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Mom Confessions Mom Confessions

9 and 13 y/o pay rent....every month

Posted by Anonymous   + Show Post
My 9 and 13 y/os pay rent out of their allowance every month. They get between $10 and $50 a month depending on how many chores they do that month. They each pay $5/ mth for rent. I'm getting them used to paying bills at a young age so when they're older it won't be a shock. I take the rent money and save it for them or invest it in a stock account for them when they turn 18.

Do you agree or disagree with this?


UPDATE: Everyone is blowing this way out of proportion. This rent issue is actually a very small part of our lives and the kids like to choose where to invest their money every month. And yes iI supplement this amount too. They are learning a little about investments and money management. They are very much loved and all their needs are well taken care of by myself. Its actually more likea game than paying serious rrent. They are living their childhoods as kids, not little adults paying bills, etc. DS13 is in all honors classes at school, plays football and does track. DD9 gets straight As, does dance and basketball. They are not slaves. They have chores to do daily and I can afford to pay them usually $50/month in allowance. Sometimes it varies. So chill out everyone. I'm not damaging them psychologically and there is no abuse or neglect. For goodness sakes, its a $5/month game we all enjoy playing and learning from.
Posted by Anonymous on Dec. 8, 2013 at 7:56 AM
Replies (21-30):
Anonymous
by Anonymous on Dec. 8, 2013 at 8:14 AM
I don't think I'd have my kids pay rent, but maybe for certain items that they wanted and didn't need.
Anonymous
by Anonymous - Original Poster on Dec. 8, 2013 at 8:14 AM
Quoting beans13: My 7 yo dd wanted an American Girl doll so much. We made her save up $100 towards it (we live in Canada). When she had $70 a friend was going to NY and said she would pick it up. She took a loan from us for the other $30. She paid it back weekly from her upcoming allowances.


Good for you. Teaching her financial responsibility.
Grnyann65
by on Dec. 8, 2013 at 8:15 AM
Teaching your kids responsibility is never a bad thing. Your house, your rules.
moroccanmommy
by Silver Member on Dec. 8, 2013 at 8:15 AM
This

Quoting SageAdvice:

Um, that's extremely radical and I'm damn sure not at all healthy psychologically. .


Kids should be allowed to be kids while young and children.


Talk about instilling fear of ones parents not being able to provide for them and general feelings of being unsafe about the world and their future, at a young age.


They are not adult, but are expected to carry the burdens of adults. RENT at 9 and 13, wow.


( I know that's not your intention but. . .it's either going to go well for them, or they will spend more money than they will ever make/earn as children ( even in a good investment portfolio ) trying to fix the damage you did mentally to their psyche later when they are grown )

Anonymous
by Anonymous on Dec. 8, 2013 at 8:15 AM

or, they're going to rebel, and be homeless due to your abominable thinking

Quoting Anonymous:
Quoting Anonymous:

so then why call it 'rent money'??  Why not just call it what it is, SAVINGS???!!!

Quoting Anonymous:
Quoting Lydlou02: What do they get in return for their rent money?


They get a stock account that has brought them thousands in dividends and when they're 16 (if I approve) can buy a new car from their years of rent money.




So paying rent will be second nature to them when they're older.


lnrmom
by Ruby Member on Dec. 8, 2013 at 8:15 AM
Good luck with that.
Anonymous
by Anonymous - Original Poster on Dec. 8, 2013 at 8:17 AM
Quoting huntersmama711: What happens if they stop doing chores and aren't earning their allowance? What happens if they don't pay?

We decided that when ds gets his 1st job he'll have to give us 25-50% of his paychecks, but not towards rent. It'll be money we put away for when he buys his first home or gets married.


If they don't meet their $5/month rent we will invest it anyway into their stock ACCTS. Its only $5 people!!!!
halleys_mommy_1
by Platinum Member on Dec. 8, 2013 at 8:17 AM
4 moms liked this
Wowwwwwww. People need to chill. I think op is doing something her kids will appreciate when older.

She nver said she made them wash the floor by hand for $$ or do anything deamed unsafe. Whats cps gunna find.... kids doing CHORES for an allowance?! Jeeze. So what if she takes $5 for "rent"

Alot of parents take HALF and put it away.
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Anonymous
by Anonymous - Original Poster on Dec. 8, 2013 at 8:18 AM
1 mom liked this
Quoting Anonymous:

or, they're going to rebel, and be homeless due to your abominable thinking

Quoting Anonymous:
Quoting Anonymous:

so then why call it 'rent money'??  Why not just call it what it is, SAVINGS???!!!

Quoting Anonymous:
Quoting Lydlou02: What do they get in return for their rent money?


They get a stock account that has brought them thousands in dividends and when they're 16 (if I approve) can buy a new car from their years of rent money.



So paying rent will be second nature to them when they're older.



For goodness sakes its $5.
SageAdvice
by on Dec. 8, 2013 at 8:19 AM

Right, But you handled it buy showing her if she wanted a special expensive toy she had to help pay for it.

That's different than making a 9 and 13 year old pay rent under the guise she is. She is quite possibly instilling fear, instead of a good savings and investing ethic in those children, and yes how she's doing it is abuse.

There is a HUGE difference!

Quoting beans13: My 7 yo dd wanted an American Girl doll so much. We made her save up $100 towards it (we live in Canada). When she had $70 a friend was going to NY and said she would pick it up. She took a loan from us for the other $30. She paid it back weekly from her upcoming allowances.

 

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