Do You Charge Your Kids Rent?
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Do you charge your kids rent?
Around half of 20-24 year olds are still living at home with family because of the struggle to afford having their own place.
We don't and have never charged them rent, we encourage them to save so they can get their own place
Never did when they were at home. Life is tough enough for them trying to get on the property ladder - it was nice to see them being able to do stuff i couldn’t at their age.
If they aren't earning, they can't afford to pay anyway. On the other hand if they are earning and being sensible and looking after their money, I wouldn't charge them. But if they don't look after their money, then am sorry they can't expect free rental. Got to weigh the situation.
I am still currently living at home and pay rent, i think it’s only fair really. I could understand a parent not charging their child rent if their child was using their money responsibly.
I think it also depends on the financial situation of the parents.
Once I started work I had to pay keep as my parents put it didn't mind at all as bills still need to be paid
My son is only 7 so I’m not at that point yet. But I think when he is old enough and working I will charge him but very little and put it to one side and save it. Then one day when he gets a house of his own, give him that money to put towards kitting it out. But not tell him
When I was working and living at home I paid a nominal rent just to get into the habit of paying my own way in life.
This is my biggest worry at the minute, I’ve had full guardianship of my sister for the last 10 years, we have no family support whatsoever, no joke! No mum, dad, nan grandad etc literally nobody! i have always worked but also received help ie tax credits and its been a tough 10 years (I was 19 and she was 5 when our mum passed) now she is 16 all payments have stopped due to her starting work but she’s on the bare minimum, I’m struggling to survive But I feel like I can’t take money from her as she’s only just started earning and very little how can I ask a teenager for the money she’s Worked all day for? I’m becoming in a worse situation digging A deeper hole for myself and really don’t know what to do?
sharniegrant - hi, you've done such a lot for your sister and I'm sure if you sat her down and explained your situation or even showed her this post, she would gladly help in whatever small way she can. It may not be a lot while she's on minimum wage but she can contribute something. Good luck . ***
I think it teaches kids how to be responsible and gets them into the habit of budgeting etc saying that, my son refuses to give me anything but then again he only works 1/2 days a week as he’s still at college. He thinks it’s the parents responsibility to 'keep' the kids until they move out! Spoilt brat lol
Are we talking about rent or keep? There is a difference.
Btw, I thought that there was a LD law against posters not engaging in posts, but the OP never does. Isn't it again the rules even if you're a LD TEAM member?
My son didn't pay anything whilst at college or uni (he commuted from home to uni) but when he started earning, he had to pay 'keep'. It's still nowhere near what he'd be paying for rent, plus he gets fed and watered and all the bills paid. They have to learn that nothing in this world is for free. If you let them live rent-free, then you're setting them up for failure, they'll have heart failure when they find out how much everything costs!
I only charged my daughter rent at home when the Council charged me for her living at home due to her age. She was at college and received a small amount from them which went into her bank account which was set up just for the college funding. It didn't cover the increase by the Council let alone for food, clothing, half of the gas/elec and goodness knows the phone bill, tv license, internet etc. I regularly gave her money for travel and necessities. Basically the college funding was no where near enough and my then teenage daughter took delight in spite by telling all and sunder I took all her money. Aren't kids great - btw she now has a degree in Art
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