What to charge in keep?

[munemema]

Both my DCs have just started/are about to start full time work.

DS1, 18yo is going through the selection process for his life's dream, which if he's successful will lead to a very decent salary. FTB he's working 25-30 hours pw in McDonalds, earning around £200 pw with no travel/clothing expenses for work.

DS2 has landed him self a very good apprenticeship which again should ultimately lead to a decent career. He'll be earning £14000pa from Sept, will be provided with work clothes and can walk to work.

We don't "need" the money as such. We're already feeling much better off simply through not paying school dinners, school bus fares and allowances.

However, I do think it's important that they understand that part of their income needs to go towards their cost of living.

I will also encourage them to save a proportion of their income. DS1 will do this naturally, DS2 is more spendy,,

Where would you set their "keep"? What would be a good % to suggest that they save?

Did I post while everyone was out having fun?

My girls pay approx £7/day.
One is only here at the weekends and the other stays with her boyfriend half the week.

My step son pays us £100 which compared to his salary is quite a small percentage. But I have found that by telling him what his keep pays for eg the monthly gas bill Netflix and part of the house insurance he feels he is making a contribution to the running of the house. Works for us anyways

Well one third of your income is considered 'affordable' housing cost. Are they getting groceries, bills etc included?

I wouldn't charge the apprenticeship 16 year old (assuming that age) as that is still 'education'. Assuming you didn't charge your 18 year old at that age based on your post and how you're asking now.

Not unreasonable to expect the 18 year old to start contributing at this stage if working properly... but not the 16 year old imo.

Yes, it's true we supported DS1 entirely through sixth form, but his younger brother will actually be earning more than him.

As they are both earning bit different amounts, do it as a percentage of their income so in terms of affordability it's the same.

1/3 to save
1/3 to pay the bills (rent food phone fuel etc)
1/3 to spend

You can always put aside some into an account for a deposit if you don't need it.

Yes, that's what I'm thinking Hop. I'll take the keep and save it for them.

I agree with Hop. 1/3 always worked for mine.

One third is unrealistic, they could be laying massively more than the local cost.

I don’t charge mine anything

My friend charged hers and put it into a bank account for each child. When they moved out to buy she gave it to them, was about £7-10k each

But I thought that was a silly idea. Much more cost effective for them to be saving in their own isa. I don’t charge mine and they save each month and each have over £29k in a house buying isa. They need to learn to be accountable for their own money, mine know that it is expected that they save as they live for free

Not 29k, £9k.