My boys have left home !

[l709]

Hi, I am new to Mumsnet and am an 'older' mother! My eldest son left home last year and now my younger son has told me he will be leaving soon - in a way, I am not sorry to see them go as they need to make their own lives ..........but not forget to visit frequently. Anyway, for many years we have had an 'income' from them both, it was a struggle when the first one left and now it will be even more of a struggle when the second one leaves - has anyone got any handy tips on how to save money...........I have looked into cancelling the extra Sky subscription (for which he paid for anyway!) utilities will go down eventually but not immediately ....I will shop frugally ..... all bills are paid monthly.... Any suggestions very welcome

Could you take in a lodger to cover your shortfall?

Would you qualify for a single occupant council tax bill now?

Unfortunately no, I am married lol

Can you downsize?

Do you work full time? My parents downsized to 2 bed places after we left and freed up money, could that be a longer term option?

What about the lodger idea? That sounds like the logical approach to be honest.

Re lodger look at spare room. com and also the Government:s rent a room scheme. You can receive rent without paying tax. There are rules for this scheme of course.

Do you work ? What plans/savings/pension do you have for your retirement ?

Spare room dot com

Look for someone that you would be comfortable living with, took me a while and a few viewings. I knew within the first 5 minutes.

It’s tax free up to approximately £7k

You do need a gas certificate which cost about £100 but you should always get it test every year anyway for your own safety

Ivykaty
Do you need a gas safety cert for Rent a room or just for that site?

Renting a room you legally need a gas certificate

Don't you and your husband work? I never knew any parent who was quids in when their children lived at home, no matter how much board they paid! Usually everything's cheaper when they leave.

If you pay your council tax over ten months, get it changed to over twelve months, it means you don't get the two months off but reduces your monthly payment which helps a bit.

I'm also gobsmacked - never new parents be quids in with adult children at home. Wowzer - it's sounds like you've prepared them well for standing on their own two feet.
Is down sizing to a smaller property / mortgage possible for you and DH?

I'm also gobsmacked - never new parents be quids in with adult children at home

Not everyone one is. When our children left home for uni and to join the army our household bills went down however we still had to support DS2 through his degree. Now he's graduated our expenses have reduced again.

From the little information the OP has given I'm presuming they're a low income family and have lost tax credits

*knew
I never thought of that - my friends mum has over sea students, she loves the company and I thiNK the money's ok.
If you're in a Uni town/city maybe you could look into this?

How much did your sons pay and what did it cover? You may have less money coming in, but you'll have less outgoings too. It costs a lot for (adult) children to be at home even if they are chipping in.

Shut their bedroom doors and turn tne radiators off
Meal planning: I bet your shopping bill will plummet and you don’t need to buy food for the fridge ‘just in case’. Plan economical meals, don’t buy extra.

Down sizing sounds like the obvious option here. How many spare bedroom do you have now?