How much board does your young adult pay?

[Rainingdogsandcats]

DS is 22. He's had some debts because of gambling so since he got a decent enough job about 15 months ago I haven't taken any board off him so he could try and get back on top of things.

After Christmas he has to start paying. He brings home around £1300 a month. Runs a car and phone.

What do your young adults pay?

Mine pay me 10% of their take home.

£50 per week, includes food unless they're not home for mealtimes.

My daughter is 21 and pays £200 a month. We’re saving it for her, and she knows this. She took out a help to buy ISA before the cut off date, so we might put the money in there, if that’s possible.

None. A student and earning minimum wage part time.

10% is generous.

Means they can save for their own place/deposits etc.

Rent deposits* and essentials for the home

OP it depends how long you want them to stay 😁 I think anything more than 10% will mean that they will remain at home for much longer. Is he intending to save for a deposit?

We are fortunate enough to be able to gift him a deposit when the time comes but I don't necessarily want him to know exactly how much.

It's tricky as his gambling hasn't gone away and he pays DH £ back each month too. I don't want to leave him short to enjoy life as he can suffer with low moods but also he needs to start paying his way a bit too.

when mine were doing low paid jobs we charged 25 per week. son is currently studying and we give him some money as his grant/PT work arent enough.

if you are too leniant wont it just allow him more money for gambling?

Mine is 23. Nothing- she pays all of her earnings minus about £300 into a deposit account/house buying isa. I pay for her car insurance (multi car policy) and phone (on a family deal so not really cheaper to remove it) . I keep her and feed her. She buys petrol and some entertainment

She and boyfriend want to buy in summer 2020 and want to have a £40k deposit between them. At this rate they will have more (or can buy sooner- lets hope)

Mine always paid 25% of their take home pay.
For that they had all the utilities including internet, all food, drink, toiletries, laundry and cooking done.
However, I used to put away 15% of it which I gave them back when they married so they had a nice amount to start up with.

dreamingofsun no I absolutely do not want to enable the gambling. Is £1300 a low paid job for someone his age?

He's hopefully joining DH'S company in the coming 6 months but he has a couple of courses to do first. Company will pay for those as they're expensive. He'll have better pay once he moves jobs.

He wants to move out but can't really afford to at the moment.

raining - one of my son's was earning about 500 a month. part of the reason we charged rent was to encourage him to get a better paid job.

1300= 15600 per year. Grads start on around 26k. my guess is thats a full-time minimum pay job that he has

You could maybe have a conversation about his fixed costs and what he has left after that. you could also work out how much your fixed costs are as he ought to be paying a share of those based on who many people in the house.

then its a case of how much you need the money, and if you are comfortable that he isnt blowing any spare cash on gambling (in which case i would up the rent). Maybe make this a part of the agreement...though not sure how you would know if he stuck to it

The way I see it is a room in a house is around £400 a month where we are (South East) which in the main includes most bills, but of course not food.

So at 20 years old and earning £1,200 - £1,800 a month (depending on work pattern) - the £200 we charge is peanuts. But i'm often told I pretty harsh - lol

£1,200 a month after tax (a bad month)
£200 rent
£60 phone
£200 a month travel
£300 savings (more in a 'good' month)

Leaves £440 as disposable - more than enough imho

Nothing, but he is job hunting and we have just returned from abroad. He pays in kind by doing the washing up and cooking for us at times.