What’s the first thing that comes to your mind when you think about students? Recalling your own years of higher education, one thing may stand out. Let me guess… No, not that thing! I’m guessing it’s the fact that you were always strapped for cash.
Oh yes, what kind of student hasn’t responded with “sorry, I’m broke” to suggestions of going out time and again?
Managing your finances is a difficult task when you’re trying to balance everything during your student years. Thus, some parents try to instill a sense of responsibility into their children by taking rent from them, but not everyone can see eye to eye about this tactic.
More info: Mumsnet
Whether a university student should pay rent to their parents is a popular question, but a polarizing one
Image credits: Binyamin Mellish (not the actual photo)
A mom took it to Mumsnet to ask whether she should take rent from her student daughter while she goes on holiday
Image credits: Claire2437
Image credits: Andrew Neel (not the actual photo)
She takes about $130 per month, but seeing as she'd be living with her boyfriend for a month, the parents were torn
Image credits: Claire2437
This sparked a heated debate, with some readers saying that you should always take rent, others - never
A mom by the nickname of Claire2437 asked a seemingly simple question on the face of it. About 5 days ago, she asked “should my kid still pay rent if they are on holiday?” on the London-based forum Mumsnet, meant for parents discussing issues related to parenting their kids and teens.
She gives some details about it - apparently her daughter is a university student with a part-time job to boot, getting student loan payouts too. It also seems as if her wage is quite unstable, the poster mentioning that it changes “so much”, whatever that means exactly.
Meanwhile, the parents are charging 100 pounds (approx. $130) in rent, as the daughter lives with her parents. The daughter has plans to take a month away from home, vacationing with her boyfriend and the parents are conflicted whether they should charge rent for this month.
From what I gather, the poster’s husband is adamant about charging the rent, as it is a “real life” lesson that rent never stops, no matter if you’re taking a holiday or not, while the mother mentions that it’s kind of unfair.
This prompted a 6-page discussion about the issue, with a very wide array of positions. Funnily enough, in the latter pages the debate devolves into a large-scale argument about class, complete with digital finger-pointing and shouting. Oh forums, how I love thee, never change.
Circling back to the issue at hand, there was a vocal camp of supporters. The people in this group said that they certainly would or do charge rent from their co-habiting children, for many different reasons. Some say that they do it because it helps with the finances, especially as the students would be spending far more money living independently.
Others have a far cuter reasoning behind it - they’re putting the money safely away and letting it collect until their kiddos finally leave the home nest or finish their studies, which is when they’ll give it back in full, so they have a nice booster shot to make living on their own much easier.
Image credits: cottonbro studio (not the actual photo)
Among the supporters, a major group mentioned that they do it to teach a good lesson to their kids. It’s true that rent won’t ever pause if you decide to take a month off, but the “lesson” seems dubious at best. Yes, rent won’t stop while you’re away, but as an adult, you’re bound to realize that and budget accordingly – why not let your kid have some real time off with a little bit less financial obligations?
Perhaps that’s just me, though.
The other camp pipes up with similar arguments. They mention that unless you're financially struggling, at times even if you are struggling, taking rent is just too much. People point out that they started charging rent before that daughter even had a job, which was also quite polarizing.
Despite all of that, there is no one clear-cut answer to this question.
For example, the people behind Nosso, the England-based family finance planning app, suggest that you should charge rent no matter what.
If you’re well off, it will give them a habit of putting away money and help them become more financially independent. If you put it all into a savings account, they’ll have one foot in the door when time comes for them to get a place of their own.
And if you’re struggling with the rising costs of housing, you’ve got even more reason to do so, especially if the added finances make a difference.
The ultimate choice is up to your family. The best thing to do is to discuss it with your kids way in advance so that there’s no bad feelings or surprises. By working as a team, you can set a fair amount of rent that you’ll take (or won’t) and arrive at a solution that will make everyone happy.
Add your voice to the discussion in the comments below!
There is no clear consensus from the community as there really is no one-size-fits-all solution, but that's for you to decide
Image credits: Alexander Grey (not the actual photo)
