What would you do.

Shineyhappy

How much was your windfall if you dont mind me asking?

I am 27 and bought my flat with my ex and then I had to buy him out, my mum lent me 5k, but she could afford it, it is very hard to get on the property ladder I know! You can see I can understand how hard it is from my sig!

Could you maybe convert your garage on a budget for her? Or maybe she could get a second job, but I dont know if she could afford the running costs for a place on her own, ie council tax, food, bills, mortgage, it is very expensive and on a minimum wage I think it maybe unrealistic anyway.

maxmycardagain

depends how much really

over £200K and id be long gone down south



benidorm probably, sod the debts AND the kids, no contest, me first!

immoral_angeluk

lynsayjane wrote: »

if she's saving up for the deposit for a house that could be a very long time on a sofa.

is she going to be paying you back for whatever help you can give her? I'd personally look at which situation is more dire, are you coping fine with the repayments and not being short of cash to live on each month or are you living on smart price beans on toast? (rhetorical questions, don't feel the need to answer). If you can still live to a decent standard and your daughter will pay you back in installments once she's settled then I'd say give her all/part of the money.

at the end of the day though it's your choice to make.

But how is she going to afford the mortgage on her own on minimum wage???

trying-very-trying

immoral_angeluk wrote: »

But how is she going to afford the mortgage on her own on minimum wage???

On paper, she should be able to afford it, but like I said it is all hypothetical.

trying-very-trying

Shineyhappy wrote: »

How much was your windfall if you dont mind me asking?

I am 27 and bought my flat with my ex and then I had to buy him out, my mum lent me 5k, but she could afford it, it is very hard to get on the property ladder I know! You can see I can understand how hard it is from my sig!

Could you maybe convert your garage on a budget for her? Or maybe she could get a second job, but I dont know if she could afford the running costs for a place on her own, ie council tax, food, bills, mortgage, it is very expensive and on a minimum wage I think it maybe unrealistic anyway.

Thanks shineyhappy. I should have said at the beginning, but I couldn't remember the word. this is a hypothetical question - I'm daydreaming.

On paper, she should be able to afford it. She does work long hours. We don't have a garage.

Badger_Lady

OK, it sounds like your daughter is having a hard time finding accommodation... but that your financial situation is much worse than hers (i.e. you have large debts to pay; she's got 0 debt and is even saving money).

If she did suddenly have a deposit, do you really think she'd find a place to live in time? At that age, she must have friends or somewhere to stay inbetween rentals... I take your point that rural Scotland isn't thriving with bedsits, but does that really mean every teenager has to buy their own home? I'm sure she'll find something after a while.

Your daughter will cope. Money won't fix her problem. It will fix yours :-)

Badger_Lady

trying-very-trying wrote: »

Thanks shineyhappy. I should have said at the beginning, but I couldn't remember the word. this is a rhetorical question - I'm daydreaming.

Ah, I see! Well, advice still stands :T

Shineyhappy

I dont mean to be harsh, but on paper I can afford my flat on my income-just, I dont have Sky, a home phone or the internet. If it wasnt for having a loger, I couldnt afford to pay back any of my debts above the minimum payment.

It is not easy to live on your own like this, even with an OH. I cant afford holidays, treats, new clothes, things for my flat, a social life, booze etc. I am 27 and for me the sacrifice of those things is worth it, but I was a student and I partied hard and got all that out of my system. At 19 that probably wont be the case.


Ohps sorry didnt realise it was rhetorical!

lynsayjane

Once again it seems I'm having to disagree with you all (black sheep anyone?). I bought my flat at 18, I was a student working for minimum wage and have been on minimum wage up until 6 weeks ago which means for the best part of six years I ran a flat on minimum wage. Yes I was in debt but only by about 4k max which on the scale of things is not huge (not good tho hence why it's gone) and yes I had sky, a social life, new clothes etc. With a little more sense I could have done it with no debt.

What I'm trying to say is that it isn't impossible for a 19 year old on minimum wage to run a home, I managed and even if I do say so myslef, have done a damn good job of it.

Shineyhappy

Well done to you, I guess its all relative, alot of it depends on how much your mortgage is, but a person on minimum wage could not afford my mortgage and bills. House prices have gone up a lot in the last few years so it makes it a harder thing to manage financially.

It also depends on what sort of person you are at that age. I dont mind admitting that I was a bit of a wild child and I wasnt responsible enough to be responsible for my own place or to want my own place if meant having to go without partying. A lot of teenagers simply dont want that kind of commitment and whilst I am happy for you, I dont think that most 19 year olds would want to spend all their wages on household bills.