After graduation, rent if lives at home?

[Anonymous]

I would charge monthly payment amount for the student loan and parent loan, and pay that.

[Anonymous]

Anonymous wrote:I would charge monthly payment amount for the student loan and parent loan, and pay that.

Who is dumb enough to take out parent loans?

[Anonymous]

Sounds like a great kid. Graduating from college & has a good job lined up. Unless there’s something I’m missing, I don’t see why you’d charge rent.

[Anonymous]

Anonymous wrote:I would charge monthly payment amount for the student loan and parent loan, and pay that.

oh I'm Asian.

But also I should be able to leave them some inheritance later.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I would charge monthly payment amount for the student loan and parent loan, and pay that.

Who is dumb enough to take out parent loans?

everyone has different financial situations.

For me, it is wise to take out parent loans, and keep my cash invested.

Parent loan has been interest free for the past 2 years, so if you didn't and paid any kinds of interest, you lost money

[Anonymous]

If I let them pay rent, they'll think they can do whatever they want in MY home. HELL NO, not while you live under my roof...

If my kid has a decent job lined up, I'd make them pay their students loans instead!

[Anonymous]

Anonymous wrote:If I let them pay rent, they'll think they can do whatever they want in MY home. HELL NO, not while you live under my roof...

If my kid has a decent job lined up, I'd make them pay their students loans instead!

Not if you raised your kids properly. Sounds like your family has some unique issues.

[Anonymous]

Anonymous wrote:I can’t imagine not charging rent (my kid has a decent job l8ned up) but my husband doesn’t want our kid to rush into an apartment lease. So I don’t know.

DC moved in after they graduated and we set up a pretend budget as if they were going to be living in an apartment and estimated their living and eating costs. (I pumped it up a bit) We said they needed to set up an investment account at Fidelity or wherever they wanted and they needed to deposit the estimated amount into that each month. Then, we said they needed to put in the max to their company sponsored 501k plan (15%)

That way, they would not get used to too much extra spending money.

They did their own laundry and were required to cook one dinner a week for everyone.

They ended up living at home for 2 1/2 years before they moved out and had a very nice nest egg in the Fidelity account.

[Anonymous]

Anonymous wrote:If I let them pay rent, they'll think they can do whatever they want in MY home. HELL NO, not while you live under my roof...

If my kid has a decent job lined up, I'd make them pay their students loans instead!

Why do you people purposely handicap your kids

[Anonymous]

Anonymous wrote:If I let them pay rent, they'll think they can do whatever they want in MY home. HELL NO, not while you live under my roof...

If my kid has a decent job lined up, I'd make them pay their students loans instead!

Wow. Sounds like you raised spoiled brats. I did not. That’s entirely on you.

[Anonymous]

I wouldn’t charge rent but I know people who did and then gave it all back to the kid to put down on a home purchase or grad school. That seems reasonable. My kids would not be planning to stay forever though so I guess if I felt they were freeloading and bad guests, I’d charge them to motivate them to get out.

[Anonymous]

I graduated from college later in May - and basically wanted to be in my college town through the end of May - with my new job lined up in DC starting the first week day in June. I really did want to get an apt. in DC, but I didn't want to have to leave my last few college weekends left to go apartment hunting when my parents lived in NOVA.

So I lived at home for the first two months after college while apt. hunting in DC and moved out by August. I guess this is different because my parents knew I really was moving out but they were basically ecstatic to have me home. Not only did they not charge me rent, they cooked me dinner every night too LOL.

I really can't imagine charging my kids rent unless it became some kind of failure to launch type situation and I thought they should have more motivation to get a full time job.

[Anonymous]

For me it would be whether I need the money or not. I would not frame it as charging rent (I will need the money as I am a single mom and low income and child support will stop even before graduation). I will sincerely ask my kid to help me out a bit, as otherwise we both struggle.
If I didn’t need the money I would never charge him, like I don’t make him buy his food or clothes now. I buy what I can afford and if something is hard I tell him how much I can contribute (for a laptop for example).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:White American parenting is mesmerizing.

Ikr

So weird with their dog smells, charging kids rent, mayonnaise

Don't forget the doggy french kissing.. Anyways, back to OP's question. Paradoxically, if the kid is doing well financially (college done, good job, etc.) I won't charge rent but make them save the equivalent of rent for the future. If the kid is not doing well (college drop out, works at a grocery store, etc.), I'll charge rent and save it on their behalf for a rainy day to teach them fiscal discipline.

+1

Definitely, if they don't have a plan (be it college or otherwise) and are not working hard to get a plan, then I'd charge rent they could "afford" on their wages (like 35-40% up to the cost of a typical 1 bedroom in our area), so they can see what it will take to actually live as an adult. However, I would save that rent and give it to them when they move out.

I don’t know any young 20 somethings who live in a 1 BR alone. They’d have to be pretty high earning to justify that.

[Anonymous]

No, teach them how to save - open up a roth ira and help them save/invest so they have it when they move out.