Charging Your Kids Rent?

A high school friend of mine still lives at home, she’s 28 years old. She works full-time, has a car and only had a small amount of debt from one year of college which she paid off in a few months.

It was no secret that when we graduated high school, if she, same with her brothers, chose not to pursue post secondary education they would have 6 months before they had to start paying rent to live at home.They were expected to work full-time and couldn’t just sit on the butts at home.  I don’t think this is a totally unrealistic request of parents.

Forcing your child to start contributing to the family’s finances is a smart way to teach great money management skills while in the safety of the family home and much less risk than being on their own. Since she started paying rent she was now allowed to have a say in the running of the house. She wanted her own land line in the house (she didn’t have a cell phone at the time) so she sat down with her mom and went over the family budget with her new rent contribution and budgeted in adding a second line to the phone budget. Her mom was a sweet, organized lady who taught her daughter a lot about ‘life skills’ so why is her 28-year-old daughter still at home then?

Never increasing the menial rent and allowing her daughter to stay too close to the security of home has allowed my friend to get much too comfortable.  In her moms eyes, as long as she was paying rent, what my friend did with her money was ‘up to her’ as she had already taught her the skills, it wasn’t moms responsibility to implement them. The end result is my friend being 28 and still living at home. She blows through her money on food, clothes and crap for her ‘bedroom’ that she doesn’t need. I can only imagine what I could accomplish if I lived at home for 10 years after high school only paying $150.00/month.

I have no problem, and actually think it could be a smart move to charge kids rent who are not in post secondary and live at home after high school. Never charging any amount that could interfere with potential goals (if they’re taking time off school to save for travel or save for education etc) but I think by charging rent it teaches responsibility as an adult. Having said this there has to be some guidelines. My friend is still at home because she still pays the same $150.00/month in rent that she did when she was 18.

I understand that mom is now compliant with their living situation but at what point do you force her to gain a life of her own? Something I would have done a long time ago. Mom needs to jack the rent up to a more respectable amount if she’s going to continue to allow her to live there, then maybe my friend will realize she could have a place of her own where she can start a life (of her own!) for the same amount of money. Once she gets this realization in her head, maybe, just maybe, she will start saving for said abode. Who knows? All I know is that I may have a crap load of debt but I wouldn’t trade my life, home, family and independence for anything, especially living with my mom at 28 years old.

Who has, or plans to potentially, charge their children rent after high school? OR Who has paid their parents rent? Opinions please!

{Note: I am not saying all situations are the same. I realize some people stay home for many different reasons, I know people in these sorts of situations. There is no ‘situation’ around said story, my friend is just a financial lazy ass with Momma encouraging it}

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4 thoughts on “Charging Your Kids Rent?

  1. I don’t exactly plan on having kids but I agree with the philosophy here. I hadn’t thought there would be an issue of staying tokblong like this, so raising the rent seems necessary at some point!

  2. Pingback: Mr.CBB’s Weekly Blog Post Picks October 5, 2012 « Canadian Budget Binder

  3. I had to move back home for less than a year while I was in between jobs. I didn’t pay a specific rent, but was responsible for one of the utility bills. The time at home helped me get back on my feet, which made me very grateful. I don’t quite understand choosing to stay for the next ten years though. I know a lot of newly graduated college students who have no choice. One bedroom apartments are expensive, however I agree that there should be some encouragement from home to move out. There’s so much you learn when you have to pay all of your own bills and run your own household. It really does make a difference.

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