Paying Keep To Parents?

Or send you hate mail before the end of this year- if there is a stock market crash in the months after brexit.
Particularly in the event of no deal.

If Brexit causes a crash on the london stock exchange,its effect on the S&P is leveraged over the global economy and is a US based on the NYSE... hence might be ok regardless, or even benefit.

Reply 21

maachu_pichuu

20

Original post by mnot

If Brexit causes a crash on the london stock exchange,its effect on the S&P is leveraged over the global economy and is a US based on the NYSE... hence might be ok regardless, or even benefit.

No Deal Brexit will hurt UK Domestic Stocks, anything with high sterling revenue. Dollar earners will benefit, 50% of my portfolio is in dollar assets, so these will go up as sterling plummets. As sterling plummets I gather some cash to buy UK Domestic Stocks for dirt cheap.

Reply 22

DrawTheLine

22

Original post by maachu_pichuu

I wouldn't take money from my kids, I don't think it's reasonable to take money from people who are your responsibility. I would tell my kids to take that money and invest it in the market, I'd rather they save and invest money than give it to me. Because if they give it to me, I'll invest it either way (and I want them to learn how to invest and never have to depend on a job ever again).

If the kid is blowing money on crap, then yes, they need to give it to me, but if they are saving and investing it, I don't want a penny.

Once they're an adult you aren't responsible for them anymore.

Reply 23

maachu_pichuu

20

Original post by DrawTheLine

Once they're an adult you aren't responsible for them anymore.

You still kind of conceived them. In white families it is normal to throw kids out at 18 so they fend for themselves, this is not the case in any other culture around the world. Arabs, asians and africans have tight family culture, they will not throw their kids out on the street just because they are 18.....that is diminished responsibility.

Reply 24

RogerOxon

21

Original post by megan2811

I’m 18, just finished my a levels and going for a job interview next week for a proper paying job. My mum said she’s expecting me to pay her £200 a month, which i found unreasonable but she refuses to budge. I just want to know if anyone else in a similar situation pays their parents money like that every month... I wouldn’t not pay keep but i just thought £200 is a bit excessive when i’m always buying my own food anyway...

It's up to you to compare it against what it would cost you to get your own place. I suspect that it's a bargain, especially if you eat ANY food that you didn't buy.

(edited 4 years ago)

Reply 25

DrawTheLine

22

Original post by maachu_pichuu

You still kind of conceived them. In white families it is normal to throw kids out at 18 so they fend for themselves, this is not the case in any other culture around the world. Arabs, asians and africans have tight family culture, they will not throw their kids out on the street just because they are 18.....that is diminished responsibility.

I don't agree with chucking your kid out as soon as they become an adult. I just mean that if you have a job and you're an adult living at home, it's reasonable to pay towards the household bills seeing as you are contributing to them. I think it's just polite to at least offer to pay for what you use or pay towards it.

Reply 26

maachu_pichuu

20

Original post by DrawTheLine

I don't agree with chucking your kid out as soon as they become an adult. I just mean that if you have a job and you're an adult living at home, it's reasonable to pay towards the household bills seeing as you are contributing to them. I think it's just polite to at least offer to pay for what you use or pay towards it.

I agree with you, but there are legit "parents" (I wouldn't even call them that) who think it is ok to chuck their kids out at 18. I would still not take money from my kids if they were investing it, but I agree, if they are blowing the money on £1000 headphones, they better pay me rent!

Reply 27

Sammylou40

20

You think that’s more than enough?
Ok

A fully grown adult, who expects to be treated like one, come and go as they please etc and works for a living is getting a bargain being asked to contribute £50 per week.
Chipping in with food is the tip of the iceberg.
There is rent/mortgage, gas electricity water, council tax, line rental for broadband and possibly tv, tv license to name a few. Then we move on to such things which you think are trivial such as laundry detergents and all the other minutiae that comes with running a house.
If an adult with a wage thinks £50 is a rip off they are free to move out and see where £50 gets them.

Original post by Fermion.

Yup. Totally agree. I don’t pay my parents any money but I buy my own food and my own supplies. Sometimes i’ll Buy the weekly shop to help out and I think that’s more than enough

Reply 28

londonmyst

19

Original post by mnot

If Brexit causes a crash on the london stock exchange,its effect on the S&P is leveraged over the global economy and is a US based on the NYSE... hence might be ok regardless, or even benefit.

Not something that I would bet on this year.
I'm hearing short term doom&gloom commentaries that London is also the unofficial money laundering capital of the world and criminals will pull their ill gotten gains out as fast as they can to transfer to a stabler haven.
Huge sums leaving the country, economy contracting, speculators spread betting/shorting and trying all sorts of financial shenanigans to capitalize on uk economic turmoil.
Only a matter of time until other stock exchanges and economic powerhouses heavily exposed to London also start feeling some symptoms.
Or heed the brexit apocalyptic pronouncements of the panicked and hysterical.

Reply 29

Sammylou40

20

It is not normal at all in white families for children to be thrown out at 18. It happens in a small minority
Choosing to leave is entirely different

Original post by maachu_pichuu

You still kind of conceived them. In white families it is normal to throw kids out at 18 so they fend for themselves, this is not the case in any other culture around the world. Arabs, asians and africans have tight family culture, they will not throw their kids out on the street just because they are 18.....that is diminished responsibility.

Reply 30

DrawTheLine

22

Original post by maachu_pichuu

I agree with you, but there are legit "parents" (I wouldn't even call them that) who think it is ok to chuck their kids out at 18. I would still not take money from my kids if they were investing it, but I agree, if they are blowing the money on £1000 headphones, they better pay me rent!

I agree with you here as well. I don't see how any parent could easily chuck their kid out for no good reason at 18. I can understand if the kid was causing trouble, like bringing back drugs or getting into criminal trouble at the house. That's fair enough that you don't want them living there. But just because they're 18? That's crappy parenting. I also agree with the blowing money on other things. If they can afford to spend money on useless rubbish then they can afford to pay their parents for the facilities they use at the house.

Reply 31

maachu_pichuu

20

Original post by DrawTheLine

I agree with you here as well. I don't see how any parent could easily chuck their kid out for no good reason at 18. I can understand if the kid was causing trouble, like bringing back drugs or getting into criminal trouble at the house. That's fair enough that you don't want them living there. But just because they're 18? That's crappy parenting. I also agree with the blowing money on other things. If they can afford to spend money on useless rubbish then they can afford to pay their parents for the facilities they use at the house.

The youth these days see money as means to materialism, everyone wants to get rich for the wrong reasons. The only reason to get rich should be to get financial freedom from work and the ability to use that time for the welfare for the poorest and weakest in society. Personally I see no other reason.

This is why the richest people in the world are often the most frugal in the world, you don't get rich buying depreciating assets. Most of the wealth of the forbes 100 is held in either private equity or public stocks. There are very few celebrities on the forbes 100 for that very reason. Business owners have wealth, you can't become wealthy being a consumer in society, you need to either own your own business or own stocks, no other way.

Reply 32

cherlloydfan1

12

my mum makes me pay her 200 pounds a month and I only work 30 hrs a week and don't earn that much money

Reply 33

maachu_pichuu

20

Original post by cherlloydfan1

my mum makes me pay her 200 pounds a month and I only work 30 hrs a week and don't earn that much money

How much do you earn? What do you do with the money you earn?

Reply 34

Sammylou40

20

If you’re working 30 hours per week even on minimum wage then £46.15 per week will still be a bargain compared to the cost of living elsewhere. It probably costs much more than that if you add up everything you use

Original post by cherlloydfan1

my mum makes me pay her 200 pounds a month and I only work 30 hrs a week and don't earn that much money

Reply 35

browniecat

10

i think parents charging their children rent is a bit weird but it’s probably because my parents would never expect it from me since they feel they still need to take care of me (also before anyone says anything they refuse any money i offer to pay for bills and such, i’ve tried ok). You still have a lot left over though from taking £200 out so i say just pay it, it sucks but you’d be paying way more if you were living on your own and other people have had to pay their parents way more

Reply 36

londonmyst

19

Original post by maachu_pichuu

I look forward to no deal, pick up UK domestic stocks for dirt cheap. I am always a buyer of stocks, in particular during periods of distress and panic. When there is fear in the market, I become greedy. I will find every penny I can to buy stocks in distressed situations in the market.

Knowing Boris we are probably going for no deal, so surprised sterling is at 1.27, makes sense to buy £1100 worth of Apple before sterling tanks even more.

In the short term, no deal is guaranteed to be a very negative experience for england and scotland.
I'm not into project fear but I think you are significantly underestimating the extent of the short term impact that no deal is likely to have.
Some of my Brexiteer friends are selling off their stocks and property assets to invest in gold.
A few just cashing out and locking up in their lifesavings in offshore bank accounts, waiting for a property crash to happen so they can buy up all the assets.

Reply 37

maachu_pichuu

20

Original post by londonmyst

In the short term, no deal is guaranteed to be a very negative experience for england and scotland.
I'm not into project fear but I think you are significantly underestimating the extent of the short term impact that no deal is likely to have.
Some of my Brexiteer friends are selling off their stocks and property assets to invest in gold.
A few just cashing out and locking up in their lifesavings in offshore bank accounts, waiting for a property crash to happen so they can buy up all the assets.

Gold is the second worst investment you can make, cash is the worst. The UK will recover, no deal will be a shock, but there will still be food on the table and a roof over our heads.