Pocket money (merged)

juliedotcom

At 8 years old I got £5 a week for making my bed, feeding the dog and emptying/filling up the dishwasher. It was mine to spend however I wanted, but I was made aware that if I wanted something which was more expensive than what I had, then I had to save for it, which I wasn't very good at.

Dad also had a racket going on where he'd loan me money for the more expensive things I wanted in return for his chores, or at 5% interest paid back!

building_with_lego

Kimberley82 wrote: »

I am thinking £5 a week for my children they are 7 and 8

That strikes me as a lot too- how will you factor in rises?!

DD is seven and has had £1 per week for about a year. I like the idea of a monthly pound- per- year deal as I've been wondering about when to start DS (3) on pocket money. I'm quite keen to get DD a bank account for her pocket money but OH thinks it's a BAD idea. *Shruggy shoulders smiley anyone?!*
As regards encouraging saving: I made a little chart on Word, called it a Money-ometer, filled in the prices of several items DD had her eye on and laminated it. She can colour in the boxes to indicate how much she's got, and the box for £25 says "if you get to here I'll double it!". (Luckily so far she seems to get to around £15 before she finds something she simply can't live without, so I've not had to double anything so far. I'm cheered by the fact that she has no plans to splash the cash if she gets to £25 and thence £50- she just wants to do it! :T)

Owain_Moneysaver

juliedotcom wrote: »

Dad also had a racket going on where he'd loan me money for the more expensive things I wanted in return for his chores, or at 5% interest paid back!

I had the opposite racket - if mum was a bit skint come Saturday then she could hold off paying me until Mon but a premium was charged!

Kikik_2

Well I give my daughter who is 10 and turning 11 soon gets 25 dollars a month. In 1 month she will soon get 32 dollars a month. Because she is 13 she should get 50 dollars a month. You are being to harsh. I also buy all that she needs like clothes and toiletries. Rethink your 13 year old daughter's pocket money.