Pocket money (merged)

rainbow81

Hi

My son brought up pocket money the other day so I assume he's heard about it from school. So I have decided that I will give him £1 a week (he is 6) and he can save it up or spend it on rubbish as he sees fit. He asked what he could buy and I gave him a few suggestions (Spongebob DVD, etc) and he was ever so excited.

I don't give him money for chores as I think as part of the household he needs to learn that he has jobs to do to help it run smoothly. I don't get paid to do the washing and nor will he when he's an adult. I'm not a slave driver by any means but I am keeping the behaviour completely separate from the pocket money at this stage.

R

shazrobo

i expect my boys to do their bit regarding housework, moving clean washing, drying the dishes etc, but it is unrelated to pocket money.
as far as i am concerned pocket money is for good behavior, been respectful of others, and not copying bad language learnt outside the home. if they fail, then they are fined a small amount dependint how bad, the bad behaviour is

Money_maker

shazrobo wrote: »

they fail, then they are fined a small amount dependint how bad, the bad behaviour is

Thats what I do with mine. They only get a small amount of pocket money but you do have the right to 'fine' them and this can be earned back by extra good behaviour / helping out etc. as you see fit.

TBH, I started pocket money as the weekly/bi monthly magazines were starting to cost a fortune. Along with sweets once a week. Now they're older, they tend to save up for books, dvd's or games.

Mind you, they still cost for clubs, uniforms for clubs, sports, music, mobiles etc. etc!

stormbreaker

Mine are now 18 and 15 and they have never had pocket money. There were always sweets in the house and they got one after lunch and dinner providing they behaved. Any money for clubs etc. I paid for. I never encouraged buying sweets or magazines whilst out. Both were fortunate to get a job locally at 14 which did not interfere with their education or sport/social life. What they earn is theirs to spend as they please although they sometimes needed guidance and at times still do!
Since starting work, my youngest has bought a laptop,Xbox 360, Nintendo Ds and a TV for his room which is better than the one in the livingroom! and much much more.
IMO they don't need pocket money whilst at primary school.

Threebabes

My 3 get pocket money, my son who is 14 gets £20 a month, DD1 who is 9 gets £15 a month and DD2 who is 6 gets £10. At the end of the month when DS gets paid (I dont work) they get it. Two older ones are good at saving up for stuff but the little one she likes to get it spent. Pocket money has worked out really well for us. We had been only giving it to the older two but it was working out every time we went to the shops DD2 had no money so we were buying her stuff. Tney dont really buy sweets with their pocket money I do buy them sweets maybe couple of times a week. If they want a magazine mostly the 6 yr old, she would have to use her own money.

MCMitten

Like some of the other threads, my DS (age 9) earns money by doing chores. He loves it!! :j
He loves saving up his money- he now has 3 money boxes! When the teacher asked him what he thought he would like to be when he was older, he replied 'Rich' :rotfl:
I think some kids are more aware of the value of money than others- I think it's finding out what works best for yours, whether that is by doing chores or a weekly/monthly allowance. I have to say the 'chores' approach seems to work well all round- the kids get to earn their pocket money and apreciate it more and you get a bit of help round the house!!:T
It doesn't have to be 'hard labour' even if they just pick up their toys or keep their rooms tidy. Your 3 year old can do a bit of dusting, you'll probably find she loves it- being all grown up like mummy.
Good luck with converting your DH cause I totally agree with you that kids should start learning the value of money ASAP!!

atwitsend_2

michele_stewart wrote: »

When the teacher asked him what he thought he would like to be when he was older, he replied 'Rich' :rotfl:

When I was a child, anytime someone asked what I wanted to do when I was older, I would always reply 'marry a rich man' :rotfl:

I have thought about pocket money for my children, my DS has autism and adhd and I am not sure he could grasp the concept though....although thinking about it, surely its good to get him to learn sooner about money so its not a big shock when he is older....off to ponder this :j

mummy2mygirls

Thanks for your replies. I am going to work on DH today and start it from this weekend and they can then do with it what they want.....
I think it makes sense - esp with the 6 yr old - they always want something or other and i often say no but then she can make her own mind up about what she would like. She will also get money if she gets a good school report etc and when the tooth fairy comes so she can save up for things if she wants a toy etc....

MCMitten

atwitsend wrote: »

When I was a child, anytime someone asked what I wanted to do when I was older, I would always reply 'marry a rich man' :rotfl:

I have thought about pocket money for my children, my DS has autism and adhd and I am not sure he could grasp the concept though....although thinking about it, surely its good to get him to learn sooner about money so its not a big shock when he is older....off to ponder this :j

My son also has ADHD and mild Autism- it's amazing the things they can take to and be amazing at. Money is one of them with my son (along with lego!!!) Give it a go- you never know he might be a brilliant money expert!!! XX

Rachel85

I don't have children, but if I do I plan to give pocket money from a young age. I think it's good to teach children about choices. You're only talking about a small amount of money, but to your children it will enable them to start making decisions for themselves and this will stand them in good stead in life. So they can decide whether to buy sweets every week or save for a comic etc.

Perhaps you could link it to a small 'chore' such as putting their toys away or the older one making her bed? That way you could say that so long as the've done those things all week they'll get their pocket money on a Saturday?