Since the cost of rent is getting super expensive now, I was planning on getting a part time job when I turn 16 and have my entire paycheck going towards rent. Should I do this or just have my parents figure it out?
https://www.reddit.com/r/personalfinance/comments/1t2v7iy/should_i_get_a_part_time_job_to_help_my_parents/
Posted by ilove-9S
10 Comments
Do your parents need your money?
I’d get a job and work to save money for future you. when you go to college, you’ll have to pay for yourself seeing how your parents struggle
If they need help, help where you can, especially if you’re living with them.
But also invest in your own future. Work experience and/or a college degree can increase your income significantly.
I think it’s very admirable that you want to help your parents. I wouldn’t say your whole paycheck but if you wanted to give them money from working maybe you can take over a bill or so. Like pay the electric bill, the phone bill or give them money towards groceries. Or even a certain amount, like 1/2 your check or a specific $ amount. I’d also start a savings account and whatever money you keep for yourself put at least 1/2 into that so you can have money for things like prom, going out with your friends & buying things you want but don’t want to burden your parents with (clothes, games, etc). I think it’s important to keep at least some for yourself.
It’s a really nice gesture and something your parent would appreciate but I would go for a different way, take a job, and divise your salary in 3 part
Part 1 help your parent
Part 2 save some money for futur you
Part 3 enjoy yourself to make sure you not upset working and have nothing for you
Each split can can vary but do not give everything yo your parent
If you feel you had to ask, the newer is highly likely yes.
I think everyone else seems to have a consensus on good advice. But want to take a moment to say, you’re a good person. Your parents must be proud to have such a thoughtful kid.
I think that would show a huge amount of love and maturity.
In addition, you could start buying some things for yourself and start saving money for your college education. . You might be able to get scholarships and grants, but you would have what you saved for a back up
No. You can get trapped in a cycle where they become dependent on you and you can’t afford to live your own life.
If you’re able and willing to help, you should. Alternatively you could buy groceries once in a while or pay them half your income for living costs, half to your savings account