Yes ‘It prepares them for real life’
Jay Bhayani, 50, is a solicitor and runs her own HR and employment law firm. She lives in Sheffield with partner Alex, 52, son Milan, 17, and daughter Asha, 14.
We have a rule, while the kids are in education, they don't have to contribute, but if they have a job and live at home, I expect them to pay board. So, when Milan started working at Tesco after his GCSES rather than continuing to A levels, I told him he needed to pay his way. He understood and didn’t complain. Now, he pays £100 via standing order every month. It gives him a sense of pride to be contributing to the household, and he’s learning the value of money, and spending the rest of his wages wisely. I think it’s vital for young adults to understand how to balance finances and to budget. It prepares them for real life. In the real world, you have to pay to have a roof over your head. Kids need to know that they can’t always rely on mum and dad. At the moment, the economy is pretty unforgiving for the younger generation. As parents, it’s our job to prepare them for this, and charging rent is a small step towards that. It’s not about taking the financial burden off Alex and I. We live comfortably, and while Milan’s £100 certainly helps, teaching my boy the value of money is far more important to me.
Jay believes paying rent will help Milan appreciate money