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

yoni_one

Riq wrote: »

I worked evenings during my A-Levels at weekend and made about £80, I didnt get EMA as they didnt have that back then. My parents charged me nothing.

It was only when I had come back home from graduating away at uni and got a fulltime permanent job was i charged 'rent'.

Riq, why should you not have to pay for yourself now that you are an adult with a full time job? I'm confused.

Riq

Well, I do my own food shopping, I pay for own car and all associated costs.

My parents do not need the money, they have no mortgage at all and havent had one for years.

They just put it into their savings account which they will never spend. I save about 60% of my monthly salary and feel I'd personally be better with saving 70%ish or something. That money would be more useful to me than them.

If we had a big mortgage and were struggling then yes, I would. I have been taught the value of money etc and that is exactly why I think the money would do me better than my parents.

I will never charge my offspring rent.

ldavies_3

My mums reasoning was that I ate her out of house and home and treated the place like a hotel. My gripe was I was paying hotel prices lol

ldavies_3

:eek: as if i would

yoni_one

Riq wrote: »

Well, I do my own food shopping, I pay for own car and all associated costs.

My parents do not need the money, they have no mortgage at all and havent had one for years.

They just put it into their savings account which they will never spend. I save about 60% of my monthly salary and feel I'd personally be better with saving 70%ish or something. That money would be more useful to me than them.

If we had a big mortgage and were struggling then yes, I would. I have been taught the value of money etc and that is exactly why I think the money would do me better than my parents.

I will never charge my offspring rent.

If I tell my landlord that I do my own food shopping and pay for my own car and associated costs, do you think it would be reasonable for them to say ok I don't have a mortgage on the property so dont pay any rent then, and by the way I will absorb all of your share of the council tax, gas, electricity, telephone, tv license, plus I will provide most or all your furniture for free, renew it when it gets worn and I will cover the cost of insuring it all (even insure the things that you have paid for yourself), I wont even charge you storage for your own things and furthermore I will pay all costs to maintain the home so you can live in it comfortably and when i pop my clogs you will be entitled to a share or all of it.

You may have learned the value of YOUR hard earned money but I think you still have someway to go in respecting the value of your parent's money and their entitlement to keep ALL of it now that you are an adult.

It would be an abuse of the relationship to expect them to continue keeping you any more than you would expect others to keep you.

Kantankrus_Mare

Riq wrote: »

Well, I do my own food shopping, I pay for own car and all associated costs.

My parents do not need the money, they have no mortgage at all and havent had one for years.

They just put it into their savings account which they will never spend. I save about 60% of my monthly salary and feel I'd personally be better with saving 70%ish or something. That money would be more useful to me than them.

If we had a big mortgage and were struggling then yes, I would. I have been taught the value of money etc and that is exactly why I think the money would do me better than my parents.

I will never charge my offspring rent.

Im sat here speechless! Not quite sure what to say even.

What a very selfish attitude and to say you will never charge your offspring rent is crazy :rolleyes:

Its not a case of whether your parents need the money or not, its the principle of you paying your way.

My kids are teenagers and have a few years to go till Im in this dilemma but even if at that stage we didnt need the money i would still make them pay something.

Have you been spoilt all your life?

Horace

I used to give my parents half of my wages when I had a Saturday job and when I had a proper job earning £3364 pa (yes, it really was that much), I carried on giving them half of what I earnt. I paid for my own driving lessons, saved and bought my own car (did up with Dads help), paid for petrol, tax and insurance as well as buying my own clothes. If I didnt have the money to pay for something then basically I did without.

I did discover some years later that the money I gave to my parents for my keep was squirrelled away into a building society account and was used to pay for my wedding amongst other things.

I think that the person who said that he wouldnt give his parents anything for his keep nor would he charge his kids to pay for their keep is very selfish and in the future will be bringing up selfish kids who know that they can have what they want without having to work for it or contribute in any way.

I am pleased that my parents made me give them half my wages because it not only taught me the value of money but also how to survive on very little. I am now on JSA through no fault of my own and my friends are amazed as to how little debt I have and how I manage to survive on very little.

LillyJ

My parents would NEVER have asked for rent when we were in full time education.

We had part time jobs but we were encouraged to save. If the money ran out then it ran out. No being bailed out.

However if we lived at home when we had a full time job we would have been charged board, about the going rate for a lodger, maybe minus a bit! we have learnt budgeting at university and they want us to pay off our student loans.

However we have always paid for cars, clothes, anything else apart from food and bills.

Turns out we both live over a 100 miles away, with our respective partners so it was never an issue.

Lunar_Eclipse

busiscoming2 wrote: »

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.

I wouldn't. Presumably they have a job whilst studying to pay for the things/activities that they want to do. They are still a full time dependent and since their income isn't that great I wouldn't take any. I may however say that I expected them to use their money for things that I used to pay for. The odd clothing/shoe items, birthday gifts for friends etc.

And if they could save some for uni or setting up on their own that would be great.

Lunar_Eclipse

geri1965 wrote: »

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

This is not necessarily true.

The only 'debt' my husband ever had was his student loan from being at university. His parents did not give him any money towards his fees, lodgings, food & bills and other outgoings at all. However, they did pay off this debt after he had finished uni.

I suppose that this had the effect of him minimising the debt as much as possible (because as it grew he 'knew' it was his debt and responsibility.) But I was horrified that they hadn't helped him financially at all throughout his degree. He was the only person I knew whose parents didn't contribute anything at all. And it wasn't because they couldn't afford to - that is entirely different. I am aware from my BIL and boards like this that sadly this may be quite unusual. When the time comes for our children to go to uni we will do all we can to guide them through in as debt free manner as possible, although costs have risen extortionately!

Back to the OP, I contributed £50/week from my £200/week to my parents from my first proper job during my GAP year. My mother later told me it was only because they were worried I would spend it all and not save anything for university. I'm not sure if this or the fact that she gave it all back to me shocked me more. Of course I hadn't spent all my earnings - she obviously had little faith in her financial parenting! I thought this was lovely at the time and will probably do it myself if my children earn from FT employment whilst living at home (I hope not!) I would give it back to them to help with a house deposit or car needed for getting to work etc. I don't think it's spoiling them (I'm great with money) but helping them in a very expensive world. If one can help, then why not? I wouldn't buy my kids a first home though as two of my friends parents did!