Housekeeping money to your parents/from your children

AubreyMac

I only paid my parents what the council was charging me. Only when money was really really tight my parents asked for help with paying utilities but this wasn't often. I brought my own food and furniture for my own room then though. Now that I own my own home, I really appreciate their help as it enabled me to save a lot of my salary towards a deposit for my flat.


My friend's oldest son is 14 so not too long before he starts earning his own money. My friend believes in charging housekeeping as it teaches kids about outgoings, paying for essentials and disciplines them with finances. Her partner thinks charging your children (regardless of age) is a bit mean as it's the parents job to provide if they can. In the end they agreed they will take house keeping money but will secretly put this aside and will return it to him in a lump sum when he's ready to move out or when he needs it.


What did you do with your parents and what do/would you do with your kids?

AndyBSG

For my first job I had to pay £30 a week, which was quite a big chunk considering I only earned about £110!

My brother and sister on the other hand who are much younger only really paid token amounts but that's mainly because my parents were much more financially comfortable then.

My daughter will be paying housekeeping even though we don't really need it because I think it's important to teach them about paying bills and not expecting a free ride.

That said, I may just set up an account to put it in and when it comes time for my daughter to buy her own house it'll make a nice surprise gift for her towards the deposit... Or I may just spend it on a flash car!

pollyanna24

My parents charged me, my brother and my ex £100 a month. This was late 90s/early 00s.

I'm not sure when it comes to my two as they are only 7 and 5 at the moment. If I could, I would like to put money in an account for them, but who knows?

onomatopoeia99

When I was working full time in the school holidays after my O levels (30 years ago) and subsequently during holidays while studying for A levels, I was paying £25/week out of £82. I didn't work during term time, but I did have a "year off" before university, during which I worked full time at the same place and paid the same housekeeping.

When he was the same age my brother worked in a shop on Saturdays and didn't get charged any housekeeping, but he was on quite a bit less than £2/hr. He got his driving lessons paid for, I had to pay for my own as I had more money.

My housekeeping money went into a separate bank account and was used toward paying the "parental contribution" part of the grant when I was at university.

Pollycat

My Mother took my wage packet from me and gave me my bus fare and 'spending money'.

That was very early 1970s and I was 17 and earning a decent amount.

I didn't mind paying board but I resented the way she did it.

It made me very careful with money and that stood me in good stead throughout my working life.

That's not why she did it though and I couldn't wait to leave home.

Marktheshark

The day they start fill time work, they are not children and making them pay their way teaches them about hitting the ground running in life.
A lesson that sets kids up to be adults.
In the grown up world there is never a free lunch in life.

LilElvis

Neither my sister or I paid anything to our parents, but they could afford to continue to feed and house us. They were happy to do this as they knew we were both saving hard for house deposits and weren't just frittering money away.

I personally don't agree with parents asking/accepting housekeeping and then saving it on behalf of their children as it basically says "I didn't trust you to save it yourself, so I called it housekeeping and took the choice/decision making from you".

silvercar

My friend's oldest son is 14 so not too long before he starts earning his own money.

:rotfl::rotfl::rotfl:

Doubtful in this day and age.

50% of children go on to higher education, which means they will undoubtedly need support (indeed the government assumes that they will get that support in calculating the student maintenance loan amounts).

At 16 children can only leave school if they move into apprentices or training or further/ advanced education.

At least that will give your friends years to discuss what to do.

pigpen

1/3rd of their wage.. IF they are not in FT education and I'm no longer getting money for them.. but they buy own clothes/toiletries etc.. I just pay bills and buy food.

74jax

This of their wage to 'board' if try and encourage to save a third. Then the remaining is theirs.

elsien

When my mother moved in with me, I didn't charge her a penny.:D
Although I did pray very hard that her new house would be ready soon.