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Working children living at home

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  • clb74 said:

    shine166 said:

    If we were sensible & saved & saved we could possibly come up with a deposit and a mortgage.

    But todays young adults in Greater London have no chance.

    A 1 bed flat in Bromley would be a minimum of £300K.

    So you'd need an income of about £60K per annum to get a £240K mortgage & have saved up £60K plus as well.

    It's pretty much an impossibility without financial assistance from someone.

    We will now have a generation that won't be able to "leave home".

    There are not enough properties and never will be with an extra 300,000 people adding to the housing shortage each year.

    15 People (usually immigrants) living in intolerable conditions, in 3 bed houses is not uncommon.

    People living in garden sheds !

    It's crazy and I can only see it getting worse.

    Never mind there's plenty of room for 300,000 more people to come to the UK each year.

    http://www.msn.com/en-gb/money/personalfinance/housing-crisis-means-15m-adults-living-with-parents-is-this-a-good-idea/ar-BBtyehA

    http://www.msn.com/en-gb/money/personalfinance/house-prices-rise-to-61-times-average-earnings/ar-BBtyiqF



    How about leaving London ? That's kinda a better option than living with your folks until ur 40
    So we move out to somewhere like Maidstone that's okay but if you've got to travel into London how much does that set you back a month £300 ?
    And some!!
  • clb74 said:

    shine166 said:

    If we were sensible & saved & saved we could possibly come up with a deposit and a mortgage.

    But todays young adults in Greater London have no chance.

    A 1 bed flat in Bromley would be a minimum of £300K.

    So you'd need an income of about £60K per annum to get a £240K mortgage & have saved up £60K plus as well.

    It's pretty much an impossibility without financial assistance from someone.

    We will now have a generation that won't be able to "leave home".

    There are not enough properties and never will be with an extra 300,000 people adding to the housing shortage each year.

    15 People (usually immigrants) living in intolerable conditions, in 3 bed houses is not uncommon.

    People living in garden sheds !

    It's crazy and I can only see it getting worse.

    Never mind there's plenty of room for 300,000 more people to come to the UK each year.

    http://www.msn.com/en-gb/money/personalfinance/housing-crisis-means-15m-adults-living-with-parents-is-this-a-good-idea/ar-BBtyehA

    http://www.msn.com/en-gb/money/personalfinance/house-prices-rise-to-61-times-average-earnings/ar-BBtyiqF



    How about leaving London ? That's kinda a better option than living with your folks until ur 40
    So we move out to somewhere like Maidstone that's okay but if you've got to travel into London how much does that set you back a month £300 ?
    Or move abroad. As we're members of the EU, you're free to go to any of the member states to work. If I was newly on the job market I'd be looking at somewhere like Barcelona, Nice, Munich, Milan for a job.
  • clb74 said:

    shine166 said:

    If we were sensible & saved & saved we could possibly come up with a deposit and a mortgage.

    But todays young adults in Greater London have no chance.

    A 1 bed flat in Bromley would be a minimum of £300K.

    So you'd need an income of about £60K per annum to get a £240K mortgage & have saved up £60K plus as well.

    It's pretty much an impossibility without financial assistance from someone.

    We will now have a generation that won't be able to "leave home".

    There are not enough properties and never will be with an extra 300,000 people adding to the housing shortage each year.

    15 People (usually immigrants) living in intolerable conditions, in 3 bed houses is not uncommon.

    People living in garden sheds !

    It's crazy and I can only see it getting worse.

    Never mind there's plenty of room for 300,000 more people to come to the UK each year.

    http://www.msn.com/en-gb/money/personalfinance/housing-crisis-means-15m-adults-living-with-parents-is-this-a-good-idea/ar-BBtyehA

    http://www.msn.com/en-gb/money/personalfinance/house-prices-rise-to-61-times-average-earnings/ar-BBtyiqF



    How about leaving London ? That's kinda a better option than living with your folks until ur 40
    So we move out to somewhere like Maidstone that's okay but if you've got to travel into London how much does that set you back a month £300 ?
    Or move abroad. As we're members of the EU, you're free to go to any of the member states to work. If I was newly on the job market I'd be looking at somewhere like Barcelona, Nice, Munich, Milan for a job.
    So if I ever have grandchildren I won't be able to drive a few miles to see my sons and grandchildren.

    I'll have to fly to Europe. Wonderful if you don't care about your family.
  • I have working children living at home.


    2 go up the chimneys and the little one cleans underneath cotton looms.

    Works for me.
  • IdleHans said:

    Idle Jr (who I hope doesn't see this) has just begun his first full time job after college.

    He wont be paid a fortune, but it'll be more money than he's ever seen in his life. We intend to let him keep the whole of his first pay packet, but it's time (at 19 and a half) that he made a contribution to his keep.

    It's not something I've thought about previously, having assumed he'd spend the rest of his life having lie-ins and smoking dope, but does anybody have a guide for what is a fair contribution to the vast quantities of food that he inhales every time the fridge door is opened?

    All contributions gratefully received.

    Spend 1/3, save 1/3 and housekeep 1/3.
  • I like the idea of saving whatever you charge and giving it back for a deposit. I can't believe any parent suddenly desperately needs hundreds of pounds a month as soon as their offspring starts earning. When I got my first full time job my mum charged me £80 a month, a fraction of my salary. It was a token amount on the condition I saved as well, which obviously i did until I moved out. Surely that makes sense as the more rent I was charged the longer it would have taken me to save for a deposit and eventually move out. A third of your salary is ludicrous and would make it more difficult for the child to save.
  • edited June 2016
    It's not about the parents necessarily needing the money although my partner"s ex could do with it. It's about the daughter learning to pay a contibutuon now that she is finallyworkung. her parents sacrificed holidays to send her to private school and she treats the house like a free B&B as does nothing to help either!
  • It's not about the parents necessarily needing the money although my partner"s ex could do with it. It's about the daughter learning to pay a contibutuon now that she is finallyworkung. her parents sacrificed holidays to send her to private school and she treats the house like a free B&B as does nothing to help either!

    Idle jr isn't quite that bad.
    Oh, hang on...
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