How much board for an 18 year old?

silvercar

Loz01 wrote: »

Don't you think its a good preparation for the real world? Showing them that if you earn 20k a year, you don't KEEP 20k...

No. I'd prefer the message to be that you are always welcome at home.

theoretica

Some parents would either rent out the room, or downsize, when their child moves out. In those cases there will be a considerable cost to having a young adult still living at home.

Sambella

I am another who just charges actual costs to my son . £160 per month.

I see no point in charging an amount that is equivalent private rental just so that he can practise paying it. He lives at HOME. Home IS cheaper than private rental.

If you charge too much you'll miss it when it is gone.

As for preparing for the real world that will come when it comes . He isn't daft and knows how it will be.

silvercar

theoretica wrote: »

Some parents would either rent out the room, or downsize, when their child moves out. In those cases there will be a considerable cost to having a young adult still living at home.

Most parents don't rent out rooms. Downsizing only works if the money works out; but the costs of moving will often be prohibitive, particularly if you are advocating moving down every time one of your offspring leaves home.

takman

applepad wrote: »

That's what. Intend to do, he will not know he will get it back

Loz01 wrote: »

Don't you think its a good preparation for the real world? Showing them that if you earn 20k a year, you don't KEEP 20k...

No, teaching them to save money and budget efficiently is a far more valuable lesson. Let's look at two made up adults living at home:

Adult A) Earns £1500 a month and pays £500 a month for board ("To prepare them for the real world") spends the rest of their money on cars, nights out and holidays.

Adult Earns £1500 a month, pays £150 a month for board and voluntarily saves £600 a month for a house deposit. Then budgets the rest of their money for cars, nights out and holidays.

Who do you think will do best in the real world?.

badmemory

When my son first started work he paid enough to feed him & 25% of the council tax. That was over 15 years ago. He now pays 50% of everything except repairs & renewals & home improvements. I think if ever he does "settle down" then I might move out. I guess what I am trying to say is that what you ask them to contribute mostly depends on your circumstances not theirs. Perhaps I should also admit that the deposit on my first house was paid for by the keep I had paid to my parents which they had saved. I perhaps should also admit that this was so long ago that if I had been buying the house myself my father would have had to guarantee the mortgage as I was only a woman the same as he had to guarantee my aunt's mortgage even though she earned more than him.

goodwithsaving

gettingtheresometime wrote: »

He knows we aren't saving it for him as it is paid into an account that OH and I use for holidays.....will miss it soon as he's in the process of buying his first house!

'Will miss it'?
So, did you have children to fund the luxuries? That's an appalling attitude IMO. If my parents did that I'd move out on principle.

theoretica

goodwithsaving wrote: »

'Will miss it'?
So, did you have children to fund the luxuries? That's an appalling attitude IMO. If my parents did that I'd move out on principle.

It is cheaper in total for three adults to live together in one household than for two to live together in one, and the third to live separately. Some families choose that the youngest of the three should have all this financial benefit - others don't. And sometimes it is a family decision, not just imposed by the parents. I had friends who were glad to start earning because it provided luxuries for the whole family - not just for themselves.

gettingtheresometime

silvercar wrote: »

Very honest of you to admit this, but I am actually shocked that someone would so blatantly profit out of their children.

goodwithsaving wrote: »

'Will miss it'?
So, did you have children to fund the luxuries? That's an appalling attitude IMO. If my parents did that I'd move out on principle.

I'm not sure how I'm profiteering from him - the food bill went up when he came home, as did the electricity bill. Admittedly not by £250 but he has no travel to work bills (works with OH), lunch is provided & he was put on my insurance so has access to (effectively) a free vehicle.

If I could find somewhere that provided all that for £250 per month I'd move tomorrow!

No I didn't have children to fund luxuries - when he moves out we'll fund the luxuries wth money from elsewhere.

I must admit I hate these sort of threads - what works well for one family may not work well for any other & there seems little recognition of that

silvercar

gettingtheresometime wrote: »

I'm not sure how I'm profiteering from him - the food bill went up when he came home, as did the electricity bill. Admittedly not by £250 but he has no travel to work bills (works with OH), lunch is provided & he was put on my insurance so has access to (effectively) a free vehicle.

I've highlighted the bits, to show you where you are profiting from him. It's the difference between the extra it costs to have him at home and the £250 you are charging.

......
I must admit I hate these sort of threads - what works well for one family may not work well for any other & there seems little recognition of that

I agree to a certain extent, where a family can't afford the extra costs of having their offspring live at home, I can understand them charging the extra costs.

Charging your own children in order to fund your holidays, seems to be the other extreme.