[Phil Yule]

Hey there,

I wondered if I may be able to get some advice please?

We are in a bit of bother financially with no increase in income but huge increases in outgoings.

We earn enough to cover about 85% of our outgoings with no disposable income or savings.

We have a 22, 21 & 19 year old living at home. None of them save any money instead blow all of their incomes on extravagant clothes/holidays/socialising etc. the lowest earner has an income of £1500 per month, the second earns £1800 per month and the highest earns about £2200 per month.
They currently contribute £130 per month each.
If any of them were saving for a deposit for mortgage I wouldn’t even consider asking for more but they don’t in fact they simply blow all of there 90% disposable income.

My wife says she won’t take any more money from them because she doesn’t know any of our friends who would but I feel that we are a sinking ship financially while three members of our family have become part of the reason.
I feel that we made huge mistakes allowing them to be the way they have become.

Our eldest son jokes that if we charged more he would just leave to which I replied ‘good’ it’s time to be a grown up but actually he has no intention of doing so, his mum is desperate to keep all of her babies here as a family which I also have no issue with because we are actually very close.

But I feel that they need to learn the value of money and it’s not unreasonable to either make them pay no more than what they cost but what they do actually cost.
Or they move out through spite and realise the cost of living would likely consume more than 50% of their incomes and they would have to cook & clean too!

I have calculated that 6 people in our household cost £1200 per month for food alone. At £200 per head I’m already £70 short of each adult’child’ not to mention all of the other costs involved.

What would you guys suggest would be a reasonable sum to request they contribute?

I saw a Moneysupermarket calculation that suggested £680 per month but that’s just crazy and I don’t want to profit from my children!

I’m trying to understand the balance of keeping our head above water with rising inflation and teaching them that life can’t stay free and easy!

Many thanks for taking the time to read this.

[Tony Kingaby]

When I started working I earned £2.10s a week (yup … long time ago)! I paid £1.10s a week I board plus travel, clothing loan etc left about 2s a week for me.
I DONT suggest that this is right BUT realistically, charge them a fair rent (if its m9re than you need then dump the extra into a savings account out for them in the future).
Don’t be a sucker

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