63: Charging rent: should you charge your teens and young adults rent and, if you do, what's the best way to go about it?

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In an era where house prices have gone up, wages have stagnated, and young people are staying in the family home for longer, how do we manage the transition to adulthood whilst our young are still living at home?

One of the big debates for parents is whether teens and young adults should pay rent. So when one of our listeners asked us to talk about it, we thought it would be a great topic for our club.

It’s definitely one to think about well beforehand, because your attitude to it will become an important subliminal message to your teen.

For some, seeing your child move out, or start to pay rent is a critical stage in growing up. For others, the idea of charging your teenager - or any member of your family - rent is an absolute no-go.

In fact the age at which our kids leave home varies wildly in different cultures; even within the same continent. Across Europe the average age of leaving home is 26, but in Sweden and Denmark it's closer to 21  and in Croatia and Malta it's nearly 32.

We discuss the concept of being a teenager, how different cultures think about the topic, and the pros and cons of charging rent.

RESOURCES:
https://www.100yearlife.com/ Living and working in the age of longevity.
https://www.lboro.ac.uk/media/media/research/crsp/downloads/2019-family-sharing--a-mminimum-income-standard-for-people-in-their-20s.pdf
https://www.verywellfamily.com/should-you-charge-your-teen-rent-4106963
https://cafemom.com/parenting/we-make-our-teenager-pay-rent
https://www.professorshouse.com/charging-a-teenager-rent/
https://www.newsweek.com/teen-asking-stepdad-pay-rent-house-reddit-1735656
https://empeople.com/learn/empeople-insights/6-real-money-lessons-for-teens
https://sc.lawforkids.org/speakup/view_question.cfm?id=134&page=3
https://www.independent.co.uk/life-style/charge-children-rent-debate-tiktok-b2342234.html
https://www.afr.com/life-and-luxury/health-and-wellness/why-you-should-make-your-adult-kids-pay-rent-to-live-in-your-house-20221219-p5c7ha

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