How much Board do your kids pay?
- Thread starter sparky23
- Start date
I have been back home with my olds for 2 months. I am offically unemloyed but had a first qtr income of $15k tax free.... I gave my parents a lump sum of $1k for 8 weeks which they didn't ask for since I don't have a job due to health issues... I figured $125/wk was cheap living! I will do it again at the end of the next qtr and prolly give them $1500... planning to move out ASAP once I get all my **** together anyway.
I had the good fortune of parents who shared most what was going on with the kids. We were involved in most of what was going on.
When interest rates were at >20% (peaked at 24%) we were clearly shown why things that we wanted could no be bought. Why there was no expendable income. What little we made was actually mostly spent on household expenses, not going out with friends.
It was all freely discussed at the dinner table.
At age 14 my dad asked me "What do you think we should do with this IP? Should we keep it it? sell it? sell it and buy something else? Why?"
I cant remember what age I started doing the budgets & P/Ls.
Everyone was there to contribute.
Both my parents lived through WWII, they had to do the same.
Everybody had to contribute. There were no slackers, they all more or less chipped in. There was no choice.
I started work at 13 and all of my pay went to my parents, who gave me back a weekly allowance. They would take my money and put it into their mortgage offset account to save interest, and when I wanted a big-ticket purchase, they gave me the cash (if I had saved it).
Once I turned 16 I had saved over $10k in their offset and I made the stupid decision to buy a fast car. I then moved out at 16 to go to Uni, over 2hrs from home. Throughout uni I only averaged about $200/wk of which $120 was rent. Needless to say after graduation I had a consumer debt of $14k at age 20.
Fast forward to age 22 and I've just bought my first home. I think the lessons I learnt from saving from a young age and buying a stupid car
have set me up to never waste money again! I really can't thank my parents enough.
Once I turned 16 I had saved over $10k in their offset and I made the stupid decision to buy a fast car. I then moved out at 16 to go to Uni, over 2hrs from home. Throughout uni I only averaged about $200/wk of which $120 was rent. Needless to say after graduation I had a consumer debt of $14k at age 20.
Fast forward to age 22 and I've just bought my first home. I think the lessons I learnt from saving from a young age and buying a stupid car
have set me up to never waste money again! I really can't thank my parents enough. My boys pay $80/week but $20 of that goes towards the reg. and ins. for their car. I can't make 18 year olds save but I do encourage them to let me make a transfer from their accounts each week to their savings. I feel I have given them good guidance on money management but they are not too interested at the moment.
They are talking of moving out at the moment because they want more 'freedom'. I've given them the talk about how the more freedom you have the more responsibility you need to exercise. We conducted an experiment where they could do exactly what they wanted within the boundary of good conduct and consideration for others. One son stayed up two nights in a row until 2:30a.m. playing World of Warcraft. That was enough for me to end the experiment as I couldn't see he was taking responsibility for his health, work or study. So maybe they will now move out.
Anyone else have these issues?
They are talking of moving out at the moment because they want more 'freedom'. I've given them the talk about how the more freedom you have the more responsibility you need to exercise. We conducted an experiment where they could do exactly what they wanted within the boundary of good conduct and consideration for others. One son stayed up two nights in a row until 2:30a.m. playing World of Warcraft. That was enough for me to end the experiment as I couldn't see he was taking responsibility for his health, work or study. So maybe they will now move out.
Anyone else have these issues?
I pay $800/month board.
Moving out would probably cost me more.
Moving out would probably cost me more.
Well done and kudos to you! As soon as my kids get a job they will be contributing money to the house hold depending on their income.
I had to work day and night when I was 18 to put myself through college. While completing my HSC I paid board to friends parents I was living with. $60/week. Half my pay from a part time job.
My children contribute to the keeping of our household by emptying the dishwasher, taking out the garbage etc.
When they get a part time job they will be contributing monetarily. They will learn how to manage their money and the value of food and clothing.
I totally agree with Piston, and the biggest problem with Gen Y's and the next generation is the lack of financial education resulting from indulgent parents.
I have a strong stance on this one.
Off to BBQ with my over-indulged neices and nephews! But I love them!
Regards JO
We just sat down with our three girls and went through all of the comments on this thread. It was eye opening for them all.
Based on the comments, we all agreed that they should start contributing money to the household rates and bills. I mean, the modern primary school kids of today....complete free-loaders the lot of 'em.
Very impressed with your general attitude Boatboy / Bayview and santaslayer.
Based on the comments, we all agreed that they should start contributing money to the household rates and bills. I mean, the modern primary school kids of today....complete free-loaders the lot of 'em.
Very impressed with your general attitude Boatboy / Bayview and santaslayer.
Problem is if you don't create a bond, or a team atmosphere, when your old you'll be the one to be discarded in the same way.
I will never forget when during a short hospital stay a nurse said to me, on the last day, it was great to see that we all came every day before and after work to be there.
When I asked what's so strange, came the shocking reply.
"So many older people not only dont receive visits from their family, but they have to call the family multiple times to get them picked up as they argue between each other as nobody wants to do it." What a sad state of affairs.
thnx Josco, but i'm not sure i had much choice lol
And thinking back now, I cannot remember my parents paying for any appliance or furniture in the house for 20 yrs 1989 (except a whipper snipper).
They keep getting new stuff (including Foxtel) wether they liked it or not lol.
I guess once we realise how much we got, we gave some back. But that's team work.
3-4 people working together will generally achieve more in total more than 3 separate. Which is why you'll notice the avg wealth of each immigrant family member tends to be higher than the locals. They tend to stick a little closer and live with extended families more.
Nothing's perfect, we still all argue, dont get along, call each other names etc etc, but I'd be worried if we did'nt now.
Build the bond of teamwork and include them I say. Dont turn the household into a hotel were people pay for board & lodgings. Everyone needs to contribute to the sum total. Get them all involved asap. It's all a game.
I have relatives who's kids dont get anything unless they do chores, and when their friends turn up, the quicker they're finished, the earlier they get to go out. And since they're always in a hurry, they help out. Very funny to watch. I bet they don't raise a finger at home though.
I will never forget when during a short hospital stay a nurse said to me, on the last day, it was great to see that we all came every day before and after work to be there.
When I asked what's so strange, came the shocking reply.
"So many older people not only dont receive visits from their family, but they have to call the family multiple times to get them picked up as they argue between each other as nobody wants to do it."
What a sad state of affairs.thnx Josco, but i'm not sure i had much choice lol
And thinking back now, I cannot remember my parents paying for any appliance or furniture in the house for 20 yrs 1989 (except a whipper snipper).
They keep getting new stuff (including Foxtel) wether they liked it or not lol.
I guess once we realise how much we got, we gave some back. But that's team work.
3-4 people working together will generally achieve more in total more than 3 separate. Which is why you'll notice the avg wealth of each immigrant family member tends to be higher than the locals. They tend to stick a little closer and live with extended families more.
Nothing's perfect, we still all argue, dont get along, call each other names etc etc, but I'd be worried if we did'nt now.
Build the bond of teamwork and include them I say. Dont turn the household into a hotel were people pay for board & lodgings. Everyone needs to contribute to the sum total. Get them all involved asap. It's all a game.
I have relatives who's kids dont get anything unless they do chores, and when their friends turn up, the quicker they're finished, the earlier they get to go out. And since they're always in a hurry, they help out. Very funny to watch. I bet they don't raise a finger at home though.
I never paid board and I would never ask my children to pay board. I find the whole notion quite strange to be honest,
PB,
You can approach the issue of board/paying your way in the way you describe and the end result could be different in many families just as two people doing things another way could end up very different as well.
Most ethnic families that do the teamwork thing are doing it because they are trying to establish themselves and are in a type of survival mode.
Take away that scenario and they would probably do things another way. I think there are many examples of that.
Some of the Europeans did what you discribe both here and in there own countries and yet in better times they do things quite differently. Different circumstances different actions.
Choosing to approach things in another way doesn't mean families are less likely to be close or care for their elderly parents. The nurse that made that statement wouldn't know the reasons why those families don't come in (it could have been some of those parents were abusive.. who knows).
Most here aren't struggling and don't need things bought for them or their bills paid rather they are looking at ways of teaching their children to take some responsibility.
You can approach the issue of board/paying your way in the way you describe and the end result could be different in many families just as two people doing things another way could end up very different as well.
Most ethnic families that do the teamwork thing are doing it because they are trying to establish themselves and are in a type of survival mode.
Take away that scenario and they would probably do things another way. I think there are many examples of that.
Some of the Europeans did what you discribe both here and in there own countries and yet in better times they do things quite differently. Different circumstances different actions.
Choosing to approach things in another way doesn't mean families are less likely to be close or care for their elderly parents. The nurse that made that statement wouldn't know the reasons why those families don't come in (it could have been some of those parents were abusive.. who knows).
Most here aren't struggling and don't need things bought for them or their bills paid rather they are looking at ways of teaching their children to take some responsibility.
Sadly I think that is where I am going wrong, I actually don't want my kids to leave home ever. Strewth doesn't bear thinking about just me and the old man all alone day in day out!
my parents sent me to Australia on my own when i was 17, i must say it was an invaluable experience. Without it I wouldn't be where I am now.
PB: nobody talks about discarding your kids. You should still be there for them when they need it, but they should learn independent life. After all, instead of paying board they can get together with couple of their friends and rent something. Plus they can get an allowance from centerlink. Heaps of students live like that.
PB: nobody talks about discarding your kids. You should still be there for them when they need it, but they should learn independent life. After all, instead of paying board they can get together with couple of their friends and rent something. Plus they can get an allowance from centerlink. Heaps of students live like that.
Bags not being the Landlord owning that "something".
Who wants to volunteer their investment ??
For some strange reason my parents charged me $30/week board from the time I was 18 to 20. By the time I was 20 I had saved $14,000 of my own money. I had the choice between purchasing a brand new car or deposit on a property. I chose the property. Great decision - maybe it helped that I had to pay board. Both of my older sisters were never charged board. My parents are still helping them out financially. In fact my 39 year old sister has just moved back out of my parents house - rent free. I'm planning on charging my kids board and giving most back to them when they are married or 21.
Of course he was going to do that... same as any other lesson in life. They will push those boundaries until they work out it's not in their own best interests. So what happens now, he moves out and stays up till 2.30am anyway,but now with the added impost of bills etc.???
I think a lot of children are still at home for that very reason sparky. Now I am not saying this is your situation but I think many women are in marriages that are stale and boring and are frightened that when the children leave home they will realise that they are with an overweight, boring sluggard and have been for the last 10 years.
Scared of moving on they cling to the hope that by the children staying they won't have to confront this reality. If children are the only thing holding your relationship together then that is a horrible thought. Being with someone who doesn't grow, lacks interests, sits around drinking beer and getting larger and larger, watching television instead of experiencing life, complaining about their job but not doing anything to change it, remininscing about the good old days when they should realise that this is what they are "old" days and new ones have come. What a frightening thought.
Scared of moving on they cling to the hope that by the children staying they won't have to confront this reality. If children are the only thing holding your relationship together then that is a horrible thought. Being with someone who doesn't grow, lacks interests, sits around drinking beer and getting larger and larger, watching television instead of experiencing life, complaining about their job but not doing anything to change it, remininscing about the good old days when they should realise that this is what they are "old" days and new ones have come. What a frightening thought.
