Money Moral Dilemma: How much should we charge our daughter for living with us?

As you say you are struggling with finances now since your daughter has returned home, then I'm taking it that your own incomes are quite small?

If yes, and you're not putting away thousands in savings each month or paying enormous debts which you've incurred? then you should discuss this with your daughter at a quiet time, sitting down to have a discussion and pointing out exactly why you are struggling with the extra expense since she's returned.

If the extra costs are food - for her, then ask her to pay for this and anything else that has increased and say what exactly has gone up and point out to her that she found it too expensive to live away but she cannot expect you to financially struggle because she has returned at her own choice.

Ask her why she's unwilling to pay you anything and see if you can get to the bottom of what her problem/s are.

Good luck!

happyandcontented wrote: »

Surely they will only be those who have over stretched themselves and not looked at what has happened and what could potentially happen again? It doesn't have to be either or, common sense can be applied.

All my kids are homeowners (on single incomes) but before they bought they were sure they could afford the mortgage if interest rates went higher. As it happens they have owned for between 3 and 5 years respectively and rates have been relatively unchanged for that time, house value has increased and they also took out fixed rate loans to further protect them against rate changes. They are now in the fortunate position of having a decent amount of equity in their properties.

We did all of the above but when interest rates went to 16% in the nineties and the crash happened then equity disappeared and that was quite sudden.
Every fiat currency since the romans first began the practice in the first century has ended in devaluation or eventual collapse of not only the currency but the economy as well.

Wow can't belive your daughter has moved home because renting and paying bills is too much... ....which is fine but she can't expect you to keep her either.
As there are 3 of you in the house all bills and food etc should be split 3 ways and no I would not be saving it for her either.
So pay up or move out xx

£200 per month, and she gets her own food.
This is what I do and although it seems 'hard' it works for us. I would be able to claim massive reduction on Council Tax if my daughter was not living at home, earning -and that would be a third of it. Extra costs because she is here include laundry, heating her room and electric for phones, extra tv and lighting. She tends to fall asleep leaving everything switched on, and it is easier and more sensible to charge her what this costs, rather than keep moaning at her to change her ways.
A room in a shared house locally would cost double this.

The difference in lifestyle causes the most friction- her having so much disposable income and not having the first inclination to budget responsibly.

silvercar wrote: »

Obviously it isn't normal to live at home all your life, as most people seek to live independently at some point in their lives. We are talking her mainly about young adults returning to the nest when they are in their first or second jobs. Finances often mean that it would be a struggle to live outside the home at this point.

Those advocating charging the most are those that either seek to fund their own lifestyle choices by profiting out of their children or those that don't have the budget to be independent themselves without the income from their children.

Those making comparisons with rent costs elsewhere, remember that however liberal and relaxed living with your parents is, it won't give you the freedom that living elsewhere does.

Agreed :T:beer: