in a warehouse :eek:) I didn't work till I got my first graduate job.

The govt gives students grants and maintenance loans to support them through uni for a reason, and for the same reason I'm prepared to support my kids through college.

But the crucial point is they get a budget and pay for everything themselves, they never come to us to ask for anything they want or need, they pay for it themselves out of their allowance so they learn to budget and manages their finances.

And they're very good at it - for instance they have friends whose parents pay silly amounts for a mobile contract, like £30 a month or something with a "free" phone. My DD got a smartphone for £80 or so a couple of years ago and has probably topped it up with £30 or so in those 2 years - with free WiFi practically everywhere and messaging apps rather than texts she hardly spends anything on it!

No not assuming people can't achieve these things if their parents support them. But the posters immediately before this one have a good point - the generation of today are largely lazy and expect things on a plate if their parents have indulged them. I suppose there's a difference between supporting and indulging. But all I'll say is, I'm so glad I supported myself because I can genuinely say I achieved these things on my own and feel so proud of that fact.

Ziggazee

I'm very surprised at the comments of people who think that 16 is too young to be cut off from their parents finances.


In my day we left school at 16 and got a job. That was it. Very few of us went onto further education (I'm only talking in the 80's btw). I started my first full time job (I'd worked at a weekend since 13) immediately after leaving school. I earned £50 a week and my mother took £25 of that. When I moved up the ladder and earned £85 a week, she took £35. She never paid for anything else other than providing an evening meal (tho in reality this was often just a jacket potato waiting in the microwave as they'd all eaten by the time I got home from work).


At 17 and a half she told me to leave the family home and find my own flat. I did......and went on to purchase my own property without any help from any of my family whatsoever.


You're really not doing your children any favours by indulging them so much. I understand it's difficult......trust me, it was a very difficult decision for me to stop giving my son spending money, but what incentive did he have to get up and work if I was providing everything for him.


Don't say you haven't been warned :-)

Jagraf

Ziggazee wrote: »

I'm very surprised at the comments of people who think that 16 is too young to be cut off from their parents finances.


In my day we left school at 16 and got a job. That was it. Very few of us went onto further education (I'm only talking in the 80's btw). I started my first full time job (I'd worked at a weekend since 13) immediately after leaving school. I earned £50 a week and my mother took £25 of that. When I moved up the ladder and earned £85 a week, she took £35. She never paid for anything else other than providing an evening meal (tho in reality this was often just a jacket potato waiting in the microwave as they'd all eaten by the time I got home from work).


At 17 and a half she told me to leave the family home and find my own flat. I did......and went on to purchase my own property without any help from any of my family whatsoever.


You're really not doing your children any favours by indulging them so much. I understand it's difficult......trust me, it was a very difficult decision for me to stop giving my son spending money, but what incentive did he have to get up and work if I was providing everything for him.


Don't say you haven't been warned :-)

What about if you do go on to further eduction? Well, actually, I believe you have to now.

My dad went down t'pit at 15 ad worked extremely hard to get where he today. I'm in my forties and he has helped me in the past too, and I hope I can help DD. I'm not taking about mollie coddling, but 16 is young nowadays.

I agree with the lazy generation, teens think they can walk into a job and do what they want.

There is a happy balance hopefully.