When and what amount for kids paying rent?

Discussion in 'Money Management & Banking' started by Propin, 28th Jan, 2018.

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  1. Propin

    Propin Well-Known Member

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    My daughter started a decent full time job at just before 18. I told her she would have to start paying rent at 19. I was thinking just a small amount to go towards food and living expenses. Maybe $100/wk. What are your thoughts and what do others do? I'd like to add doing own washing also .
     
  2. Beano

    Beano Well-Known Member

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    When the children reached 18 I started paying them a share of the rent (income )
     
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  3. Scott No Mates

    Scott No Mates Well-Known Member

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    Only $100/wk? How about 20% of nett wages? Which is still alot less than the 30%+ that many are paying.
     
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  4. Angel

    Angel Well-Known Member Premium Member

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    I would say a minimum of $100 a week. I used to charge my adult son $160 out of his Disability Pension to cover food, electricity, internet and his "rent". They spend approx $200 a week all up (each) now they are renting their own place. An empty room is worth at least $100 - what is your house worth if you had to rent it on the open market? and then think about a share of the household costs.
     
    Last edited: 28th Jan, 2018
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  5. Kassy

    Kassy Well-Known Member

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    When I started work, dad charged me $100 per week, I also had to buy my own food, pay for public transport to my job and pay for 1/3 of the phone bill. I can’t remember my gross wage but my net was $560 per fortnight.

    It annoyed me at the time but he actually gave it back to me when I bought my first house (IP, still lived at home after). Very lucky for me he gave me the cash as I didn’t know about stamp duty until it was due to be paid-oops! (No discounts or first home buyers anything back then)
     
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  6. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Like board?
    Either a percentage or a set amount. As she's still on under 21s wages if she's on award wages it's probably not a huge amount but you can definitely work on independent skills (aka grown up chores) and financial contributions

    I would suggest
    - own washing (definitely!)
    - cook dinner once a week for the family
    - pays own car insurance, petrol and yearly rego
    - pays own mobile phone
    - has a savings plan which is % of pay automatically deducted each pay
    - board/rent

    Good time to go through budgeting and savings.
     
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  7. Joynz

    Joynz Well-Known Member

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    Not rent - unless you are renting or are still paying off the mortgage.

    But definitely board (food and bills) as well as share housework, shopping etc.
     
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  8. Indifference

    Indifference Well-Known Member

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    $0..... BUT.... must save a set amount into a long-term savings account. That's what we did anyway.

    Why?

    They get the satisfaction of watching a little nest egg grow.
    They learn the discipline it takes to set aside $ for the long-term.
    They eventually save enough to want to leave the nest.
    They learn that they are always welcome at the family home as long as they are making an effort.
     
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  9. larrylarry

    larrylarry Well-Known Member

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    I have been thinking about this since my 11 yo asked if she could move into the granny flat. She wants to move in there when she’s 18. Maybe a percentage to cover costs.
     
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  10. kierank

    kierank Well-Known Member

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    When our kids reached 18, we chucked them out and changed the locks. “Time to fight the world on your own”. :eek:

    So we never had this dilemma :D

    Now they both live in Melbourne and we live in Brisbane.
     
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  11. purplecat

    purplecat Well-Known Member

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    When I first started part time work at 14, 20% of my pay goes to my parents. Once I started full time it’s 40% - but they pay all the household bills & food & do nearly all the housework & cooking.

    I only need to do my own laundry, clean my bedroom & at most once a week dishes.

    See it as a way of contributing to the household, if parents put 100% towards the household for the past 18 or 20 years, why do children think charging them $100 (which is at most 15.38% if on a min wage), too much?
     
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  12. Ace in the Hole

    Ace in the Hole Well-Known Member

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    I’m always about increasing income so would not charge my daughter any expenses if she was only earning a starting income.
    Alternatively, I’d rather get her to provide helpful services around the house or with business to cover this “cost”.
     
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  13. Tony3008

    Tony3008 Well-Known Member

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    I lived in the family home until I was 27. Once I started work I started by giving my mum 25% (rounded) of my take-home. Each time this dropped to 20% (as my pay increased) I reset the amount to 25%.
     
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  14. Fargo

    Fargo Well-Known Member

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    The insurance for an under 25 yr old is ridiculous. 2 yrs insurance cost more than a decent car. It is not worth it. It is better to register the car in the parents name and add it to the parents insurance policy. I just transfer unused credit to my daughter for her phone.
     
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  15. Dan Donoghue

    Dan Donoghue Well-Known Member

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    When I was at School and working part time at Maccas it was 10% of salary capped to $50 a week.

    Once I started full time it went to something like a couple of hundred a month (basically similar to the capped amount previously, This is back in 1993 so it was somewhere in the vicinity of 25% of my take home for my full time job).
     
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  16. D.T.

    D.T. Specialist Property Manager Business Member

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    I always paid board / rent at home and although I wasn't fond of it at the time, I'm grateful for it now. It taught me a fair bit about budgeting / prioritising money.

    Granted its a small sample size, but I see a lot of people now who suck at this and they're always the ones who didn't have to pay.
     
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  17. Sackie

    Sackie Well-Known Member Premium Member

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    I wouldnt ask for board but if they want to live with me then need to put a percentage of their income towards investing. Goes without saying they need to share in all the chores and pay for all their personal living expenses. Will drill in from an early age that the only free lunches in life are all rotten ones.
     
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  18. bob shovel

    bob shovel Well-Known Member

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    I think a fixed figure. Simular to if they were in a share house etc. 100 sounds reasonable but not excessive
     
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  19. MTR

    MTR Material Girl Premium Member

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    Haha.....lucky kids
     
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  20. KinG3o0o

    KinG3o0o Well-Known Member

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    i just hope my kids will stop asking for money when they start working.
     
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