Finances when child does an apprenticeship

[Welshmum2010]

I’d always thought my child would go to university and I’ve been saving up to help fund this. They are not starting an apprenticeship at 16. We are both very happy with this as it’s a great opportunity with prospects and will be better for them as they aren’t enjoying formal education. The slight issue I have is the financial side. I am a single parent and my child maintenance and benefit will stop. her dad pays the maintenance but has made it clear once that officially stops he won’t contribute Personnally. I want them to able able to keep all their wages for things they need and to save for car etc. however it will leave me a little short for bills etc. they will continue to live here for 3-4 years and I dont want them to have to contribute. They have An isa of several £1000 that will pay out at 18. I have savings that I was keeping for university in my name and they are not aware of how much this is. I feel guilty about dipping into this for monthly costs but it’s not needed for the original purpose. I think I can use a little and still have a lump sum to go with the isa. What would other parents do or have done in similar circumstances .

I think you maybe right

How will you be better off when they move out?

That’s fair, I also did the same as someone else suggested.. My son brought all his own clothes/trainers/holidays unless it was his birthday or Christmas and he asked for something.

At the end of the day if you need to use the savings to top up your finances then it’s better to do that than get into debt however doing an apprenticeship at 16 doesn’t necessarily mean they won’t decide to go to uni at 18. I think no longer paying for phone and gym would be reasonable as well as encouraging them to save. Maybe lay some ground rules for expectations of paying board if they either get a job or continue on another apprenticeship at 18.

Because cm was to help cover food, school meals, uniform, clothes, shoes, sports gear, clubs, music lessons, school trips, bus fares, holiday clubs, all the usual costs of a child at home.

£500 a month? That is unlikely.

my point is, using savings is a short term solution. If op is £500 down per month and cannot meet her bills, she needs to up her income fast.

Is their dad really going to just end all contribution even though they still live at home and are a teenager? Sounds wrong even if legal.

I think the child should understand cost of living etc. It might not be healthy for them to think they have 1000 spending money a month given most adults don't after rent

Could they chip in so you can keep the savings for them ?

If you need the savings though then dont feel bad

Unfortunately it is true that CM can end when a 16 year old gets a paid apprenticeship. Child benefit also stops if you're claiming it.

It is annoying, as if the parents are still together it is very unlikely that one parent would just decide to stop funding their child altogether in these circumstances. Apprentice wages are not high and the child will still need support to house and feed themselves.

Nothing wrong with making them contribute we let our have there 1st 2 pay packets then took board
I don’t think £150 is a lot
they should be clearing about £900

In the situation you're describing, I'd stop putting money in the uni fund ( dc isn't going now) . How much a month does that give you back? Then dc can pay for her own phone, travel, lunches, socialising etc from her apprenticeship wage. That should save you a good chunk of the £500 your losing.

I often think that lots of disposable income come isn’t necessarily great when starting out in the world of work. Bonkers to have £1k a month fun money if you will be skint.

I’d ask a contribution to food £25 a week and they pay own travel/ phone/ costs plus save whatever shortfall you take to cover your outgoings. So if you reckon you will need £300 a month ask them to save thst amount in an ISA/ LISA.

I think a third to savings, a third on travel, food, phone, other necessities and a third for fun seems fine.

Yes £1000 for fun would be a lot if you literally have no expenses.

I thought "for him" meant he would pay his own transport, food when out the house, phone, entertainment and savings, but that he wouldn't be paying rent, gas, electric, water, council tax , tv bills or food in the house.

£1000 a month is a decent sum of money for a 16yr old living at home with all food and bills included. If it's leaving you short I would definitely be asking for a contribution towards the household living costs.
realistically though you need a longer term plan because it seems that without the child maintenance and benefit you're living beyond your means.

This is very unfortunate when you are a single parent. £1000 is decent for a 16 year old living at home. I would maybe ask your DD for £150. Will you get CB? I would double check with CMS around the rules of apprenticeship.

Does DD get along with her dad? Maybe you can come to an arrangement that he pays a small amount. Tricky age OP.

You saved money to suport them through education. Using that money to top up their cost of living expenses while on a low apprenticeship wage is just as valid as using that money to top up their cost of living while at uni.

Either way your using the savings to allow them to focus on education without having to worry about earning.

Sorry if it’s already been covered I did have a quick read, but can you say how you get your monthly income excluding child benefit and maintenance? Do you work? If so is there no chance you could work more or move jobs to a better opportunity?

I certainly wouldn't be asking for money from a 16 year old. It would be the opposite way round if he was off to uni, and the apprenticeship route is actually saving you a fortune.

You would be perfectly reasonable to use some of the money saved for uni for his living expenses, as it will still be supporting his education.

If their take home pay is £1000 a month then I'm sure them paying you £150-200 a month is ok?!

I would have loved £800 a month disposable income at that age!!

I also think longer term it would be better for them not to have £1k fun money as once they are used fo that you may find they never move out 😬😬😅😅

@Elle771

I think it's totally inappropriate to be taking money from a 16 year old to live in their own home. It would be seen as totally scandalous in most cultures.

I think the OP is perfectly within her rights to use the money saved for his education for that purpose.

"Totally inappropriate" is a bit strong 😅 and she doesn't have to take it by force lol nothing wrong with a conversation about it.

If 16yr old doesn't want to then sure use her savings to cover bills, however savings will run out at some point and at 18 I think its reasonable to revisit the conversation and insist on a contribution

Its your money that you saved for their education. This is their education, I don't understand why you wouldn't use it.

Regarding keep, at some point I think you should have that conversation. I would have been devastated as an 18 year old if my mum had been worrying about money and I wasn't contributing. If you're not included in it then you're not being treated like an adult. It also doesn't do you any favours, the earlier you start to learn to budget the better.

It's fine to use the saving you earmarked for uni - it's your money and it's not required for that purpose anymore, whereas it is need to help you support her while she is earning less than a full wage.

@Elle771

DH is Spanish and it would be absolutely scandalous if a parent was charging by their 16 year old to stay at home.

He says it would be literally the talk of the town and grandparents would be staging an intervention.

I'd use the uni savings definitely. I'd also ask for a contribution towards rent £100-200 on a £1000 wage. My adult children have always paid and I think it's a good habit to get into, life isn't free.