Calculating how much kids (do/don’t) cost when they leave home

SouthCoastBoy

Kim1965 said:

Since my daughter left home my water bill has dropped from £52 pm to £19 pm. She had two 25minute showers per day, plus a daily full load in the washing machine.
I think kids are financially crippling full stop. Thankfully both are through uni. 

I wonder if she is still having 50min daily showers now? I totally agree kids are expensive,washing machine is on everyday in our house as well.

MallyGirl

The food bill is the most significant change when my daughter comes home from uni. With her on minimum maintenance loan we pick up the accommodation bill - currently £617 pcm. It is a 6 year course! We also currently fund the mobile and her car costs.

strawb_shortcake

When my eldest moved out for uni it was the electric we saw the biggest drop as he's a gamer and spent far too long on the computer.

When the second went to uni the following year we saw a significant drop in the food spend. 

Currently I'm only support the eldest with food costs at £30 pw as they both get maximum maintenance loans or very close too. 

If the youngest goes to uni we have 8 years of uni by which point I'll be 50.

Kim1965

MallyGirl said:

The food bill is the most significant change when my daughter comes home from uni. With her on minimum maintenance loan we pick up the accommodation bill - currently £617 pcm. It is a 6 year course! We also currently fund the mobile and her car costs.

I had both of mine at uni at the same time for one year, two lots of accommodation and a car they shared. It didnt stop there, both needed extra help with clothes and everytime i dropped them off i would get a colossal food shop in for them.
For me I could not contemplate retirement until they were both through uni.
 Thankfully both are now in well paid jobs. My lad becomes chartered in september, he lives at home and has offered to pay half the bills. Its a long slog with kids and i am lucky that both of mine have good work ethics, many of my friends are still forking out well after their kids have left uni. 

handful

Dizee123 said:

Don't assume that once they leave home/university that they won't return!

This is exactly what I was going to say. My daughter bought a house with her partner but they split up and she came home to help her "save" for her own place and she was at home for another 2 years!

At the end of the day, they will accept all the financial help that is on offer and it's up to you to draw the line. A further example, my daughter now owes us £10k for a car but that will be repaid and will assist us with our retirement income for the first 3 years when my DB pension will be in payment.

WYSPECIAL

Not worked out any figures yet but what I have noticed is that two daughters left and toilet roll useage has dropped by around 90%

barnstar2077

I have the opposite problem to most people on here, my partner has a child and we don't live together yet.  So I am expecting my bills to go through the roof at some point.  I currently have a great deal of control about how much water is used, when the heating goes on etc.  She has said before that if we live together I will be able to retire earlier, but I don't think it will quite work out like that some how! :  )

bluebirdy

It’s a bloody good job we love them, isn’t it, the amount they fleece us!? 

lookstraightahead

Uni was expensive, but my dd is 24 and has moved out and has been completely independent for two years and costs us nothing now. If she needed help we would help her, and we do treat her a lot, but we don't pay for her day to day living.
Of course, circumstances can change and we're here if need be, but she's standing on her own two feet(her rent is half her net salary). All of her friends seem to be doing the same, none of them are at home at the moment.

MallyGirl

Kim1965 said:

MallyGirl said:

The food bill is the most significant change when my daughter comes home from uni. With her on minimum maintenance loan we pick up the accommodation bill - currently £617 pcm. It is a 6 year course! We also currently fund the mobile and her car costs.

I had both of mine at uni at the same time for one year, two lots of accommodation and a car they shared. It didnt stop there, both needed extra help with clothes and everytime i dropped them off i would get a colossal food shop in for them.
For me I could not contemplate retirement until they were both through uni.
 Thankfully both are now in well paid jobs. My lad becomes chartered in september, he lives at home and has offered to pay half the bills. It's a long slog with kids and i am lucky that both of mine have good work ethics, many of my friends are still forking out well after their kids have left uni. 

Our plan for retirement is aligned with when she graduates and gets her first job. 2.5 years to go at which point we will be 59. I would go earlier but OH would never be comfortable with that. It also coincides with the end of our very low 5 year fixed mortgage rate so everything will come together nicely.