Son got first job, fair rate for board

Mercenary Keyboard Warrior

Mercenary Keyboard Warrior

Mercenary Keyboard Warrior

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Whats a fair rate for someone who has secured first job.
We aren't talking pocket money here, around £1200 take home per month.

So whats a fair rate for all in board and lodgings?

Initially I off the top of my head said 20%, but at £240 maybe that's a bit steep, its not supposed to be a profit making exercise lol.

He eats a lot, that's probably the most significant bill, but also uses a fair amount of electric and is not careful on the usage either. Eg got locked out the other night as I was locking up I noticed his light on, so had assumed he was in, he wasn't, he had been out for hours.

So would something like £150 be fair (a month)
That's just over £34 a week over 52 weeks, allowing £30 for food and £20 a month for utils. TV etc are in effect free as we would pay them anyway.

Too high, too low?
 
I paid £50 a week when I first got a job at 16. Being an apprentice I was only taking home about £110 a week including Saturday overtime!

A couple of years later I now pay about £320 a month I think it is, obviously earning more now.
 
For what it's worth, I take home marginally more and pay £200 sometimes more if I feel I've consumed more etc.
 
I don't think i'll ever understand this culture of charging your children.

Do you need the cash he contributes? If no, don't charge. If yes, then he should be contributing whatever you need, regardless.

But maybe that view is because I didn't grow up here.
 
£100-200 I'd say. As you say it's not a profit making scheme and that should cover your costs. That'll also help him save for a deposit on a home/rental... Alternatively make it higher and put part of it in an account and surprise him at a later date (say when he's looking to move out and pay the aforementioned deposit). Depends to an extent how old he is and what he plans to do I guess.
 
£150-£200 sounds fair. That feels like covering cost and teaching him about paying his way without it seeming like you're being a mean parent.

Sudden said:
I don't think i'll ever understand this culture of charging your children.
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Teaches them discipline with money, respecting what you're providing them, learning to deal with rent coming out. Loads of good reasons tbh.
 
Depends a bit on his overall contribution to the household and expenses.

I definitely think factoring in £20 a month towards electricity, etc. use would be fair as a start then add £30-50 a week on depending on his consumption and overall contribution (which I have no idea about).
 
Depends. If he's a spender who likes the latest gadgets/clothes/cars etc then charge him more, but keep half of it to one side in a seperate account and just save that towards a deposit for when he moves out. If he's already a saver then charge less.

Similarly if he just likes to bum around all day eating you out of house and home, charge more. If he does his fair share of the housework etc, charge less.

Find a balance between that.
 
I pay £130, make around £1200 a month as-well.
My parents don't need the money, it just goes into there holiday fund and they use it to have 2 holidays a year.
I also don't spend much of anything, most my money goes towards my savings account for when I move out.
 
Sudden said:
I don't think i'll ever understand this culture of charging your children.

Do you need the cash he contributes? If no, don't charge. If yes, then he should be contributing whatever you need, regardless.

But maybe that view is because I didn't grow up here.
Click to expand...

He definitely should charge. I'm 26 and live alone now but I'm very glad my parents charged me board once I was working as it teaches you valuable lessons in life ie budgeting, realising things cost money etc.

£150-200 a month is reasonable out of £1200. My rent/food/bills are about 30-35% of my take home pay nowadays
 
Charge him £200, put £50 a month in an account, when he moves out give him the savings to help set him up.
 
My Dad never charged me a penny, but he earned very good money and had no mortgage so didn't really need it.

When my parents split up and I lived with my mum, I paid £200pm and I was earning about £1400. Mind you, I was 22 and it was in 2002. Quite a decent wage for a 22 year old 12 years ago.
 
Yeah my parents charged me 30%. When I finally got to the point of buying a house I had the deposit ready and then they gave me back about 60% of everything I had paid them over the years in rent.

It's definitely a good idea it helped teach me the value of money. They didn't do it for my sister and she's always broke/in debt (may not be 100% the fault of not paying rent though).
 
Nothing. If you can't feed 'em don't breed 'em.;)

Seriously. Charge him something so he appreciates the value of food and lodging but put some of his board money away for him so he has a deposit for a house when he flies the nest.
 
Sudden said:
I don't think i'll ever understand this culture of charging your children.

Do you need the cash he contributes? If no, don't charge. If yes, then he should be contributing whatever you need, regardless.

But maybe that view is because I didn't grow up here.
Click to expand...

Always been a tricky one for me as I'm back living at home again at the moment and I don't like to feel I'm not contributing or paying for what I consume, etc. but my parents are comfortably off and not really interested in it so a little awkward - I usually stick about £100 over a month.

Mynight said:
It's definitely a good idea it helped teach me the value of money. They didn't do it for my sister and she's always broke/in debt (may not be 100% the fault of not paying rent though).
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Sisters are always like this :S
 
I had an arrangement with my mum when I lived at home that instead of her charging me I had to put a minimum of £200 a month into a savings account.

Taught me the same discipline with money and instilled a good saving ethic too. Also speeded up my moving out as I could afford the deposit on my own rented place earlier.

/Salsa
 
If you think £150 is about right, then charge them £200 each month and put away £50 from that towards a deposit for their house - whether it be a bought or rented house. But don't tell them you're putting away £50 away every month, I'd keep it as a surprise.

Edit: I'm too slow.
LOAM said:
Charge him £200, put £50 a month in an account, when he moves out give him the savings to help set him up.
Click to expand...
 
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