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Broken Down Cost of Living – Logging Debt Away PERSONAL FINANCE

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Many commentators have resisted the $ 250. I have decided to charge the twins with rent from next month, OR if they have a full-time job and are not full-time students. Let me explain my logic a little. And believe me, I didn’t just make a bizarre decision or magically pulled a number out of the air.

I have consulted several seniors who are much wiser and more experienced than me, including my own parents, who have several of us children (there are 5 of us) who move back in with them for some periods of adulthood. I also spoke to people my age who had to move back in with their parents at some point to see how it worked. I don’t know anyone who didn’t move out of their parents’ house right after college or because they had a full-time job. That was everyone I know first priority.

With the exception of the overall pandemic situation, which is so far from the norm that there is no way to predict or plan for it, it was agreed that asking adults to live at home was standard practice, as well a moving destination. The feedback on saving and returning some of this money has been split up, some returned everything when they moved out, some returned some, and many did not. In all cases, this was not implemented in “difficult” times for the adult child or as a punishment, but when the child was employed and did not appear to have the intention of making any progress in education or financially (savings). )

Monthly cost of living

First, let’s break down our monthly cost of living, which I took into account when creating this number.

Monthly rent $ 650
Internet $ 63
Utilities $ 300
includes water, electricity, gas, sewage, garbage
Food $ 650
total $ 1,663

Based on these numbers, the request to the twins to contribute $ 250 per month towards living expenses requires approx. 15% of the cost of living.

Before you jump on me …

  1. The number of utilities is an average of last year. The monthly costs vary depending on the season and the outside temperature. And I can tell you that in just a month from the return of Sea Cadet and Gymnast, our water bill has increased an additional $ 20 a month.
  2. While I have to keep the Internet at work, I can tell you that the twins wouldn’t live for their Xbox addiction without high-speed Internet. And they definitely make use of it.
  3. While my last budget had a reduced budget for groceries, we took two young men back into the house and all eat more than 3 meals a day here. I need every trick to stick to this number.

Other responsibilities for adults

And just so everything is out there for a full review.

  • The twins each pay their own cell phone bill and equipment fees. (Both bought phones through payment plans.)
  • The twins each pay their own car insurance. Since they currently share the Sea Cadet car, it’s half what it will be if History Buff buys a car.
  • Sea Cadet has not paid these bills since last August when he went with Americorp. I covered her for him. (His auto insurance was inactive while he was away, but he was resumed when he moved home.) He now pays $ 25 every two weeks from his Americorp grant until he gets a full-time job and begins to pay in full .
  • Both twins contribute to the weekly housework, as does the two younger children. These tasks take no longer than 1-2 hours a week. And none of the children are paid for these tasks, we are expected to live here and keep the house clean.
  • Each twin has its own bedroom, closet, and while we share the shower in their bathroom, they are the only ones using the toilet, sink, and storage space. Yes, Sea Cadet’s bedroom is traditionally the living room, but it has a door and I took out all of my office supplies when he moved back and gave him his own room. (The gymnast and princess share the largest room in the house, and both use the bathroom in my room as the main bathroom.)

I think this will give BAD readers a more complete picture of how we live. And more importantly, how I came up with the number that “rents” for my adult children who are no longer full-time students, or even part-time students who have full-time jobs.

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