How much Board do your kids pay?

And yes for god's sake my dad has helped me!!! Thats exaclty my point!! People I am saying you should help you kids as much as you can like my dad.

MANDY
I (We) are telling you that the majority of families can't do what your Dad has done for you because the Dad's and Mum's don't have the money/income/wealth etc.


HELP KIDS
Well yes we do........but I have never meet any child who got 11K for their birthday so congratulations you are unique.

I only spend $100.00 per child for Christmas and the same for birthday except this year we lashed out and brought the kids a washing machine each and said this is the end of help from your parents as your father is now unemployed.
 
Good post L'il skater, you have a great future ahead of you!

To be honest I can't take this poster seriously I reckon its just a wind up - jeez it must be surely!

Fess up who is it?
 
MANDY
I (We) are telling you that the majority of families can't do what your Dad has done for you because the Dad's and Mum's don't have the money/income/wealth etc.


HELP KIDS
Well yes we do........but I have never meet any child who got 11K for their birthday so congratulations you are unique.

I only spend $100.00 per child for Christmas and the same for birthday except this year we lashed out and brought the kids a washing machine each and said this is the end of help from your parents as your father is now unemployed.

I don't think Mandy actually suggested do exactly what and all that my dad does.

There are always people with more and always people with less, can't change that. Doing what one can does not mean keeping up with the Joneses
 
So interesting! I went searching for this thread last night to re read as my 23 yr old has just come home to live for a while after living out of home over the last four years.
After 4 weeks I suggested to her that she might like to pay board like her siblings. She agreed but is really upset about the $80 we have requested. Even though she earns three times as much as her brothers and sisters. She just looks at how much we are getting each week and feels it is wrong that her parents should be making money from their children. Apparently everyone down at the pub is hearing about her gold digging mother.
So I went through our expenses for 2008 and divided them between the number of people living in the house and what do you know it worked out at $116/wk.
Have yet to share this with my daughter!

When it comes down to it all family relationship dynamics are different. Some children are more grateful or helpful or better with handling money than others. But noone should have a freeloading mentality. Parents should want to be a blessing to their children and children should want to be a blessing to their parents. Idealistic maybe but wouldn't it be great!!
 
Hey Guys, yes I may be ignorant and yes I guess I am spoilt. Yes my dad is paying for my degree and yes I did get 11k for my 21st. We had it at a function centre where some people dont even have their wedding at, and all my family give good presents, except my bf sister who came with 2 adults and she has 3 kids and gave 50 bucks !!!!!!!!!!!!!(even when us 2 went to her house which was BYO and gave her $150 for her 30th).

I have now officially got a lecture from my bf about what I wrote and he agrees with all of you who say I am selfish and spoilt (although he doesnt agree, as he knows me, that I wont be prepared for the world ahead due to this). Sorry if I offended anyone!

BUT I still think the best thing to do is take money from your kids but give it back to them when they are older and wiser. And my parents wouldn't accept me giving them money anyways. Its totally ludicrous to give people who make atleast30 times more than me a month some rent, and they agree.

Another question: Skater or Skater Junior, do you have to pay anything when you go on holidays with your parents/family? For example if you go to Europe, or even just a trip to QLD?
Would you have to pay for food or accomodation or flights? Where does this 'rent' stuff stop?
 
I think also what we have to consider is the situation of each family.
Whether or not they have 1/2/3 child/ren, if both are working, and income
from investments. Yes if the parents or parent is finding it hard to get by,
then I think maybe the child could help out.

I just dont think its that good and I dont like it and I won't do it and I think CSC has the right mentality.

And I am studying finance and I love $$$$ so I like to save. My bf and myself also have shares which we bought end of last year. They have increased 65% (my dad advised us against getting them LOL)! Once again, I dont know anyone of my friends who have shares and that much money in the bank...and some of them pay board (not many though) and others dont. It all depends on the person. My sister is 20 and she doesn't save as much as I do...so my dad is actually not going to give her her 21st money coz he doesnt trust her with it like me!!

Its all up to the parents ultimately and there is absolutely NO way of knowing what is the better option. You can't say there is? You all keep saying things along the lines of, you will find it hard when you go into the real world, but atleast Ill be going out in the real world with a bit more $$ than most, because i didnt have to give it to my parents. They instead, let me keep my money that I earn.
 
I find it very strange this "board" concept. I didn't have one friend who paid to live with their parents, be it for food, bills or savings. If you want your kids to save then teach them to invest or put aside a certain amount each week.

My folks were happy for me to pay my own way from the moment i got my first job while at school years back and help out with the odd bill here and there. They were still able to teach me valuable lessons along the way.

Charging your kids to stay with you???? OMG!
 
I find it very strange this "board" concept. I didn't have one friend who paid to live with their parents, be it for food, bills or savings. If you want your kids to save then teach them to invest or put aside a certain amount each week.

How can a parent "make" a 20 year old MAN put away some money each week.

My folks were happy for me to pay my own way from the moment i got my first job while at school years back and help out with the odd bill here and there. They were still able to teach me valuable lessons along the way.

Just the same as paying "board" but called "helping out with the odd bill here and there".

Charging your kids to stay with you???? OMG!

My "kid" who is paying $20 (Pffffffft!!!) a week is a MAN. He is not some little kid who needs to be told anything (God forbid I try to tell him anything - he knows it all :D).

He is enjoying full board, food, a large bedroom plus ensuite and he reckons $20 is too much. Oh please!!!!!!!

We paid his first two years of HELP until one day when we were having an argument about his "excessive" board I said to him "How many of your friends are having their HELP paid up front. You will be leaving uni with no debt, instead of a debt of $35K or more".

His answer....... (wait for it......) "Well it doesn't help me NOW." Result is that we stopped paying after the second year. He should have zipped his lip :).
 
And I am studying finance and I love $$$$ so I like to save. My bf and myself also have shares which we bought end of last year. They have increased 65% (my dad advised us against getting them LOL)! Once again, I dont know anyone of my friends who have shares and that much money in the bank...and some of them pay board (not many though) and others dont. It all depends on the person. My sister is 20 and she doesn't save as much as I do...so my dad is actually not going to give her her 21st money coz he doesnt trust her with it like me!!

That will cause a lot of trouble, I reckon. How does your sister feel about that?

Its all up to the parents ultimately and there is absolutely NO way of knowing what is the better option. You can't say there is? You all keep saying things along the lines of, you will find it hard when you go into the real world, but atleast Ill be going out in the real world with a bit more $$ than most, because i didnt have to give it to my parents. They instead, let me keep my money that I earn.

You will only go into the "real" world with more money than most because you have been handed it on a plate. My parents could have done that for us, but I would not have taken it. I wanted to build my own life, and not be some pampered princess with no feeling of having "done it myself".

Obviously, if you have lived your whole life this way, you have no concept of anything other than that "Dad will give it to me, or Dad will fix it".

Whilst having to pay $200K for something that Dad paid $600K for and is spending another $600K to build is "nice" I wouldn't accept it.... but that's just me.

It might sound like sour grapes, but I assure you it is not. One day my brother and I will inherit a substantial estate, but in the meantime, there is a lot of satisfaction from knowing we have done things on our own. I hope you never have to experience "real life" because I fear you would crumble rather quickly.
 
all my family give good presents, except my bf sister who came with 2 adults and she has 3 kids and gave 50 bucks !!!!!!!!!!!!!(even when us 2 went to her house which was BYO and gave her $150 for her 30th).

Here is another instance of you either being very spoilt, or extremely ungrateful. Maybe your boyfriend's sister is not as well off as you and $50 is all they can afford. Most reasonable people would be very happy with a gift of $50. Remember, it is the thought that counts.

Another question: Skater or Skater Junior, do you have to pay anything when you go on holidays with your parents/family? For example if you go to Europe, or even just a trip to QLD?
Would you have to pay for food or accomodation or flights? Where does this 'rent' stuff stop?

As for this silly question, as we are talking about "board" not "rent", and there most certainly is a huge difference. For instance, if we let a room out to someone else, they would have to pay 5 times what my child pays. Anyway, back to the question, it depends on the situation and on which of my children you are referring to. The eldest child, who has a full time job as well as 2 part-time jobs would certainly have to contribute. If flying, then she has to pay her own airfares, I pay for the accommodation, as I was going to do that whether or not she decides to come too. She pays for her own extravagant extra's (of which there are usually plenty). The youngest, as she does not earn a full-time income yet, definately does not have to pay anything. This changes as soon as she starts full time employment, and she is well aware of this fact.

Over their formative years I have spent the equivalent of around half of the average wage each year on their sporting activities and they have both represented Australia more than once. Even though working full time, I also contributed to the costs of the eldest having lessons, before she decided that life was too hard to put in hours of training on top of a full time job. Then she gets 2 part-time jobs, so now puts in even more hours, go figure. So, as you can see, they have not been hard done by at all.

You all keep saying things along the lines of, you will find it hard when you go into the real world, but atleast Ill be going out in the real world with a bit more $$ than most, because i didnt have to give it to my parents. They instead, let me keep my money that I earn.

Going out into the real world with more $$ than most is NOT a good thing. If you haven't struggled to save while paying for all your expenses, you don't put as much value on the money and it could very quickly be squandered on wants, rather than needs.

You will only go into the "real" world with more money than most because you have been handed it on a plate. My parents could have done that for us, but I would not have taken it. I wanted to build my own life, and not be some pampered princess with no feeling of having "done it myself".

Obviously, if you have lived your whole life this way, you have no concept of anything other than that "Dad will give it to me, or Dad will fix it".

Whilst having to pay $200K for something that Dad paid $600K for and is spending another $600K to build is "nice" I wouldn't accept it.... but that's just me.

It might sound like sour grapes, but I assure you it is not. One day my brother and I will inherit a substantial estate, but in the meantime, there is a lot of satisfaction from knowing we have done things on our own. I hope you never have to experience "real life" because I fear you would crumble rather quickly.



But you are missing the most important point here. We charge our kids board, and make them pay for their own expenses, not to get rich off of our own children, but to teach them responsibility and to prepare them for when they leave home.

As Wylie has said, there is a lot to be said for "doing it yourself". Just, as an exercise, lets play pretend. You have left home, and for some reason Daddy is not there to help you anymore. You have secured your first job, and you have been lucky enough to get a job where you earn $700 per week, after tax has been taken out. (I know, it's not much, but that is the reality of most people's lives) The Duplex fell through, so you have to rent, and the boyfriend isn't there to help out either.

Could you prepare a budget, and stick to it? Will you remember all of the bills that come in each month. Can you list what your expenses might be, and how much you have left over for discretionary spending?
 
You will only go into the "real" world with more money than most because you have been handed it on a plate. My parents could have done that for us, but I would not have taken it. I wanted to build my own life, and not be some pampered princess with no feeling of having "done it myself".

Obviously, if you have lived your whole life this way, you have no concept of anything other than that "Dad will give it to me, or Dad will fix it".

Whilst having to pay $200K for something that Dad paid $600K for and is spending another $600K to build is "nice" I wouldn't accept it.... but that's just me.

It might sound like sour grapes, but I assure you it is not. One day my brother and I will inherit a substantial estate, but in the meantime, there is a lot of satisfaction from knowing we have done things on our own. I hope you never have to experience "real life" because I fear you would crumble rather quickly.

Yeh i agree its a big present/gift, a house would have been better though. And yeh my sister will be annoyed lol, but she isnt going to contribute to the Duplex till she has a bf and is working f/t. My bf is contributing most of our part of the loan then when i finish uni I'll help. She understands though and isn't angry or upset. So my dad is paying her loan while she can't contribute, thats a bit slack from my point of view to me coz i have to start paying now! But she wont get the $500p/w rent as it will go on her mortgage.

And no i dont think its sour grapes or jealousy from anyone here! My sisters BF said dont accept the present as my parents will always have something 'over us'. But thats why she can only afford $50, and we will be much better off. Lucky my bf hasn't got that mentailty. And from now on we only give $40 to each of her 4 kids, instead of about $100.

We will have a big help and we will still have to work hard I'd imagine to buy investment properties. I hope not to only own a duplex in 10 years but fully own a duplex and 1 IP atleast. My dad has a massive estate to give us also, but thats not what I think about. My Grandfather is upset at my dad for saying he wont give us 1 IP when we pay off our Duplex. He thinks if me and my bf pay the duplex, when we do we should get a unit atleast. I think thats a good idea but let me wait to get smashed by you all lol.

Skater, its only a silly question because I DONT understand it so therefore I ask the question even if it may sound silly. You sound silly to me with what you say too in your responses (some of the responses not all).

First of all I dont leave home till i am married, im not allowed. Thats prob one diff, some people say to their kids to get out others say your not allowed! If the duplex fell through nothing would happen. I wont need this duplex till another 2 years atleast, i would never rent, my dad would let me go in one of his nicer houses RENT FREE with my husband...otherwise i stay at home if not married.

The shitty duplex isnt be all or end all. I could rent it out for the first year or 2 till I am married, but my bf is going to live there instead, by himself lol.

This is just a case of 2 different up-brinigngs and 2 different worlds. I agree someone that is handed $1 million could have less than the one handed nothing in 2 years time! Its all about the person and how they take advantage of a situation. unfortunately for anyone paying 'board' sorry not rent, to their own parents, it may be harder.

I study finance and will ultimately be telling people how to invest and save etc. I understand both sides of the story, but it seems you all only understand one side.
 
Was thinking the same thing.


Regards
Marty

All this is a compliment. Where do you all live? I know people of different socio-economic class may not beleive what i write. But I am grateful for my up bringing and sorry for your's only if you find it so hard to comprehend what i am writing.

Skater the whole family holiday paragraph that you wrote is probably the only thing that I can sorta see where your coming from. What if you had frequent flyers and could fly your family business class with only paying the taxes? Would you make your kids fly economy and pay?
 
Another question: to those of you who have been to a wedding recently (within 4 years) and know how much cash the bride/groom got? My cousin got 50k 2 years ago. I won't get as much coz my bf is not my background and they obviously (looking at his sister) dont give as much as my family. I'm born here and Aussie but my parents were born o/s.
 
An example of 2 different up bringings would be me and my bf. He is 6 yrs older than me and when we met 4 years ago he had 20k debt. He had to buy his own car, pay for his internet, and foxtel and pay for his mobile but didnt haveto pay board. When I went to his house and realised I nearly died and anyways 1 yr with me he had no debt, doesnt pay for foxtel coz I made him shut it off (so his mum pays for it now as she wants it still lol).
I think your've done well, if you can educate someone else about budgets and saving and get them to pay off some debt. Well done, congrads.

My dad is helping us build a duplex ( he bought property for 670k, building duplex for max 600k, but he is making us pay him 200k so he isnt just giving it to us).
Seems like a big gift, but different cultures, different families, different ideas, nothing wrong with that.

So for everyone that's knocking you, take their advice, process it, mull it over, decide if it's worth while to YOU, if not chuck it.

There's more than one way to get out of the rat race, as long as you enjoy the journey, smell the flowers along the way. Don't let other dictate your life.

Cheers
Graeme
 
I think your've done well, if you can educate someone else about budgets and saving and get them to pay off some debt. Well done, congrads.


Seems like a big gift, but different cultures, different families, different ideas, nothing wrong with that.

So for everyone that's knocking you, take their advice, process it, mull it over, decide if it's worth while to YOU, if not chuck it.

There's more than one way to get out of the rat race, as long as you enjoy the journey, smell the flowers along the way. Don't let other dictate your life.

Cheers
Graeme

Your 100% right. I agree and yes I have taken their advice and read it. And i agree with some aspects of what they are saying.
 
Sheesh! This is sounding more & more like one of the regulars trying to wind us up, eh, Sparky.


First of all I dont leave home till i am married, im not allowed. Thats prob one diff, some people say to their kids to get out others say your not allowed! If the duplex fell through nothing would happen. I wont need this duplex till another 2 years atleast, i would never rent, my dad would let me go in one of his nicer houses RENT FREE with my husband...otherwise i stay at home if not married.

The shitty duplex isnt be all or end all. I could rent it out for the first year or 2 till I am married, but my bf is going to live there instead, by himself lol.

I study finance and will ultimately be telling people how to invest and save etc. I understand both sides of the story, but it seems you all only understand one side.

OK, lets say Daddy gets sued, or done for insider trading, jailled or dies. He has lost all of his wealth. Don't get me wrong, I am not wishing you ill harm, but this is real life and these things DO happen. So, for whatever reason, you cannot live at home and have to fend for yourself in the above scenario that I gave you. Can you prove to us that you are capable of doing so?? Can you give us an example of a real life budget? Just as an exercise. After all, you say you are going to be telling people how to do it, lets just see if you really can.
 
Interesting thread. I came from a different background culture where parents will never charge their children for board too (unless they are struggling to pay the bills) and will pay for the children education and help them out with the first home (if they can afford to). That's the main motivation of working hard for Asian parents, to provide their kids with a good life and a good start, unfortunately to the point of spoiling them sometime. I have friends back there who are in their late 20s, still freeload at home with their folks shamelessly.

However, majority turn out ok once they are mature enough. Just look at the high saving rates in East Asia, they do know how to save money. Some people teach by setting examples, other teach by enforcing dicipline and giving tough love from young age, to each his/her own.

It depends on which one work better for the parents and children. I personally have gone through both. Up until I was 17 I was spending dad's money without contributing a thing. Then Asian financial crisis hit, and I suddenly had to pay for my own rent and living expenses (dad still paid for uni fees) by juggling part time jobs and uni just like many local kids, we do learn those budgeting skills when needed. Most of you who said Mandy (or other 'spoilt' kids) wouldn't know how to survive are underestimating human natural ability to adapt.

As soon as I got out of uni and got my first full time job at 19 I returned all my savings prior to that point to my mom and started from 0. Most of them were savings from gifts and pocket money from family anyway, not my own savings. Dad did give us another gift (a big 20% deposit) of our first home purchase (tiny 2br in western suburb) when I was 23 for which I was grateful. But we always plan our finance and live with intention to do well without another single cent of gift from him and we'll be there should he needs our help in return.

I also notice that this is also reflected by how the children treat the parents in their old age later in life. When I first moved to western country (NZ) at 14 and lived with a local host family, I found it odd that my host family was charging their aged parents petrol money for using their car. The mentality seems to be if you expected to me to be financially independence and pay for my own at such a young age then I expect you to do the same when you are old. That's just one anectodal example and I don't want to stereotype, but I think many of you will agree that a lot of the ethnic families tend to put more efforts in looking after their elderly parents. Perhaps it's because we feel more indebted to them.

I'll also like to add that I have noticed some wealthy and controlling parents like to keep their children financial dependent on them so they have control over their children life. Now that's a different discussion altogether.
 
As soon as I got out of uni and got my first full time job at 19 I returned all my savings prior to that point to my mom and started from 0.

I feel quite sure that Mandy will do the same :rolleyes:.

Most of them were savings from gifts and pocket money from family anyway, not my own savings. Dad did give us another gift (a big 20% deposit) of our first home purchase (tiny 2br in western suburb) when I was 23 for which I was grateful. But we always plan our finance and live with intention to do well without another single cent of gift from him and we'll be there should he needs our help in return.

Likewise. We have always had the knowledge that should things turn sour, my parents are a backup. This is a nice feeling, but not one we ever wanted to have to utilise.

I'll also like to add that I have noticed some wealthy and controlling parents like to keep their children financial dependent on them so they have control over their children life. Now that's a different discussion altogether.

I would also say this is Mandy, going on her comment about her dad not allowing her to leave home until she is married. Not something I would be comfortable with, but to each their own.
 
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