Do you charge your late teen rent?

[MarzipanMice]

My DS is 19 and has just started his first full time job. He’s just above the minimum wage level by a few pence per hour. He has a car which requires a lot of maintenance due to its age and his car insurance is expensive. He’s fairy good with his money and puts a set amount aside into savings each month. DH feels we should start charging DS rent, but I’m not sure I want to just now. Maybe if he was on a higher wage, but I’m not keen just now.

what do you do? And if you charge rent, what do you charge?

I wouldn’t in that situation unless you need the money. I would expect your DS to be paying for everything to do with his car and for nights out, clothes etc, and any additional/treat food above what you provide in the house.
I would rather he was able to save a bit of money for potentially getting his own place or a more reliable car. If you think he is being irresponsible with money and wasting it then you could think about charging a minimal rent and keeping all or some of it back for him in a savings account.
I would however expect him to be pulling his weight around the house with taking turns to clean, make dinner, do his own laundry and that kind of thing

Whilst they're students, our DC aren't expected to pay rent but once they've finished in education and have a job, they are expected to pay rent of a sort. For us, the idea behind it is to help them get used to not having all their pay as disposable income and to develop the discipline of paying bills etc before spending on leisure and luxuries. The current agreed rate is £80pw which is less than half the cost of a room in a shared house locally.

My dd1 worked full time for a year after A-levels. We didn't charge her rent because she was saving nearly all her wages to pay towards her very expensive university course.

If they weren't already saving for something, or if it was a more long term not temporary situation I'd be more inclined to charge them.

No. But there would be a full expectation that they will be pitching in with chores, cooking, doing their own laundry and generally not living like pigs.

I do but it goes into an isa for them - they don't know this. I think it's helpful for them to learn to budget and manage money and when they are ready to move out they will have a pot of money for furniture or whatever they need

Yes, we charge our 19yo DD £200/month towards food and utilities. Zero guilt about that, times are tough and she has much more disposable income than we do at the moment. She’s still able to spend what she likes and save as well.

No but we do make him save 20% everything he earns

19 years ago - kids I knew moved out...they didn't hang around for years after they graduated - times have changed. Never thought I'd have adult kids living with me.

I did and my son moaned about it when I told him . I explained how much the bills were and he understood. Funnily enough, his son is now working and he is charging him rent ( not a huge amount) because he said it helped him budget and to be prepared for life away from home.

Yes we do but he’s only just turned 20 and earns £33k a year. He does naff all in the way of household chores (except his own washing and ironing) so I feel it’s more than fair. He has a hefty chunk of savings already, he’s done a stint of travelling, drives a nice car and has a busy social life. His life isn’t that hard living at home for a couple of hundred pounds a month!

20 years ago I didn't know very many people who went to uni and many stayed at home into their 20s and paid digs. They generally didn't move out until they either moved in with a friend or a partner. I was an anomaly and a novelty as I moved out at 18 due to a poor home life. I was the one with the flat and was unusual for it.

It’s dreadful, of course it’s not all their fault because things are so expensive but it’s like they don’t even try and save up etc. They are so entitled these days (not all of them).

Yes because it's teaching them about the real world and bills/rent cost of renting alone is crazy not just for them for anyone

Its an odd 'lesson' - we'll take this money from you and prevent you from learning any actual budgeting because we'll save on your behalf, and then give you every penny and sometimes more back, so I fact you won't have contributed to your household financially at all. What is the actual lesson?

That's got nothing to do with a lesson, does it?

Don't you trust them to save their own money ?

No and DD is a lot older. She is not yet in a FT job, and earns minimum wage. We are no longer contributing to uni, so are saving a lot there. When she gets a FT job, it depends on how much she will earn. I would rather she saved any extra.

Because he probably wouldn't put that additional amount into his savings on top of what he's already saving. This way, he's learning to navigate the cost of living by saving some and also having some going towards 'rent'. If his parents can afford to keep that money aside for him for when he needs a house deposit, that's even better. That's what my parents did for me but not everyone can afford to. And it's even better if they don't tell him that plan. That way, if things are tight a particular month, he won't be tempted to cut his savings, knowing mam and dad are putting money aside for him. It'll help teach him how to budget, maybe having to cut back on socialising that week or whatever. And I'm talking about his parents charging him a nominal amount, not full on rent.

Interesting. As I said up thread, I’d never charge a child for living in the family home, but I would expect all family members to pitch in with cooking and cleaning etc once old enough to do so.

Do you mind me asking you what apprenticeship he did?

It was at a car manufacturers

I charged a small amount to cover basic cost once they left full time education and had a full time job. I started after they had been earning for 2 months. It covered everything food, huge room, super fast internet, Sky TV in room with Movies and Sports and TNT Sports, mobile contract, electric, gas and water. I charged little on condition they saved a good amount every month towards their deposits. When they left I matched their deposit with money they had paid me. As a result all 3 DC are good at budgeting.

No. I’d hope that he’d be saving some money for when he does move out. I’d also expect them to be paying for their phone and do their own laundry. But no I wouldn’t charge rent, especially if they are saving. If you are buying all their food then maybe a nominal amount as suggested above.
My son earns just above minimum and is living in a property I own. I don’t charge him rent but he pays council tax, all utilities, internet etc. Of course food and transportation. He’s saving for a car.

This always comes up on these threads.
I totally disagree.
If you didn't teach your toddler to tie their own shoelaces they would never learn.
Teach your teenagers financial management, teach them about savings, pensions, investment and credit. Don't do it for them.

As to whether to charge housekeeping, if you need the money then do it, if you don't then don't. He won't live at home forever and the more he saves for the future the better.

Yep, 35% of his (minimum wage) job to cover rent. That’s an awful lot cheaper than a bedsit plus bills would be.

Guess you’ll have to be prepared for him living with you for longer then?