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How much rent to charge 18 year old??
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Hi!
I have an 18 year old son who will be finishing College at the end of June. He has a part time job at the moment and they have offered him full-time when he finishes until he gets an apprenticeship.
I think he should now contribute and he is happy to do so, but I have no idea how much to charge.
Do any of you folks have experience of this and what is your advice? I have some friends who don't charge their kids anything but as I am on my own I can't afford not to charge him!
Any advice greatly appreciated:)
I have an 18 year old son who will be finishing College at the end of June. He has a part time job at the moment and they have offered him full-time when he finishes until he gets an apprenticeship.
I think he should now contribute and he is happy to do so, but I have no idea how much to charge.
Do any of you folks have experience of this and what is your advice? I have some friends who don't charge their kids anything but as I am on my own I can't afford not to charge him!
Any advice greatly appreciated:)
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25%? 30%? Depends if it includes his nosebag and so on!
When I stayed at home, my parents would not take what I would have considered fair and they weren't exactly rolling in it. What I considered fair I put in to their house in other ways for things that they really couldn't have afforded.
I expect I will be feeding him, doing washing etc:rolleyes::D
I still feel a bit guilty taking his money as some of my friends don't but on the other hand he needs to learn the value of money:)
Always make ironing EXTRA
You got it!!!
Sounds as if he needs to learn the value of housework too, help make him a more rounded human being lol. Think of it as doing any future daughter-in-law a great favour.
Twenty three year old works in a school, so only around 18 hours per week, plus around 5 hours in a shop on Sundays, 20 year old works full time.
We felt the fairest way for them both was a percentage of their earnings and that's exactly what we've done.
They also have to do a fair share of housework, a bit of ironing and a bit of cooking. We would be saying exactly the same if we had boys, as we feel getting board off them is about teaching them nothing in life is free, it helps them budget and gives them an understanding of bills, rent etc. The housework stuff means they know how to keep a tidy house and won't starve
Unless you need the money...I think you should without telling him, put it in a savings account and give it to him when he moves out. So he can pay for deposit .
Good idea!
More of his friends pay rent than don't pay - you could move out at 18 and it would be a lot more expensive than paying rent at home:D
Nice idea - but, unfortunately, at the moment would need the money - unless I took more than i needed and saved some of it!:D
Normally I would agree 18 is too young, and if he had been going to Uni and staying at home, then I wouldn't say charge him. But he is going to have a full time job, he needs to learn that one day he'll have to budget and do without certain things.
My parents don't charge me, (I'm 19 and at Uni), but I still help however I can. Buy some groceries, cook the dinner, make sure mum doesn't have extra work when she comes from work. Its a way of preparing me for the real world, as is charging a full time worker who is staying in your house.
The OP should negotiate an amount of rent that suits both of them, allowing for urging him to save a small amount towards a deposit for himself some day as well - agree that when that time comes if he saves so much then the parent will contribute too - say 2/3 child, 1/3 parent or whatever suits the parent (but only if he does save this amount - if he doesn't he gets nothing).
When I was 14 I really really wanted a particular radio cassette player, I'll never forget it was £45. My dad made an agreement with me that if I saved £25 he would then give me the other £20. That is exactly what happened, and I like to think it has taught me to be quite good with money as an adult.
How is it harsh? If he moved out he'd be charged considerably more than his parents would be expecting. He isn't a child anymore.
It won't necessarily cover your costs (though it might), but it will get him used to the idea of 'the real world' for when he moves out...