How much lodge should i pay

How much you should expect your children to stump up is of course a knotty issue, especially if they're living with you because they're saving for their first home. But the consensus is that rent-free living isn't helpful for them or you. Many parents see charging rent as a way to help their children learn how to budget. When asked why parents are charging their kids to live with them, the fact that they're in full or part-time employment was the number one reason. This was followed by the expectation that they are now an adult, and therefore should be putting their hand in their pocket for bills and rent.

Teaching their kids how to manage money also scored highly, as paying a contribution will help them avoid a price shock when they do eventually move out for good. Do you want to comment on this article? Certified financial planner Tony Sandercock says the best ways to teach your children positive financial habits are to:.

Give them responsibility. Challenge them to find a better internet deal, and give them some incentive to do it, such as a percentage of what they can save. You can do the same with mobile phone and energy suppliers.

These are real life lessons that will stick. Explain how a loan works. Going through your loan statements with your kids is another brilliant opportunity for financial education. Encourage them to find a job and help them do it. Kids need to understand that money doesn't grow on trees. It teaches them responsibility, teamwork and even how to read an employment contract or understand how superannuation works.

Demonstrate that pocket money is not an allowance. Pay them for the work they do around the house. This helps them understand that money is earned and not given away, and of course, that means that if jobs don't get done, there's a consequence - no money!

Keep track. If your kids don't measure what money is going where, they don't have control over their situation. Make it fun! There are some excellent apps that help track spending and saving, such as one you can download for free from the government's Moneysmart website. Set a savings goal. Show how putting aside small amounts regularly will grow into something worthwhile. Help them understand opportunity cost. That's just another way of saying, 'If you want this video game, you won't have the money to buy that new dress'.

Your kids should be able to weigh up the pros and cons of financial decisions and realise that each decision has a consequence.

Give them responsibility of their own bank account. This takes money management to the next level and it will prepare them for managing a healthy account balance when they get older.

Explain the dangers of credit cards. Benefits and entitlements Hmrc - scary letter should you continue claiming as a single person. Can't find your answer? In answer to Cat. He can easily save. When I lived with my parents long time ago seeing as I'm now 36! She did nothing else for me NOT complaining at that though That was 20yrs ago though. Benefits and entitlements How much equity from the marital home should I expect?

Benefits and entitlements Housing association or private rent Benefits and entitlements Why should my husband constantly give his sister money? When we don't need it to pay the extra cost of them being at home, we have saved it on their behalf. It meant we could pay the deposit for middle child when he moved out.