Should parents charge their adult children rent?

Author

The Pulse by DB8
August 01, 2023

As inflation, interest rates, and the cost of living keep skyrocketing, more adult children are finding themselves back at home with their parents. Is it time for Ma and Pa to start collecting the big bucks?

The Pulse Results (49 Votes) 📈

Side A 57.14% - Parents should charge their adult children rent, it teaches them responsibility

Side B 42.86% - Children are your children regardless of age, they are not your tenants to charge

Poll closed: August 2, 2023

Published on: March 17, 2023
Published by: Newsweek

Gone are the days when "you live in your mom's basement!" was a major burn. We love our parents, but let's be real, living with them forever isn't exactly our dream scenario as we step into adulthood.

Today, inflation is out of control, interest rates are rising almost monthly, and don’t even get us started about the cost of living… WTF.

Things have certainly changed, and "you live in your mom's basement" can be considered more of a flex than a burn in today’s world. More and more adult children over 18 are staying home for longer, either to save money strategically or because the alternative options seem impossible right now.

While some parents are cool with having their kiddos (and sometimes even their partners) right under their roof rent-free, others firmly believe in charging their adult children for the luxury of staying with them. They say it's not just about the money - it's also about teaching life lessons!

We heard your thoughts on "renting vs. buying" in last week's Pulse, and today, we want to know what you think about parents charging their adult children rent.

The Debate Showdown

Side A: Parents should charge their adult children rent, it teaches them responsibility

  • Asking adult children to pay rent helps teach a sense of financial responsibility. It encourages budgeting, saving, and being accountable for how you’re spending your hard-earned cash! Living rent-free isn’t a reality in the real world. Parents who charge their children rent are helping teach them valuable life lessons.

  • Financially contributing to the household expenses helps maintain balance and fairness. It lightens the load on parents, who might be nearing retirement and facing financial challenges of their own.

  • Charging rent might motivate adult children to start looking for their own place, promoting autonomy and personal growth – after all, if you’re going to pay rent, might as well get the privacy that comes along with it!

Side B: Children are your children regardless of age, they are not your tenants to charge

  • People seem to assume that all adult children living rent-free with their parents are free-loaders, but that isn’t always the case. Waving the responsibility of rent allows adult children to save money and focus on their own financial goals, like paying off student loans or saving for a down payment on their own home. Helping your children get ahead in life is the ultimate goal and giving them time to save money helps them get ahead.

  • Maintaining a strong emotional bond with your children is vital, and charging them rent may create tension, making the relationship feel more transactional than emotional. Adult children can contribute to the household in other ways like as maintenance, pet care, cooking, and chores.

  • Your children are your children no matter what age they are. It is your duty to care for them, and charging rent might be seen as breaking away from traditional values. 

Previous Debate

Renting VS. Buying a home

To buy or not to buy? That is the age-old question. Homeownership was once the OG symbol of adulting, success, and all things 'grown-up', but its allure has definitely shifted in today’s economy.

debates.db8.com/p/renting-vs-buying-home

The Pulse Results (47 Votes) 📈

Side A 34.04% - Homeownership is a thing of the past, renting is where it’s at

Side B 65.96% - Homeownership is an investment into your future, it’s the ultimate goal

Poll closed: July 31, 2023

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