Pocket money (merged)

StartingAgainKayla70

Hi

I have a son who is 15 years old, all his mates get about £20/25 a week! I give my son £5 a week but he has to do the washing up on mon-fri, and we put £4 a week into his account and he can only get that money out if its someones birthday or xmas time. If he wants to go skating or to the pictures we pay for that and we pay for his bus fair, but if he wants food, ie: sweets etc, then it comes out of his pocket money.

I dont believe in just giving your children money, they have to earn it to get it, otherwise they just dont learn and start taking ALL things for granted.

Gingham_Ribbon

Michaela wrote:

Hi

I have a son who is 15 years old, all his mates get about £20/25 a week!

I dont believe in just giving your children money, they have to earn it to get it, otherwise they just dont learn and start taking ALL things for granted.

:eek: Good grief! If they want that kind of money, they should get a part time job! I worked in Morrisons 3 nights a week and Saturdays at that age. I wouldn't recommend so many hours as it does affect school work, but those kids won't appreciate money when they're older imo!

I agree with you, Michaela. And I can see those kids tapping their parents for money right into their 30s and 40s!

Prudent

Michaela wrote:

Hi

I have a son who is 15 years old, all his mates get about £20/25 a week!

Goodness don't have that much 'spare' cash to treat myself!

sammyy

My three children all get pocket money relating to their ages,As in 13 year old get £13 a month.I didn't used to give them pocket money but now they have to save for things.The things that they think they want (which I would have paid for before) now don't seem so important to them when they're paying.So giving them pocket money actually saves my money now.

ceegee

My 13 yo daughter gets £5 per week. She keeps her room tidy and happily helps with laying the table and doing ironing. I help her out financially at Christmas and for birthdays. My own feeling is that it is easier for her (or anyone, including me!) to make £5 last a week than to make £20 last a month. Most of her friends get more, I think, which makes me feel a bit mean, but she's quite happy! She only started getting pocket money a few years ago as I couldn't afford it before then. Luckily she's quite philosophical and knows that most of her friends' families are financially better off than us, although a couple of them struggle as we do.

sammyy

I do think though that whatever the financial position of the parents,giving them too much is not going to help them in the long run.I do worry how my children would be able to buy a house when they are older given the way the housing market has rocketed in recent years and being responsible with their money has to start early if they are going to acheive their goals in life.We could afford to give them more,but we choose not to.

carol_a_3

My 15 year old son gets £5 a week but I get him his Nintendo magazine on subscription that I pay for and sometimes get him treats etc. He seems happy enough with that.

bonnie_2

when my daughter started secondary school she had all her child benifit,this pays for her to go out even if she comes out with me she has to pay, she buys all her magazines and toileties and clothes £68 is not much for a month if they have to buy everthing on it and pay to go out as well when its gone its gone she ran out of money today so my mum told her to weed all the allotment and gave her a £5 for it.if you work out what you spend on them in amonth it is quiet surprising it is better for them to have it and budget with it.

Iona_Penny

My just 15 yr old daughter gets £20 a month pocket money and has done for a couple of years. Out of this she keeps credit on her pay- as -you -go mobile and pays for her socialising etc. I buy toiletries and school needs, but make-up , tickets ( she likes to go to concerts ) and most clothes she pays for herself. This £20 I pay into her Nat West account and she can access it via her cashcard, sometimes she asks me to pay £5 of it into her building society account to save for larger items.

She also has a weekly paper round earning an average of £12 per week, but as she is going on a month long trip to Peru next year all this is saved towards the cost. Sometimes in the holidays I will give her an extra £5 towards bus fares if she is out and about, as they eat into her budget, but she never asks for more. She saves 20p coins, and quite honestly is financially very good at budgeting.
Treated son the same but at 18 he is still hopeless with his money ie never has any!

angelatgraceland

Now its my turn to feel mean. when my son was 15 he got £3 per wek. We paid him extra for jobs he did-mowing the lawn, walking the dog etc. He did now and then double the money. I paid for absolutely everything for him, and if he was saving for something and couldnt reach the target,I would help him out at the end.He now has a part time job, is staring college, and I am still giving him the £3 per week-this I will pay into an account for him tho. Birthday money from relatives always went into savigs and when he waanted his PS2 he was able to just go out and buy it. He has never been greedy, never wanted what he hasnt earned and couldnt wait to work. He handles money well and is saving for a new computer. I will probable get it for him and he will pay me back. I know I can trust him, he doesnt expect anything for nothing and I think I have been sucessful generally. As far as chores go-I teach my children that each of us are responsible for our own areas(bedrooms)bringing down our washing and tidying up after whatever we do as individuals. I am happy as a parent, to do the rest. So the extra chores, are the ones which dont concern his own space.