Inflation of 8% in June in Quebec. I sometimes seem to take the phenomenon lightly by telling you that it will eventually pass, but in the meantime, like you, I'm freaking out on my grocery bill.
Still happy not to have a slew of mouths to feed...
By the way, if this is your case, and that said mouths are those of an offspring who have passed the age to enter the SQDC, is galloping inflation an opportunity to demand a pension?
Let's explore the question again.
Camped positions
Having already addressed the subject of young adults clinging to the family nest, I know that the subject can arouse passions.
There are people for whom charging their children rent would go against their parental role. There are others for whom it is a duty to make the young person contribute as soon as he starts working, for the trouble.
The rise in consumer prices does not change these positions. The former will continue to offer lodging and a table without demanding anything in return. The latter will continue to collect the contribution of their descendants.
Between the two are many parents who are unsure of what to do or who simply do not dare to broach the subject.
For these, the context is conducive to breaking the ice.
Don't mix it all up
Important, we must isolate the financial question from the other issues that could arise from the persistent presence of what is called a Tanguy. If he's not helping to keep the household running smoothly, if he's turned the basement into a perpetual gathering place, and if he appeases his munchies with frying at 3 a.m., maybe he's worth better sort out those "details" first. (I use the masculine to lighten up, but young women are also concerned.)
If he is reluctant to work when he has dropped out of school, his financial contribution is not the problem, it is certainly not the solution. The threat of imposing a pension will not improve the situation; in terms of instilling notions of financial literacy, the approach does not seem appropriate.
Open chat
If the child attends university or CEGEP more or less full time, it would be exaggerated to require that he participate in family expenses, even if he earns income. On the other hand, it is not embarrassing to ask him to cover his personal belongings (clothes, cell phone, outings).
If he uses his parents' car extensively and empties the pantry with his friends, that's up to the parents, but it's not a bad idea to remind him of the price of groceries and gasoline.
In fact, that is the starting point. If it has not already been done, we must explain to the young people how much it costs to operate the house, with supporting invoices. Even before adolescence, young people must have understood this obvious fact: money does not grow on trees.
Young person's income
The pension is possible if the child earns significant income. This assumes that he has completed his studies and entered the world of work. If the subject of money has already been discussed openly with the family, if the offspring has already been made aware of the cost of living, it will be easier to start the discussion and reach an agreement about rent.
As I have already explained here, the amount should not be symbolic. One of the objectives is to distribute the financial burden of the household more equitably, especially when the parents' budget is tight. The main goal remains to develop a sense of financial responsibility in the young person, and in this regard, a monthly payment of $200 seems insufficient.
Should we exempt him from it to help him accumulate a down payment so that he can buy a condo? Perhaps, it depends on the seriousness that the child applies in this process. Without rent to pay, we are entitled to expect a very high savings rate. If this is not the case, or if the funds are invested in speculative assets (crypto, NFT, etc.), intergenerational cohabitation could last a very long time.
If in doubt, the parents could claim a pension and put the money aside themselves, without announcing it, with a view to acquiring it.
Yes, that may sound paternalistic.
Bad ?
