Parents charging children rent rises due to cost of living crisis
The number of parents charging “bed and board” rates to their adult children is rising in line with living costs, according to a recent survey.
Almost a third (32%) of parents who do not currently ask for digs from their 18 to 30-year-old children say they may have to join the 48% that currently do and start charging, due to unaffordable bills.
The rise in the figures comes as food and non-alcoholic drink prices rose 18% year-on-year in February.
The charges can apply to specific payments, such as broadband, gas and electricity, but 71% of parents ask their children for general contributions to all of their bills.
However, the data also revealed that 40% of parents whose children have moved out are financially supportive to them.
Adam Bullock, director of polling company TopCashback, who commissioned the poll, said of the reasons in the upturn: “It’s already a challenging time for people with huge energy bills.
“The cost of living crisis is hitting all of us hard. But parents who are still financially helping adult children out, mainly through necessity, are facing a double burden as their child’s cost of living rises too.”
Yaheshka Chapanery, a member with TopCashback, said: “Costs have really escalated and kids need to understand the impact of an extra person on bills in the house.
“It’s all very well they earn their money, but they shouldn’t have no overheads and it can’t be party time for them while parents pick up the pieces. It’s also important to put responsibility into their palms early, not just money.”
