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

Oldernotwiser

lucky_charm wrote: »

I would say to parents with children in ft education, unless you desparately need the money, don't take any from them, as there are a lot of hurdles in getting a good education and if you encourage them to save the money instead this could be very valuable for them in the future.

This is very reasonable in your situation, where you receive so little government aid. However, students in a more typical situation receive student loans and (sometimes) bursaries to maintain themselves. If living away from home this obviously goes towards rent and food but if living with parents I don't see why a reasonable amount of money shouldn't be paid towards keep, although, obviously, not as much as someone working full time. I don't really think that saving whilst studying is something to aim for and if a student saves out of maintenance funding without paying for their keep it is, in effect, their parents' money they're saving. This doesn't sound fair to me.

lucky_charm_2

I guess it depends... in my personal situation saving is important, as if I don't save while studying then I can't do my post graduate degree and without it I can't qualify, hopefully earn a decent wage and start giving back to my parents financially. It's just a really annoying aspect of the Scots Law Degree that you have to do such an expensive postgrad to actually get anywhere. Also for all students if you don't save while studying then if you get to the stage where working is compromising your grades you still won't be able to quit your job. And as other people have said it's good generally for young people to learn to save money.

I do take your point if you're getting a lot in bursaries it's different, then you should give a bit to your parents. I'm not so sure about loans... in my opinion it's probably not very good to encourage your children to go into debt by paying you maintenace unless you actually need the money, but I don't know how student loans work in England maybe it's different.

LillyJ

Oldernotwiser wrote: »

This is very reasonable in your situation, where you receive so little government aid. However, students in a more typical situation receive student loans and (sometimes) bursaries to maintain themselves. If living away from home this obviously goes towards rent and food but if living with parents I don't see why a reasonable amount of money shouldn't be paid towards keep, although, obviously, not as much as someone working full time. I don't really think that saving whilst studying is something to aim for and if a student saves out of maintenance funding without paying for their keep it is, in effect, their parents' money they're saving. This doesn't sound fair to me.

You get less money if you live with parents, normally enough to cover travel expenses, books, clothing, etc, which are all essential.

My parents would be disgusted at the thought of me giving them money that I was borrowing from the government, interest is paid on it and the best course of action would be to pay back the loan.

I am not sure why you don't think saving whilst studying is something to aim for, how are you supposed to set yourself up when you get a job? Not everyone is lucky to get a job near to their parent's house.

Saving should be encouraged at any age.

Parents are actually expected by the government to contribute to their child's living expenses unless they are getting maximum loan, not the other way round!

LillyJ

lucky_charm wrote: »

Honesly, I have checked it out, and it's £500 if i stay with my parents, £800 if I move out. Maybe because I'm in Scotland so no top-up fees?

I didn't realise you were in Scotland, I don't know the system there. However I was before top up fees (left last year) so I just got the maintenance part of the loan, without the fees part which is now an extra £3k a year:eek:

So everyone in England is entitled to £3k living expenses loan at least (which is a joke when the halls at my uni are more than that for the cheapest one!)

iceicebaby

I think a third of take home pay is fair amount to charge.

If you dont need the money then save it for her

cells

Ninnins wrote: »

MRSLITTLEMOUSE unfortunately I fall into this category, consequently my two sons in their twenties, one of whom earns good money, still live with me and expect full board and keep and dont seem to want to move out .... I feel trapped and helpless ...

why did you hve them in the first place if you dont enjoy being with them. or better put why didnt you put them up for adoption if you so dispise them

if you want rent, ask them. dont feel bitter behind their backs that isnt helping any of you

and its !!!!!! to say you feel traped by your children, they are the only thing you will leave behind once you are gone

cells

yoni_one wrote: »

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.

dont have kids

cells

i think chargining rent depends on your kid and if you need the cash or not

if they are good with money and you dont need the cash then dont charge them anything (they may well stay longer at home but that is a good thing for them. they will be saving more and improving their outlook by doing so)


if they are !!!!! with money and you dont need the cash then take 2/3 of going rent in your local area and get them to pay for their own stuff (like food, electric, council tax, ect). since you dont need the cash put it into a high interest savings account and give it back to them when they need it (ie buying a house)


if you need the cash im sure your child will know this and offer. if they dont then ask.

Oldernotwiser

LillyJ wrote: »

You get less money if you live with parents, normally enough to cover travel expenses, books, clothing, etc, which are all essential.

My parents would be disgusted at the thought of me giving them money that I was borrowing from the government, interest is paid on it and the best course of action would be to pay back the loan.

I am not sure why you don't think saving whilst studying is something to aim for, how are you supposed to set yourself up when you get a job? Not everyone is lucky to get a job near to their parent's house.

Saving should be encouraged at any age.

Parents are actually expected by the government to contribute to their child's living expenses unless they are getting maximum loan, not the other way round!

I'm perfectly well aware that you get a lower maintenance amount if you're living at home as obviously your costs will be less. However, you are expected to contribute to your living expenses; you don't get that money just as pocket money! If you're living at home and receiving maintenance funding, your parents' contribution is to not charge you the economic rent, not to pay you extra on top of your maintenance loan! Even if you don't get a maintenance grant and you spread the loan over a 52 week year, that's still £70 per week, a lot more than travel and books. Suppose you qualify for a maintenance grant and university bursaries as well, do you hang on to the lot and let your parents keep you? Not if you have any self respect.

Choosing to live at home whilst at university is one thing, but not paying towards your keep is something completely different. Surely at 18 plus you'd want to feel that you were as independent from your parents as possible. That's why HE and FE funding are completly different; up to the age of 18 you're your parents' financial responsibility after that you're expected to contribute.

As far as savings go it's obviously a good thing to have a bit behind you at any stage of your life. However, if the government provides you with money to maintain yourself and you don't use it for that purpose but let your parents keep you then you're not saving your own money, but theirs! Most people want to be considered as adults at university level; that's not possible if you let your parents keep you , you just remain a child.

Tinka21

I used to have to pay 70 p/w when i lived at home and it made no difference if i was on holiday for a week and not there or i stayed at my boyfriends house, that seems pretty much the going rate round here anyway.