INTRODUCING: Should Your Teenage Kids Pay Board? (Money: Faith & Finance Podcast)

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Teenagers earning money and paying you board? What about adult kids living under your roof?

Joni asked Pete and Ben to get stuck into the family affair of working out if your kids with jobs need to stump up. So they did, diving deeper than their kneejerk response of "YES". Growing up with the expectation of paying board, Pete and Ben acknowledge the changed landscape of home ownership and accessibility. But the life lesson of paying board remains, as well as the opportunity to live out biblical principles of respect.

Key Takeaways:

• Financial Responsibility: Charging board teaches young adults to manage finances and prepares them for independent living.
• Family Dynamics: Open communication about finances and responsibilities can reduce tension and foster understanding among family members.
• Economic Landscape: Rising costs of living and rental rates contribute to adult children staying home longer.
• Adapting Traditions: Modern families may need to adjust traditional approaches to rent and board, weighing financial necessity against educational opportunity.
• Value-Based Discussions: Families can leverage biblical principles, such as honouring parents, to guide discussions about board.

Notable Quotes:

• "Shouldn't they, in a sense, contribute to the cost of the house? And I think the answer is yes." – Pete Burrows
• "In adulthood, spoiler alert, you're going to cop 100% of the cost of living." – Pete Burrows
• "We're trying to prepare you for adulthood. And in adulthood…you need to pay a percentage of those costs." – Pete Burrows
• "Is it more about while you're here, we're trying to teach you a lesson?" – Ben McEachen

 

Got a question, comment or personal story to share? Send it through at hopepodcasts.com.au. Ben and Pete will get stuck into it on a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

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