How to Decide the right Amount of Rent to Pay to your Parents

Paying rent to your parents can often be a very tedious and stressful thing to have to do, especially when you yourself as a student, teenager or young adult may be on a low income as it is. You may want to spend all of your money on yourself and on luxuries for you, your friends and your romantic partner as a means of enjoying your youth while you have it. However, in the event that your parents begin demanding money from you, there is very little that you can do other than consider how much to actually pay them.

Depending on how much income you have subsequently changes the decision as to how much to actually pay to them. If you are on a small amount each week then it is unfair of them to ask for all of it but even in the event that they do, try to compromise with them and tell them that you need some of it for yourself to go out, buy sustenance or get from A to B. It is your money, it is your income and therefore, it is your final decision as to how much to actually pay. Look at your income, look at their demands and make a logical decision as to how much to pay them.

You could also consider paying them a small percentage of what you earn or up to a half. Try to look at your regular routine and what exactly you spend money on, what can be altered and cut and what can be saved up for the future. Sometimes making savings is a necessity. Look at what your parents need the money for also. If it is to pay bills or buy supplies then you can decide an amount to pay them to keep you at home and help out around the house a bit. It generally comes down to how much you earn, how much they are demanding and what both of you use it for that can help you make a decision as to how much to pay them.

While some parents may ask for money as a means of helping around the house and preparing you for the future, not all parents are the same, some may just be being greedy. Look at your income, look at what you spend it on and what they will use it for and from there, you can make a logical, responsible and reasonable decision as to how much rent you pay to your parents. Do not be stingy but at the same time, to not let yourself become a walking bank to those around the house. Money is tight and money is an issue that many people come into contact with. If they have a source of income from you, then sometimes greed can get the better of them. Make a reasonable and responsible decision.