Reply to After graduation, rent if lives at home?

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[quote=Anonymous]I'm sure this has been mentioned, but our policy is that once you're working, if you live with us you have to deposit money equivalent to "market rent" into a savings account for a future down payment or rental of your own. We are fine with kids in the house, but not as a crutch. We are big on saving/investing from a young age and this is not viewed as burdensome by our kids -- they also had to deposit a percent of their allowances into savings and investment accounts since they were six, so this is normal to them.

I guess if the child was not working or if we had a financial need to downsize or to use that room for something else, we might charge rent or come up with another solution. But if the home is big enough for the kids to stay, and everyone is okay with them staying, we don't insist on rent but we don't view it as a "free housing" situation either. We would not allow it if our child was just spending their savings on clothes, travel, and beer. We view living with parents as an opportunity to build savings and wealth and to maintain close family ties. So far our kids view it the same way.[/quote]

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