Learning about contracts
A concerned parent asked us to comment on this scenario:
My daughter is in her first job and living at home. It’s not highly paid and we agreed a token amount of housekeeping so she could also save something each month. However she’s spending it all on having a good time and is resentful when I raise the subject. What can I say?
But if you follow Ashley’s advice, what if your daughter falls behind in her board payments? Won’t that cause additional friction between you both? I’d hate to make a mistake with my budgeting and then be afraid to go home because I knew Mum wanted that payment…
Tip: If you negotiated and wrote up a clear contract (with both of you signing it) your daughter would know what’s expected of her. Better she learn what happens if you break a contract with you than a visit from the ‘Repo Man’!
Do you agree with me?
Scaredy-cat Pat
One of the Money Mindset Mob - helping teens get their head around money
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