At €1,000 a month he could rent a room anywhere he likes and not have to live with his parents!Personally, I would ask him for €1,000 a month
At those rates, you'll have half of the members of AskAboutMoney looking to move in with you!I think it depends on what you mean by "living at home, if their expecting to treat the home like an all inclusive hotel and still have everything done for them like cooking, cleaning and washing then somewhere in and around 20% of their net take home
If they are looking after themselves and pulling their weight around the house and buying and cooking their own food I think somewhere around 10% of net pay would suffice in my humble opinion
Haha, the commute might be a bit long at the momentAt those rates, you'll have half of the members of AskAboutMoney looking to move in with you!
As an aside, you should advise your son to start funding his pension to the max, i.e. 15% of €71,000 per year (I’m assuming he’s not Van Wilder). The impact of starting so young should be huge.
Does the salary for offspring #1 include shift allowances/bonuses? If he is working shift hours, then a car will be essential. So that's an additional living cost.
Ask each of them what they think is fair to contribute.
Agree totally @Clamball It'd be nice to have a bit of extra cash to do what you've called out above.I would be inclined to the 35% of take home pay. While it is wonderful for adult children to live at home with very little responsibility in terms of food, cleaning, washing, utilities etc., there is a significant impact on the household.
I would use the money to:
Do household improvements, all that wear and tear from the 20 odd years of kids, breakages, making do, buying low quality because that was all you could afford.
Improve the quality of food in the groceries.
Get the more luxurious shampoos, soaps etc.
Leave the heating on for longer than normal.
All those jobs you have been putting off for years because you were shelling out money for extras and education for the kids.
Spending this way improves the lives of all in the household. If you still have a mortgage pay it off faster.
And it focused the mind of the adult kid - do they want to continue to live at home or move out to spend their money as they wish. My adult kids are either still in education or living out of home so this is all theoretical on my side. I might think differently when it actually happens. But I did have a friend who paid 50 % of take home pay to live at home.
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