A 62-year-old mother in south London requires her 27-year-old son and 24-year-old daughter to pay £300 each month to live with her. This approach reflects a growing trend among families navigating rising living costs by having adult children contribute to household expenses.
Balancing Family Life and Finances
Tricia Carter explains that while her children do not handle chores extensively, they assist when requested, such as with gardening, bin collection, or pet care during family absences. “It’s not scientifically, or mathematically, accurate,” she notes. “I enjoy having them here. At least one night a week, we sit down and eat a meal that we’ve prepared together.”
Financial pressures like higher grocery and energy bills often challenge parents hosting grown children, according to Alice Haine, personal finance analyst at Bestinvest by Evelyn Partners. “Parents must not neglect their own financial wellbeing. They should set expectations from the outset to avoid ambiguity, and ensure all parties budget effectively,” Haine advises.
She adds, “Asking for a contribution towards household bills is not only reasonable but often necessary. Any rent charged should ensure parents aren’t left out of pocket and can continue saving and investing for retirement.”
Teaching Financial Independence
Clare Moffat, head of technical and marketing compliance at Royal London, adopted a similar strategy by charging her daughter £350 monthly during a six-month stay at the family home. “My husband and I had a conversation and said: ‘What we think is good is to have an idea of what things cost and have her pay something in rent,'” Moffat recalls.
“This was a good way to give her financial responsibilities, especially as she wasn’t used to paying bills,” she continues. “Even if you can afford not to charge rent, you’re setting up kids with life skills.”
