Should parents start charging teenage children board?

New research has revealed that Aussie parents should start charging their kids rent once they turn 19.

According to a survey of 2085 Australians aged 16 or older conducted by comparison site finder.com.au, 22 per cent of those aged 25-29 are still living at home.

The survey asked at what age adult children should start paying board.Not surprisingly, young Australians aged between 18 and 23 argued they shouldn’t be charged rent until they reached their twenties.

One in five Australian parents said they wouldn’t charge their child any rent regardless of their age or financial circumstances, while around 18 per cent said they would start charging board only once their child found a job.

Most children by the time they are 19 have finished high school and most have a job.

Once they start earning a steady income, charging your children board helps prepare them for the real world and make that step towards independent adulthood.

Some parents might charge board for financial reasons if they need to help subsidise the cost of living, while others might be more interested in teaching their child good financial habits.

Charging board is a good way for children to learn to manage their money sooner and becoming responsible for themselves, it also teaches them to contribute to the home.

If you were to put a price on what it actually costs to afford the lifestyle they have at home, most young people would not be complaining about the cost of board.

The board many parents charge their children would not even cover one day’s worth of meals, washing, and Wi-Fi.

In our cash-free world it could also be a great chance to help them set up their first direct debit and show them what its like for money to be taken each week.