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Summer work - Pay for keep

re : Summer work - Pay for keep           reply
17/09/2006 13:45 - Money Matters
If the €350 was nett into his hand I think the €25 per week is a bit low - in fact I would have doubled it to €50 per week. This still leaves him with €300 per week which is a considerable amount of money. Another idea when deciding how much he should contribute would be to get him to come with you doing the weekly grocery shop and allow him to contribute half the cost. In this was he could see what the cost of the weekly bills were and realise how lucky he is to be allowed retain around €300 per week.

Summer work - Pay for keep           reply
02/09/2006 14:21 - Money Matters
My son had a summer job and earned a nice packet from it (average €350/wk over 9 wks). He paid his keep at €25 per week and bought himself €150 worth of clothes out his earnings. I´d be interested to know how this contribution to the houshold compares generally. ANyone any comments?

re : Summer work - Pay for keep           reply
15/04/2007 11:36 - Money Matters
When my son got his first summer job about 4 years ago he earned approx €250 per week. We asked him to pay €25 per week housekeeping and to put the same amount into a credit union account, it´s still there, then he had to put money aside to pay for his new school uniform and books as he was going into 5th year. Each week he put €50 aside for this and by the end of the summer he had €400 saved. We also said that if he needed any clothes etc he had to buy them as I wouldn´t be buying him any new clothes until Christmas. We didn´t do this because we were short of money but to teach him how to manage his money. He was free to spend his money as he wanted and he spent most of it on cd´s and computer games.

In August when he bought his school stuff he was surprised when he didn´t have enough for everything, his uniform and shoes cost about €180 and he was amazed how quickly his €400 was spent.

The following summer when he knew his school stuff wouldn´t be so expensive he offered to pay for his younger brothers things, we told him instead to put the money aside to pay for his college fees, which he did.

The same rules applied last year when my daughter started work and so she is now saving in the credit union for her first car.

I think it´s very important that they learn how expensive life is and to manage their money for themselves and this summer when they both have jobs they will automatically save in the credit union as well as paying towards the household expenses.

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