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What rent should I charge my student son?
My son is going into third year in college and has a sixth month internship for which he will be paid. I haven’t asked him to contribute to bills up to now, but feel I should start doing so now to ease him on his way and also to ease my bills!
I wonder what other people’s experience is? I see this week students can expect to pay at least €500 a month in rent in Dublin. However I feel this is too much. We don’t know how much he will be paid but I doubt it will be more than the minimum wage.
Fiona, Dublin 6
Send your questions to money@rte.ie
5 Responses to What rent should I charge my student son?
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Gerry says:
I am 26 and living with my parents in Dublin. I am on minimum wage and take home about €1100 a month. They charge me €75 a week. They don't ask but I also buy and cook food probably once a week for them and do buy toiletroll etc for my own bathroom.
I don't know if that helps,, but I couldn't afford to find a place and feed cloth and go out.
Gerry -
rteproduction says:
Dear Fiona,
I guess the sensible thing is to work out what the bare minimum cost to you is – not just heating and electricity but also food and the essentials that boys, and indeed girls, at that age rarely think about such as washing up powder/liquid/tablets plus condiments, toiletries, household cleaning products and laundry.
But sit down and do it with him. It will be a good exercise for him in terms of understanding household budgeting and will stand him in good stead in the future.
You should also include the cost of health insurance if you are covering him for this.
Then, once you know how much he is earning, charge him appropriately. There's no point in sending him into more debt because you are the one who may well end up picking up the tab.
I should think anything from €50 a week would be appropriate. As you say he would have to pay €500 a week in Dublin in a flat share.
Lisa
RTE Money -
Joe O'Neill says:
Lisa/Fiona
Don't forget to add the cost of broadband and TV.
I had to move back in with my mum for a year after losing my job at the age of 35, but you are doing your son no favours by making it easy for him to stay. Part of growing up is learning you have to pay your own way and usually getting into debt becomes part of that.
Johnny -
cushty says:
When I was 22 I moved 200 miles from my parents after getting a job. I started paying £300 per month (bill included in cost) plus roughly £80 a month in food. On top of that I did all my own laundry, all my cooking and cleaning.. I was an independant adult. I was on take home of £1120, so that meant my outgoing costs were about 35% of my salary
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You should charge him for heating and food at the very least.