walshie Posted August 21, 2012 Report Share Posted August 21, 2012 Well walshie jnr finally has a full time job. We let him off housekeeping money when he was only part time, but now it's time to pay his way. He eats like a horse and thinks his clothes wash themselves. I remember when I started work, I earned £37 a week and had to give my mum £20. What is a fair amount to charge him? A percentage of gross pay or take home pay? Quote Link to comment Share on other sites More sharing options...
Muggins. Posted August 21, 2012 Report Share Posted August 21, 2012 (edited) 25% of his take home pay. You could charge him a bit more but keep it back as a nest egg. Whatever you do he has to learn the value of money and what it costs to run a home. Edited August 21, 2012 by Muggins. Quote Link to comment Share on other sites More sharing options...
Robl Posted August 21, 2012 Report Share Posted August 21, 2012 Not a percentage. Charge him a flat rate. Something realistic that matches a room in a shared house. Maybe, if you want to be nice, without telling him put half of what he pays you into a saving account, and when he comes to move out you can give it back to him as a deposit for a first house. Other ideas. Tell him he has to arrange one meal a week for the family. He has to buy the food and cook it. It’ll give him an idea of what food costs. Occasionally ask him to do some supermarket shopping. Stuff like 12 pack of loo roll, toothpaste, cleaning products etc – that he has to buy out of his money. Anecdotal Reasoning…. Two brothers I used to know were charge 25% of their take home pay. One earned a lot more than the other. Poor brother was happy to stay at home. Better paid brother wanted to move out, but couldn’t afford it with the 25% rent. Poor brother was paying £150 a month, better paid brother was paying £400. Better paid brother had no chance of saving up for house deposit. Many years later, he’s still angry about the unfairness of it. Quote Link to comment Share on other sites More sharing options...
Muggins. Posted August 21, 2012 Report Share Posted August 21, 2012 Anecdotal Reasoning…. Two brothers I used to know were charge 25% of their take home pay. One earned a lot more than the other. Poor brother was happy to stay at home. Better paid brother wanted to move out, but couldn’t afford it with the 25% rent. Poor brother was paying £150 a month, better paid brother was paying £400. Better paid brother had no chance of saving up for house deposit. Many years later, he’s still angry about the unfairness of it. But the ratio is still the same ... earn more - pay more. Quote Link to comment Share on other sites More sharing options...
Robl Posted August 21, 2012 Report Share Posted August 21, 2012 But the ratio is still the same ... earn more - pay more. That’s fine for income tax. But if you get a payrise does your bank increase your mortgage and the gasman increase your bills? I guess it depends what you’re trying to teach the kid. Quote Link to comment Share on other sites More sharing options...
clakk Posted August 21, 2012 Report Share Posted August 21, 2012 on 25 quid a week i paid 15 quid board .yes im old n no ceaser wasnt running the country.try carrot n stick tell im 20 quid a week is saved for driving lessons and if he already drives tell him hes paying for your next holiday without him Quote Link to comment Share on other sites More sharing options...
leeds chimp Posted August 21, 2012 Report Share Posted August 21, 2012 i paid 25% and did a bit of shopping now and again thought that was fairish but my little brother was a dosser and still is Quote Link to comment Share on other sites More sharing options...
12borejimbo Posted August 21, 2012 Report Share Posted August 21, 2012 Im 24 and still live at home, I do a lot of the shopping and help my mum around the house, let alone converting the garage roof into a flat for me to live in and paying for all of the materials, (bleeding me dry). I have moved out twice and came back so I can do the garage conversion and save for a deposit for a house. I pay £150 a month aswell as buy shopping, cook atleast once a week, I do a heck of a lot of jobs and as much as I can do. Quote Link to comment Share on other sites More sharing options...
shaun4860 Posted August 21, 2012 Report Share Posted August 21, 2012 (edited) I used to pay £50 per week, half the gas/leccy and all the internet charges as it was only me using it ( only me and my mother living there) this was back in 2002 I have always paid from the time I had any money coming in first started when I was 16 used to get £7.70 and paid £2 in board(1976) I thought it was fair I have a niece that thinks £20 a week is way over the top, (her dad, my bro in law never paid a penny in board until the day he moved out aged 26 so doesnt see why she has to) you have to learn them the value of money Edited August 21, 2012 by shaun4860 Quote Link to comment Share on other sites More sharing options...
Robl Posted August 21, 2012 Report Share Posted August 21, 2012 As it happens I never actually paid any rent myself. I lived at home as a student till I was 21 (with part time job) Then had a year of work till I moved out and overseas at 22. Had I stuck around I’m sure they would have started charging. But, as a student that said “You’re only young once, enjoy yourself’ And when I got a real job they gave me a years grace to pay off student/graduate debts (new suit, decent car etc) so I wasn’t burdened with debt. I had it very lucky. But, now I’m older I look back and appreciate what they did for me as a kid. Now I’m in a secure position I’ve been able to repay them over the years with a car, new TV, new patio furniture and so on. I guess it all comes down to the situation the kid and family is in. It’s a balance between life lessons and paying their way VS parent being able to support and protect their kids. Isn’t the dream to be able to give ones kids an easier life than the parents had? Quote Link to comment Share on other sites More sharing options...
NickS Posted August 21, 2012 Report Share Posted August 21, 2012 I couldn't wait to leave home! At 23 I bought a flat with my girlfriend who was a uni student - so, we were living together we felt we should be married..... how times change! We are still married 30 years on although we have moved house a few times in that time. My brother continued to live at home until our parents died soon after each other and the financial realities came as a bit of a shock to him. Nick Quote Link to comment Share on other sites More sharing options...
Imperfection Posted August 21, 2012 Report Share Posted August 21, 2012 My nephew is staying at my mine temporarily and i charge him £50 per week.This dont include food,but when he can be bothered to pile up his dirty laundry i do stick that in the washing machine.I know the going rate is more,but since he's family i cut him some slack. Quote Link to comment Share on other sites More sharing options...
Archie-fox Posted August 21, 2012 Report Share Posted August 21, 2012 When I lived at home it was £40 per week... Quote Link to comment Share on other sites More sharing options...
Rupert Posted August 21, 2012 Report Share Posted August 21, 2012 I paid 50 a week when i left and i rented a tele for my parents and paid the fone bill and the largest utility bill every quarter At the time i thought it was a huge amount but now know it was cheap living,my folks were very poor too. Start low and work up i think 25 quid is a mimimum and an annual increase in line with career progression etc Quote Link to comment Share on other sites More sharing options...
walshie Posted August 24, 2012 Author Report Share Posted August 24, 2012 Cheers for the advice guys. Now I've got it in black and white to show him. Quote Link to comment Share on other sites More sharing options...
ferguson_tom Posted August 24, 2012 Report Share Posted August 24, 2012 £300-400 a month seems to be the average room rate including bills etc on a house share, so flat rate of that he is still better off than moving out as he gets his clothes washed and food paid for. Also the advantage you have your lad to help you out around the house still. Quote Link to comment Share on other sites More sharing options...
four-wheel-drive Posted August 24, 2012 Report Share Posted August 24, 2012 (edited) lucky boogers when I started work I got £3 a week I had to give mum for my keep £1 save in the bank £1 then I had a whole £1 to spend on myself but then a £1 went a long way in 1960. When I was young our neighbour had two boys and a girl when they started work they had to give there mum money for there keep but unknown to them what she did was to save it and when they got married she gave it back to them to use as part of the deposit for them to buy there first house a nice idea if you can afford to do it. Edited August 24, 2012 by four-wheel-drive Quote Link to comment Share on other sites More sharing options...
yates Posted August 24, 2012 Report Share Posted August 24, 2012 Make sure he contributes financially and helps out at home. He needs to learn about the realities of life, you'll be doing him no favours if you don't get tough Quote Link to comment Share on other sites More sharing options...
jef Posted August 24, 2012 Report Share Posted August 24, 2012 I had to pay a third to my mum, save a third and had a third to spend. I like the idea of taking more off the kid for a wee nest egg later in life. The young guy at work served his time then quickly became a self employed subby along with the rest of us. He's still at home and pays zero. He has no idea what it costs to live. His van is even insured through his old man's fleet. He's apparently saving for deposit and good luck to him if this is the case but it will be a sharp shock the day he moves into his own place. I think the harder you can be on them now the more clued up they'll be when they eventually leave the nest. Good luck JF p.s. I preach as if I'm a wise old man when in fact my first child is due around christmas. Quote Link to comment Share on other sites More sharing options...
shaun4860 Posted August 24, 2012 Report Share Posted August 24, 2012 The young guy at work served his time then quickly became a self employed subby along with the rest of us. He's still at home and pays zero. He has no idea what it costs to live. His van is even insured through his old man's fleet. He's apparently saving for deposit and good luck to him if this is the case but it will be a sharp shock the day he moves into his own place. When I bought the place I am in now I came from paying £50 per week(see previous post) to a mortgage of £125 a month It still took me 2 years to get to a place where I felt comfortable money wise, Its not the mortgage that gets you, its all the bumf that goes with living on your own. your are responsable for EVERYTHING Quote Link to comment Share on other sites More sharing options...
jasper3 Posted August 25, 2012 Report Share Posted August 25, 2012 blimey !!! my 1st wage was £16 after national insurance was paid... step mother took £10 for rent and £1 for club book yet i still managed on a fiver Quote Link to comment Share on other sites More sharing options...
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