Pocket money (merged)

*Louise*

My boys are 10 and 4

Eldest gets money for doing chores - he will tidy up, hoover the stairs, etc

The younger one sees his brother with 'pennies' and obviously wants some himself

I tend to give him the odd 10 or 20p for doing little jobs - tidying away toys etc. That way he can save his pennies then he buys himself a toy car when he has £1 - elder brother spends his on books or the current trend is the Top Gear cards.

Then they are both happy.

basil1998

my daughter is 11 i dont give her money she is the only one so if she wants a mag or some thing i get it her

Spendless

Hi, my 2 are 9 and 6 (10 and 7 in March). I started pocket money on New Years Eve, more because I want the older one to understand some money lessons before moving to secondary school!
Mine are getting a monthly amount. £1 per year of their age, payable on the last working day of the month (hubby's pay day - I don't work) with a pay rise on their birthdays.
Their 1st lot of pocket money they got burned a hole in their pocket. Mad for club penguin stuff they bought a toy in the Disney shop (half price sale), which I was happy with then they wanted to buy a 2nd full price. I asked them to think it over, took them for lunch whilst they did - they still persisted so I let them and then of course they have been skint for the rest of January, unable to buy a Dr who comic, or club penguin trading cards etc, as I've refused each request and in the middle of the month I asked eldest if he regretted blowing his money at once and he said yes, it was just he was excited. Hopefully that experience is more valuable than me trying to tell him.
They got their money again this w/end, the youngest had to pay her brother back for the money she'd borrowed (to buy the 2nd toy) but hasn't touched the remainder. Eldest has spent some but kept a good proportion back.

littleredhen

mine are 9 and 12 and we have had lots of attempts at pocket money - firstly they were to do chores and we listed what these were and how much they were worth - that lasted a week - i wanted them to do chores as i feel they should but also gain some responsibility for money - anyway next was chores anyway for no money - not much incentive i know but they were told if they didn't do the chores then i would stop them going to all the after school stuff that we pay for. so we have been back and forth with these ideas and they do not seem interested in earning money although older one has been told that for a trip she wants to go on for a weekend with one of her groups she has to earn the £50 it costs to send her and also there is another trip later on in the year that will cost £80 and she also has to earn money for that by doing chores - one of the problems is that my m-i-l gives them a large amount of money at Christmas time and it goes in their bank accounts and they know its there so if they want something they take it out of that so not much incentive to work for it iyswim. i am not against my m-i-l doing this as she says she doesn't want to leave the money for when she's gone - i think she likes to see/hear what they are buying but it does cause a problem in earning money - i am waffling and not much help i think!

patchwork_cat

I have given mine pocket money since they were about 4. First gave them cash and when they turn 11 a credit to their bank accounts.They have expresscash accounts from the Halifax and can use their visa electron cards just like cash cards and in shops. They also have online banking.

They don't do chores for their money. They will unload the dishwasher , tidy up and generally help around when asked - mostly they do it with good grace! Cutting the grass and walking the dog aren't conducted with quite teh same good grace - I only ask my DS to do them, funny how they create teh most arguments!! My DD wants to walk the dog, but she is too light!

mummy2mygirls

Thank you for your replys. I try to get the girls to do a little to help anyway - like put toys away and lay table/put plats away. They are too keen to help with the cleaning and 'trying' to polish and hoover etc that i wouldnt want it to be paid for how much they do as it would cost a fortune as they would try and do even more (Which cost a fortune in polish as it is )

I have said we should also tell them if they are very naughty and had warnings etc it will go down by 10p each time etc. (dd1 loves money at the moe and saving it in her money tin so would be soooo upset to lose any)

I think im going to give it a try any way can always stop it if its not working... think a £1 for dd1 and what ever i have for dd2 .

beccam

DD is 4 and we have just started a kind of pocket money thing but she has to earn her money!

She's saving up to buy clothes for her build a bear so her Nana gives her £1 on a Saturday and that is instead of getting treats/sweets when she's at Nanas house.
I gave her 20p tonight as shes been a really good girl all week, ate all her meals, gone to bed with no arguments and has had no time out/naughty step PLUS she helped me tidy up and clean and helped her daddy hang out clothes.

It does however work in reverse too as she will loose money from her piggy bank for bad behaviour.

Spendless

mummy2mygirls wrote: »

I have said we should also tell them if they are very naughty and had warnings etc it will go down by 10p each time etc. (dd1 loves money at the moe and saving it in her money tin so would be soooo upset to lose any).

We are starting with this too. We didn't start with it straight away as we wanted the kids to get used to (and liking) having their own money rather than not missing what they've never had.;)

mummy2mygirls

Ah thats a good point - maybe not take any for a few weeks and then it will seem even worse when/if i had to take some..... ..

strawberry_laces

I give my 2 eldest children (9 and 12 ) pocket money but they have to do chores -no chores = no pay (I tell them that I and their dad have to work for our money) the eldest has to walk the dog daily , literally round the block but for an hour on weekends and keep his room tidy.
The second eldest has to lay the table each night, take washing upstairs, polish once a week and make his bed daily.