Charging your 18 year old rent

joey88

I didn't get halls but I did live away from home whilst at Uni. I was fortunate enough to get a large loan (I also worked part time too).

However, I really do wish I had stayed at home and saved. I would have had a smaller loan but I could have saved what I had, allowing me to be in a better position after uni.

So many people I knew, were wayyy into their overdrafts. The cost of living unfortunately - not friendly if you are a student. You had rent, food, essentials and don't get me started on the books required for the uni courses, even second hand they cost a fortune.

I think it's great when parents charge a little rent, perhaps £100 or contribution towards bill. If they can afford to, they can then put this money aside and give it back to their child when they decide to move out.

I wish I had that money put aside when it came to living on my own and renting - estate agent fees are so high.

I agree that they have to grow up sometime but the above is still a way of teaching them to manage their money and bonus that you can give back to them when they will need it most.

It's important of course not to spoil children but at the same time, I think if we can make it just a tad easier for them to start a life of their own then that's great. Also, they will be out sooner!

Cat_Loving_Lady

My son will be going to Uni in October. If he stays at home I he will not pay any rent. If he moves away I hope to help him with a small contribution each month. Will try to help him as much as I can but know everyone's situation is different.

Mnd

Up to you about the daughter, but her boyfriend should pay his way..why subsidise somebody else's child

ka7e

My son attended Uni for his final year (top-up to HND) and he paid me his entire maintenance loan for his keep. Contact time at Uni is surprisingly few hours per week and he was able to work part-time, have a social life and save. He actually had a much better standard of living than if he had been in halls!

Always_Wondering

The practice we use is, once 18 any income they gain it's Save a third, Spend a third, Contribute a third.
So far eldest has accumulated savings they never would have had, manages their own payments (phone, TV subscription, clothes, Studies etc) and contributes to the household. Works well and enables them to value money.