A father on the forum asks: My wife and I have 3 great sons 13, 18 and 19 going on 20 next month. We live in a high end area in So. Cal. my wife and I make pretty good money but like most tax paying Americans we have credit card debt. Our 2 older boys work for me and my oldest boy is on his 4th year at a local junior college. They have bank accounts and do an okay job with saving their money while we pay the debt accrued through credit cards along with the normal day to day living expenses.
Our oldest boy chose college so he pays 500.00 a month and our 18 year old chose work so he pays 550.00 a month for rent. Now they both work full time and I would like to raise their rent to $650 for the 19 year old and $700 for the 18 year old. Am I crazy?
My wife does not agree with me. This rent raise will help pay off out credit card debt that much quicker and even though having children was our decision. Most of the debt was accrued for them. Now they are able to help pay some of it off i feel they should.
Denise's thoughts: While I understand the debt and your wanting to clear it as soon as possible, I agree with your wife on not raising the rent. Although, if you want your sons to contribute more to the day-to-day expenses of living in your home, you could draw up a bill for their weekly or monthly food consumption, splitting the food bill - or other expenses - with them. This will help them understand how much it costs to have them at home.
Another reason I would be careful about raising the rent would be the possibility of them moving out too soon. Being independent is a big plus to moving out in a young adults eyes. If they can get away with having a lower rent, with maybe a roommate, your raising the rent could be the push that sends them out the door. That could be what your wife is seeing.
Asking our parenting teens community: Should dad raise the rent or no? Please share your advice and opinions in the comments area.
Our oldest boy chose college so he pays 500.00 a month and our 18 year old chose work so he pays 550.00 a month for rent. Now they both work full time and I would like to raise their rent to $650 for the 19 year old and $700 for the 18 year old. Am I crazy?
My wife does not agree with me. This rent raise will help pay off out credit card debt that much quicker and even though having children was our decision. Most of the debt was accrued for them. Now they are able to help pay some of it off i feel they should.
Denise's thoughts: While I understand the debt and your wanting to clear it as soon as possible, I agree with your wife on not raising the rent. Although, if you want your sons to contribute more to the day-to-day expenses of living in your home, you could draw up a bill for their weekly or monthly food consumption, splitting the food bill - or other expenses - with them. This will help them understand how much it costs to have them at home.
Another reason I would be careful about raising the rent would be the possibility of them moving out too soon. Being independent is a big plus to moving out in a young adults eyes. If they can get away with having a lower rent, with maybe a roommate, your raising the rent could be the push that sends them out the door. That could be what your wife is seeing.
Asking our parenting teens community: Should dad raise the rent or no? Please share your advice and opinions in the comments area.
I do not think he should raise the rent on bth. The son who chose to go to college, is juggling school and a full time job while the other is not, the one who is not shld pay more than a $50 Difference.
wow I have never heard of such high rents for kids.
We charge are one daughter who has a home business and lives at home 175.00 per month.
I just think that is excessively high. I think most parents when we researched it charged their full time working children 350.00 per month.
Our children have been good savers and generally use their money wisely…the way my husband looks at it keeping the rents low allows our children to gain life experiences by using their money to say go on a mission trip to help others in need…that type of thing
In some cultures, the whole family contribute all of their earnings to the household income. If your children are not wise with their money and are reckless spenders then I would raise their rent. However I have found in the past for our own family is to hold a family council where you outline the financial situation of the family and the desire for wiping out the debt that has potential to cripple your family. You will find that children who are earning want to help out even if it means paying more rent for the short term. They apprecciate being envolved and have a greater understanding of what is happening in the home
I live in Alaska where living expenses can be a little on the high side. I am a single mother that has raised 3 boys living at home. The boys are 20,19, and 15 years of age. The 2 oldest go to college part-time. They are working now and even the 15 yr.old has a job after school.
Though I understand the need to get out of debt, I think teaching the boys how balance work, school, and extra activities financially is really more important. My boys pay in $250.00 each month( the 15 yr.old doesn’t have to) and are pretty good at saving money. They feel good that they can go out buy things and do things w/o asking Mom for money. I have also broken down the expenses right down to toilet paper,to show them how much things cost and what to expect later on. They like staying at home saving money! They have decided that it is cheaper living at home and they do not mind helping out. They also realize how much money has been spent having children, so they are in no hurry to have children. Thank goodness! And how to budget. When it’s time to pay bills, the boys want to know if there is enough or do I need a little more.
I think Denise is right about not wanting to charge more. Children should help when they are able. I think children did contribute to some of our debt but I do not feel that they should pay for it. I was a single working parent (w/o child support) and I have paid off everything but the 1 credit card that I use. Include your children and you’ll find that they are willing to help the family if you let them.