How much of my 18 yr. old son's paycheck should I take from him?

Question

My son got his first job at McDonalds. He is living at home. I want to take a percentage of his pay and put it aside for his car insurance, etc.. I can't see him just blowing his whole paycheck on junk. What percentage do you think is fair?

Answer 1

Take around 20-30 percent and explain to him why you are doing it. Most 18 year boys who get their first jobs are likely to blow their money on stupid stuff. Just tell him you are setting up a bumper/safety net for him in case he runs into a little financial trouble. Part of that could be used as rent money.

Answer 2

I think it is time your son starts to save and learn responsibility. I am almost 21 years old. I know all about that situation. It is not up to you to take the money to put it up.

He is the adult. He has to decide his priorities and where his money goes. After all he is making it. However, you have to say now as he is a working adult, it is time to start paying some "rent" and paying his own bills/insurance.

Have a talk. If he is making 8 an hour (depending on the location and min wage). Working 8 hour days for 5 days a week (full time). He should be making 1,280. Then minus tax's of state and fed withholding, he should be making at least 900 a month.

Car insurance let's say 1,200 a year. (Mine is 1,500 student discount since I have the best I can get, so give or take on what your insurance is and all that). I say about 200 per pay check. A lot of insurances wants you to pay it in 9 months (like mine). So, need to figure out how much it cost and divide it in the months you have. He should have that well enough paid off by time 9 months comes around, plus left over extra.

Then he will have at least 150-250 rent if he is a college student (as my mom does) and 300 or so if non student.

Then gas. Gas is very high in a lot of locations. Adv price is $3.00 here. I fill my tank every other week or every other other week when not going places rarely. Each time cost adv of $70. That is just going to work, school and running to pay bills or things for my parents. I live 20 miles from town. I have a truck. Adv of 16 to 19 gas milage. With a car he should have way higher.

He should have at least 300 left over to go spend and save up on whatever. His money on that part. He earned it. However, he is an adult and now it is time to pay up on the things he use's and buys.

If he blows his money and doesn't pay the insurance and learns how to pay for other things. Then it is time to drop him from the insurance and make him get his own. He has to learn tough lessons in life and cut the ties between being a kid and an adult.

Answer 3

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RE How much of my 18 yr. old son's paycheck should I take from him?

My son got his first job at McDonalds. He is living at home. I want to take a percentage of his pay and put it aside for his car insurance, etc.. I can't see him just blowing his whole paycheck on junk. What percentage do you think is fair?

Answer 4

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RE How much of my 18 yr. old son's paycheck should I take from him?

My son got his first job at McDonalds. He is living at home. I want to take a percentage of his pay and put it aside for his car insurance, etc.. I can't see him just blowing his whole paycheck on junk. What percentage do you think is fair?

Answer 5

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RE How much of my 18 yr. old son's paycheck should I take from him?

My son got his first job at McDonalds. He is living at home. I want to take a percentage of his pay and put it aside for his car insurance, etc.. I can't see him just blowing his whole paycheck on junk. What percentage do you think is fair?

Answer 6

If he's driving he should be paying his own car insurance... if he's still on your policy let him know how much his portion is for. Since he's 18, and assuming he's finished with high school, you might want to hit him up for rent as well.. perhaps a few hundred a month so he'll learn how to manage his money. There is no free lunch in life, the sooner he learns this the better off he'll be. He might piss a moan but you have to do this for his own good. Good luck!

Answer 7

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RE How much of my 18 yr. old son's paycheck should I take from him?

My son got his first job at McDonalds. He is living at home. I want to take a percentage of his pay and put it aside for his car insurance, etc.. I can't see him just blowing ...show more

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RE How much of my 18 yr. old son's paycheck should I take from him?

My son got his first job at McDonalds. He is living at home. I want to take a percentage of his pay and put it aside for his car insurance, etc.. I can't see him just blowing his whole paycheck on junk. What percentage do you think is fair?

Answer 9

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RE :How much of my 18 yr. old son's paycheck should I take from him?
My son got his first job at McDonalds. He is living at home. I want to take a percentage of his pay and put it aside for his car insurance, etc.. I can't see him just blowing his whole paycheck on junk. What percentage do you think is fair?
Follow 54 answers

Answer 10

you should discuss what responsibility is. explain the importance of having the money for car insurance and what would happen if he didn't pay for the insurance. He's 18 and he's gotta grow up sometime, so let him be the one to pay the bills, and sometimes you can talk to your sons manager and get a certain amount deducted automatically and redirected to another account. Don't do a percentage amount cause that makes it too confusing, say a flat rate like 100.00 every 2 weeks or whatever the price is. I hope this helps!!!!

Answer 11

Your son is 18 years old and now has a job it is also time for him to learn that the bills must be paid. Instead of taking money from his paycheck present him with the bills themselves and tell him that they must be paid by whatever the date is. This way you will help him to learn to budget his money and make him more responsible. You will have to remind him at first but he should get the hang of it pretty quick. Remind him often that he has the bills to pay. Let him grow up.