Do you charge your teens board, rent? What do they call it these days?
My 16 year old daughter earns approx $300 per week, working part time while still attending school full time (year 11)
She has been working for just over a year, I initially didn’t take anything from her as she was an amazing saver, purchased herself a brand new Mac book within months of starting work. We had discussed savings, goals, ect and still treating yourself. I thought she was continuing to save but it has now come out that there is no where near what I thought there would be in the account and her spending habits are starting to get out of hand. A lot of makeup, clothes, food ect.
I want to start charging her a small amount, I’m thinking $50 per week. My intention is to have this put into an additional savings account that could eventually be used to fund her moving out, when that day comes. I feel like I’ve missed that boat and that I should have been charging her from get go.
How much do you consider a reasonable amount, given the income?
9 Replies
I don't charge my teens board until they turn 18. Partly from a personal experience when I was a teen and other reasons like I think parents should be supporting their kids until 18, under 18's usually don't earn much and should start out budgeting for their own things like clothes and phones. It also evens things out and makes it fairer, if you have one child that is going to school and working and another that isn't, how is it fair that the one doing all the hard work gets charged board and the other doesn't? It also starts arguments with housework as the kid paying board seems to think they don't need to do any jobs because they are paying board. I just do $100 a week from 18, working or not if they don't have an income they have to find extra jobs to do to make up for it.
This is the only time in her life where she will be able to spend frivolously.
I loved that time, let her enjoy it.
You also are probably spending less on her.
You should be proud to have such a hardworking child, well done mumma..
I think it’s your daughter and what you think is right. I personally believe it will help her understand the cost of living and appreciate what she has. $50 is a good amount. She will waste it anyway and you are keeping it for her. Don’t tell her that.
I didn't charge any of my kids until they turned 18. And even then it was only $50 - $100 a week each. In reality it actually went back to them in expenses such as food and electricity/ water/ gas as what they actually paid didn't cut it, Lol.
She’s 16. I wouldn’t charge her anything. She is still saving even if it’s less that expected. She has her whole life for that commitment and all the expenses. Let her be a kid.
My 14 year old daughter works, I don’t charge anything. However I do have the expectation that she will save 70% of her wage and spend 30% if she wishes. As she is still a child and still my responsibility, I pay for all of her necessities and incidentals- clothes, toiletries, sanitary products, shoes, canteen money, phone bill etc. Anything she wants extra, she pays for.
I also give her $25 per week pocket money if she continues to save her money and make wise choices, does her chores around home, does well at school, continues her commitments to sport and work etc. If she slacks off in those areas she gets no pocket money and I find that bothers her.
This works for us. She’s very money savvy, and her working is to benefit her in the future- and as long as she is living under my roof she will not have to pay to live here. I like the idea of charging board and then giving it back to her one day and it might have been something I’d consider if she wasn’t good at saving, but I’m also not sure it would teach her anything because I believe it’s important to understand how to make the effort to save, and how to be disciplined.
My daughter has worked since February this year and earns $11-$14 an hour. She does other odd jobs when able to, and has saved almost $3000. Once she was able to see her money growing she was less tempted to spend
I didn't charge my kids while they were at school and working nights or weekends. But once they finished year 12 and got jobs l charged them $75 per week. It went towards food, electricity, gas, internet etc. They also had to buy their own clothes and pay for their own phones etc. The kids need to contribute towards the house and learn that in life you have to pay for bills. It is better for them to learn and get use to paying for rent and bills. So when they do leave home they will have a better understanding of the real world.
Absolutely
The sooner they learn that you can never keep all your money the better
Work on a % of wages with a capped board
An example might be 1/3 spend 1/3 save 1/3 board
This works well when they are only earning small amounts
If they earn $100 pay $33
Cap might be $50
It’s all very honorable to put aside the board money, but we needed it to live and put food on the table
Never hurt any of our kids
They are excellent budgeting and have bought and paid of cars, eldest saved for a house
Personally I think it’s wrong to set kids up to think the entire wage is all for them even if they are doing good with it
How dare a 14 year old work and think their entire wage is theirs?
Gosh I feel sorry for the kids of today, did you get your 14 year old to read the barefoot investor?
When, if not now, will they ever be able to enjoy financial freedom?
I'm a single mum and the day my kids who are students have to pay for my poor management of money/lifestyle choices, would be a day of great shame.
No child of mine is ever paying for my food and mortgage.
I had my kids knowing it's my job to provide for them, not the other way around.
They go to school all day, plus work, I hope you were working two jobs like them, not part time or casual or "stay at home mum" smh.