What's the going rate for 'keep' from your children once they start work?

N9eav

I told my daughter that she would have to pay the amount we lost in Child benefit. She leaves college in July so we lose about £50 a month. So I want her to at least make up that loss.

Surfbabe

A third in keep, a third in savings and a third to spend. Even if you save the third she gives you in keep don;t tell her that - use it to pay for her wedding, deposit on house etc if you really don;t need it. But you must be realisitc about the amount you charge her. If she is at her boyfriends a lot then she should also be paying him or his parents a fair share too !!!!!

ailuro2

If she expects a discount for not being there then perhaps she could move out and leave the room free for a lodger.:p

Let her see what it costs to run the house, for heating,lighting,council tax but not the mortgage.

Then charge her 1/4 of her take home pay. That's less than £300 a month, much cheaper than she'd find anywhere else.

I agree if you save the money for her, don't tell her. Put it away in a five year bond or somewhere inaccessible. Check out the savings board to fins a good high interest home for it.;)

arthur_dent_2

adecor wrote: »

Our daughter has started work & is earning £19,000 p.a. We don't really need to take anything from her, but feel that we should (will probably put it in a savings account). We think she needs to learn some sort of value regarding money as she is in debt up to her eyeballs. There was no need for her to get into this situation from being a stay-at-home uni student. We did mention it to her tonight & she said that her best friend paid either £50 or £100 p/m depending on what she could afford. We thought that amount was unrealistic - I can remember paying £50 30 years ago!!

Any help regarding this will be much appreciated, as we are in the dark regarding what to ask.

Take 1/3 and keep some in a savings account and help her to pay off the debts with the rests. How anyone can be up to their eyeballs in debt with a good wage and no bills is beyond me. However by taking the money and seeing that she knows that life is expensive may just make her see that you cant spend spend spend.

geri1965_2

arthur_dent wrote: »

Take 1/3 and keep some in a savings account and help her to pay off the debts with the rests. How anyone can be up to their eyeballs in debt with a good wage and no bills is beyond me. However by taking the money and seeing that she knows that life is expensive may just make her see that you cant spend spend spend.

Let her pay her own debts! How is anyone ever going to learn if their parents constantly bail them out?

arthur_dent_2

I agree you have to learn, but I was suggesting that they take the money off her to pay them not pay them themselves.

MRSTITTLEMOUSE

I know a lot of parents who let their kids off with paying very little or nothing at all.The result was that they either ended up with their grown up kids staying at home or to have them keep coming back as they could'nt manage.I think you have to be realistic and take what would be their fair share of the household bills.It can be quite a shock when you sit them down and show them just how much it actually costs to run a home,but unfortunatly it's something they need to know.A lesson in life that needs teaching.Even if it hurts you in the process.

busiscoming2

Just to change the scenario a little, do any of you charge keep to your teens who work part time? My son is doing A levels and gets EMA which he saves for uni, but works most sats and suns in a shop, we don't take anything. Comments please.

yoni_one

adecor wrote: »

She does spend most nights at her boyfriends & thinks she is entitled to some sort of discount due to this. I guess she eats at home about 2-3 nights, but all her washing, etc. is still all done here.

As you don't really need the income to cover the expense of her living at home then the purpose of charging is to give her experience of the bigger world but in a safer environment.

The bigger world wont give her discount for kipping at her boyfriends. Don't be drawn into emotional aspect that she needs the money more than you do, what she needs more than the money is a lesson on how to manage her finances and the frame of mind to apply it.

IMHO now that she has moved on to the next level in growing up, it is now that she could do with sitting down and focussing on the bigger picture of prioritising her spending and learning that the fun stuff must come last or she is heading for far worse in the future if she continues as she was (and so might you be should she turn to you to bail her out).

Personally I would offer her the choice of paying the minimum market rate for house share, or the minimum market rate for houseshare with £50 of that to be put away in savings. That way she gets used to paying a reasonable sum for her lodgings and learns the benefit and habit of saving.

And if she still has any luxuries provided for her at home ie any cooking, cleaning, washing, home maintenance, lifts etc then the minumum market rate is a flippin bargain as I have yet to find a landlord prepared to do all that for me!!

Alternatively (or as well as), why not ask her to help you price up how much you should charge a lodger (stranger) to rent her room.

Sarahlouz_2

Looking back I think I had it very easy when I lived at home. Was charged 10% from when I started work at 18. This way we agreed it would be fair when my salary rose and also when my brother started work he could pay the same percentage. I had all my meals and washing etc for that. What people have suggested about taking a larger amount and putting it away without telling the child does sound a good idea and one I think I would consider if I ever have children. However I have to disagree with those who say those children charged a small amount for living at home either stay there forever or keep coming back. When I moved out last year I managed to save £3000 in only a couple of months for legal fees etc. I am very good at budgetting and saving my money. Even when I lived at home I saved hundreds a month to go on nice holidays etc. I now have a mortage/rent (shared ownership) and all the other cost that come with owning a house and I manage fine paying out over £700 of my wages a month for my half and I certainly have never had to ask my parents to bail me out which I am very proud of. I have no debts. I moved out at 23 so by them being so called soft it certainly didn't encourage me to live at home for years!!s