Halibut Posted September 26, 2013 Share Posted September 26, 2013 My teenage children are in the very fortunate position of having just started full time jobs - a 16-year-old on an apprenticeship earning just over £500 a month, and an 18-year-old with net pay of just under £1000. Their first paydays are today. However, until now I have been able to get child tax credits and child benefit because of them being in full time education. This has obviously stopped and I will need to take board off them. I remember when I lived with my parents I usually paid around a third of my wages to my mum, but talking to other people this seemed a bit steep!! What do others do? I was thinking around 20 percent of their pay after taking off things like travel costs. Do you think this is fair? Advice please... I'd agree that around the 20% mark is about right, £100 and £200 respectively. Nice little boost to your income and as others have commented important as an introduction to the realities of adult life and the need to budget. Link to comment Share on other sites More sharing options...
Anna B Posted September 26, 2013 Share Posted September 26, 2013 Our son pays £40.00 a week and moans like hell, so I say to him you find me a place where you get fed, washing done, meals cooked, free internet, gas & electric for that much & I'll move in with you. Part of the problem is that not all parents charge board, so kids of those that do often feel hard-done-by. It used to be the norm - i don't know why it seems to have gone out of fashion. But it needs to be universally reinstated fast. Link to comment Share on other sites More sharing options...
avidcameron Posted September 26, 2013 Share Posted September 26, 2013 I'd agree that around the 20% mark is about right, £100 and £200 respectively. Nice little boost to your income and as others have commented important as an introduction to the realities of adult life and the need to budget. This will accrue £3800 per year-after 10 years the £38000 can be used as deposits for 2 small houses. Link to comment Share on other sites More sharing options...
Bypassblade Posted September 26, 2013 Share Posted September 26, 2013 Part of the problem is that not all parents charge board, so kids of those that do often feel hard-done-by. It used to be the norm - i don't know why it seems to have gone out of fashion. But it needs to be universally reinstated fast. Yes it does Anna, kids have to realise that life is not a free ride & some adults as well Link to comment Share on other sites More sharing options...
avidcameron Posted September 26, 2013 Share Posted September 26, 2013 Part of the problem is that not all parents charge board, so kids of those that do often feel hard-done-by. It used to be the norm - i don't know why it seems to have gone out of fashion. But it needs to be universally reinstated fast. Some parents do not need to charge board if well paid,but the charging of board is a form of preparation.You know the adage "spare the change and spoil the rod"-it is about taking an adult decision. Link to comment Share on other sites More sharing options...
SiSiSi Posted September 26, 2013 Share Posted September 26, 2013 I'm glad this is being discussed. Far too many kids expect to live for free. Once they're earning they have to learn that their money has to provide for different things and is not just for blowing on a Saturday night or in Topshop. Budgeting is an important part of their education. Parents are doing them no favours by letting them off. I wholeheartedly agree with this, but then again I wholeheartedly agree with another poster who said that no child asked to be born! Link to comment Share on other sites More sharing options...
GoGo_dancer Posted September 26, 2013 Share Posted September 26, 2013 I remember getting my first wage packet from my apprenticeship, a whole £333 a month, I thought it was a small fortune! My Mum took £80 a month board. I went a bit crazy the first few months buying new clothes and going to the pub so I ended up borrowing money for my bus fare a couple of times which then got taken out of the following pay packet...I soon learned how to budget for everything! Link to comment Share on other sites More sharing options...
Mr Gobby Posted September 26, 2013 Share Posted September 26, 2013 Never charged my kids a penny. Even the dog got free board, and he really was an idle git would'nt get a job. Link to comment Share on other sites More sharing options...
pintsized Posted September 26, 2013 Share Posted September 26, 2013 When I lived at home, I paid £100 a month and earnt just over £1000 net pay so I guess 10%. For that I got all my food cooked, clothes washed and ironed etc. I never begrudged paying it and I'd never expect my parents to save it up and give it to me back as savings. Perhaps I got off quite lightly but I do think taking a 1/3 off them is steep. Link to comment Share on other sites More sharing options...
biotechpete Posted September 26, 2013 Share Posted September 26, 2013 Suppose it depends what you think they'll do with the cash. I was never charged board and wouldn't charge kids it. The reason I got away without was I was saving to pay for uni, a car and eventually a house. I also helped out at home. My wife got charged by her parents and all it did was put her in debt because she couldn't save and needed to borrow money to rent her first flat when she moved to Sheffield. She resents that they her wages literally went up in (their) smoke. It's a lot harder to get on in this world than it ever was for my parents generation many of whom can expect to retire on generous pensions in a few years. This generation has already borrowed against their kids future. Why disadvantage your kids if you don't have to. Link to comment Share on other sites More sharing options...
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