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mkats
06-23-2010, 11:12 PM
I graduated from college in May and moved back home while continuing the job hunt - fortunately, I found one and am due to start working in a few weeks. I'd always assumed that I would start paying rent whenever I found a job and now that that's finally happened, thank goodness (can't say that enough!!), I plan on holding up to that, since I'll be continuing to live at home for now.

My question is - how much seems reasonable? I think it'll be up to me to bring up a number, but I don't want it to be too much or too little. None of the other college grads I know that moved home are paying rent at all, so I haven't been able to compare with them.

Would appreciate hearing how others handled this situation. TIA :)

Allen
06-23-2010, 11:17 PM
I graduated from college in May and moved back home while continuing the job hunt - fortunately, I found one and am due to start working in a few weeks. I'd always assumed that I would start paying rent whenever I found a job and now that that's finally happened, thank goodness (can't say that enough!!), I plan on holding up to that, since I'll be continuing to live at home for now.

My question is - how much seems reasonable? I think it'll be up to me to bring up a number, but I don't want it to be too much or too little. None of the other college grads I know that moved home are paying rent at all, so I haven't been able to compare with them.

Would appreciate hearing how others handled this situation. TIA :)

My parents refused to let me pay rent during the six months I lived with them, so I started grabbing the utility bills when they came and would pay them. I think that was about 250 dollars or so. I also would bring home essentials like toilet paper, paper towels, etc. My parents would keep hiding money in different parts of my house when I moved out, so I think they probably ended up paying me back.

Allskate
06-23-2010, 11:17 PM
Congrats on the job and kudos to you for paying rent.

Maybe you can check something like craigslist to see what the going rate is for renting a room in your area?

Aussie Willy
06-23-2010, 11:57 PM
Congrats on the job. Well done.

I would say it is up to your parents to decide. They probably wouldn't charge you market rates because you are their child. And depending on their financial situation they may not be fussed if you did or not.

However if your parents said not to worry about it, buy food and pay your share of bills.

But another thing if I was living with my parents and didn't have to pay a lot in the way of rent and bills is to take advantage of the saving opportunity. I have known quite a few people who live with their parents who just go out and spend whatever money they have. At your age it is worth thinking about the future and start putting any extra money aside towards a future house or something that will give you financial security in long run.

numbers123
06-24-2010, 12:06 AM
I would consider 10% of my income a good starting point. So let's say that your monthly income is $1,000.00 post taxes. $100 seems reasonable to start with. I would also consider fixing at least one meal a week with food that you purchase. All receipes.com can give you some ideas and you can develop a shopping list based upon the ingredients. If you share internet and cable, ask to pay a portion of that too.

Learning how to pay rent that comes out first, then menu planning/food shopping is a great way to begin your adult world. If you are paying for what some people consider a luxury like cable, you begin to understand need vs. want.

If your parents don't want to take rent, still give it to them (tell them that they can put it in a savings account if they wish).

StonewshMullet
06-24-2010, 12:16 AM
If they don't want the money then save it and eventually buy a place.

Kasey
06-24-2010, 12:22 AM
My parents had each of us find a job when we were 16, and start paying "rent". (Of course, they weren't going to kick us out, but it was part of learning adult financial responsibility, etc). Each of us had to pay 10% of our take home salary to them, as well as start buying all our school supplies, most school clothes, and paying for whatever other teenage things we wanted at the time. The cool thing is, our parents put our "rent" into a savings account for each of us that we got when we graduated high school, so we learned the beauty of saving as well :)

Prancer
06-24-2010, 12:29 AM
My parents had each of us find a job when we were 16, and start paying "rent". (Of course, they weren't going to kick us out, but it was part of learning adult financial responsibility, etc). Each of us had to pay 10% of our take home salary to them, as well as start buying all our school supplies, most school clothes, and paying for whatever other teenage things we wanted at the time. The cool thing is, our parents put our "rent" into a savings account for each of us that we got when we graduated high school, so we learned the beauty of saving as well :)

My parents did the same thing, except I got the money when I moved out--and I had no idea I was getting it, so it was a fantastic surprise.

uyeahu
06-24-2010, 12:29 AM
I'm glad none of you freeloaders are my child. ;) 10%??!! I'd say at least 25-35%.

I charge my son $400 a month which is much less than he'd have to pay to live comparably elsewhere. That $400 covers room, board, utilities, and his cell phone. Think about what it would cost you to live comparably on your own or with a roommate, not just rent but also the perks of living with the 'rents. (Does Mom cook your meals and do your laundry? Do they provide you with cable tv and internet access? Are you on their car insurance/cell phone plans?) Then deduct a significant amount for the lack of privacy and having to deal with your parents rules and if the amount hurts just a little bit but not enough to make you want to move out, it's probably the right and fair amount.

If your parents don't want to take rent from you then put that amount in a savings account and save it for a future down payment on a home of your own or a nice vacation for yourself and your parents - YOUR TREAT.

Kasey
06-24-2010, 12:32 AM
My parents did the same thing, except I got the money when I moved out--and I had no idea I was getting it, so it was a fantastic surprise.

Yeah, I didn't know it either, although I am sure my younger sister and brother had it figured out when it was their turns! :)

Aceon6
06-24-2010, 12:33 AM
Financial pros recommend that people spend no more than 25% of their gross salary on housing. Since your housing probably includes food and other perks, why not offer 25% and let them talk you down?

Everyone's financial situation is different, but most of my 50 something friends are fresh out of dough. After paying for their kids college (incidentals all the way up to full tuition, room and board) and trying to put money in their 401Ks, many aren't as financially healthy as they would like others to believe.

Allskate
06-24-2010, 12:51 AM
Regardless of whether your parents need the money or would take it, I think it's a great idea to offer. When my friend's father had a stroke and became disabled, she rented a larger house and took in her parents and younger sister. She planned to move into a smaller house once her sister graduated and moved out. Well, the sister has graduated, isn't even looking hard for a job, and gets all of her incidental expenses paid for by my friend, who is not happy about it. (She's not willing to kick the sister out, though, and just renewed the lease.) They aren't desperate for the money, but it is going to delay their ability to buy their own home and it's important to them that they be able to buy a home in a good school district before their toddler is old enough for school. It's really interfering with the sister's relationship, and I think if the younger sister just offered to help out a little bit financially it would improve the whole family dynamic a lot. It's more about the sentiment than the actual money.

JasperBoy
06-24-2010, 01:14 AM
Just wanting to pay rent is a big point in your favor, IMHO. So many family members (and not just kids) never consider the possibility that their presence involves extra work or expenses.

I agree that it is definitely a good idea to show yourself as an adult member of the family. To me, that means doing a fair share of the domestic duties, even the unpleasant ones. Paying rent, utilities, etc. is good discipline for when you live on your own.

Your parents are more likely to set up adult rules and expectations for you if you show that you are willing to take on adult responsibilities.

Good luck with your new career. Your parents did a great job raising you!

Wyliefan
06-24-2010, 01:44 AM
I'm paying my parents about $300 or so less per month than I might pay for an apartment around here. (That's still a fairly hefty sum -- this is a pricey area, which is a large part of the reason that I'm still living with them!) I also help out with grocery bills, buy everybody takeout once in a while, and so forth.

Gazpacho
06-24-2010, 02:07 AM
Since you don't have a job, paying rent would be an unnecessary strain--where would you get the money? And that's the reason you're living there to begin with, right? If I were your parents, and I say this as a non-parent, I would feel guilty about it.

How about earning your rent by performing extra errands and chores? Maybe you could agree on a set of weekly chores and tasks, plus an additional X hours for miscellaneous tasks that come up, and that would constitute your rent.