Pocket Money - How Much

my_gorgeous_ellie-belle

My DD gets £5 a week (she is 3) BUT before anyone has a whinge about it being alot - she physically gets the money, is then allowed to chose one thing from the shop be it a sweet or a magazine, one not both, then the rest goes in her bank which she takes great delight in paying in weekly. She only gets her money if she has been good, put her toys away, ate dinner, etc etc (usually just that day though as the whole week is a long time to comprehend at 3 and is less effective otherwise)!

She is saving her pocket money as spending money for when we go to Disneyland next year so even though she is just 3 she has a goal. She tells the cashier every week that she is saving for Disneyland when they remark to her that she is a ''lucky girl'' or has ''more money than me'' in a jokey way. They all seem impressed, lol!

I think it depends on what it is going to be spent on - if YOU buy them things like sweets or magazines during the week then they only need a tiny bit of pocket money, ie £1 or £2 a week. But if you want them to learn how to spend and save wisely i think a little bit more is good, so they can save and spend and realise things have a value (give them a goal to save for, i think when they are young that is always a good incentive)!

She also gets £20 a month into a lockaway account but she has no knowledge of that - that is where part of her clothing allowance comes from and general saving for her future.

my_gorgeous_ellie-belle

I rember when i was a kid, Dandy and Beano were about 40p (very early 90's). Now sadly it seems the cheapest kiddie magazines are £1.99 :eek:

Also a pack of smarties were 25p, now they are 45p And penny sweets really were a penny, 20p used to mean plenty of sweets. We went to the shop just the other day and they had some 'penny' sweets, the cheapest thing was those pink shrimps and they were 5p each. It is nuts how much things have gone up in price. And i am only 24 which is even more scary!!!

On the same note - i think anything above £10 a week for any child or teenager is OTT, even in this day and age, unless it is to include clothing/bus fares/dinner money, etc! And i'd advocate that 'work' needs to be done around the house in order to get the full amount or any of it just so they learn to earn

shiningdove

I've never recived money from my parents growing up (me only being 19 now),
its the same for my partner.. we've spent most of our growing up time earning.
He started doing audio work with his dads friend and would get some money for helping him, then brought a disco set up from that money and earned quite a bit from there on.
I did various jobs for other people, mowing lawns, feeding cats etc, until i got my first job at the age of 11, and from there on have worked.

We recived the things we needed from are parents apart from xmas/birthday were we got what we wanted.

kindofagilr

I must say I am 28 now (brother is 29) and our aunty betsy (whos is 86) gives us £2.50 pocket money a week still lol

She gives it to mam who puts it in bank and we use it at christmas

JOANNESAPHINE

I voted for £2. I put phone credit of £15 a month, when I get paid, on my 12 year old daughter's mobile phone. She is very fortunate as my parents give her pocket money too as she is their only grandchild and this she saves up for DS games, cds etc. I buy all her clothes and other things. I read somewhere that it is a good idea to encourage children to split their pocket money in half and put half away to save and have half in a purse to spend to encourage saving when they are young which sounds like a fab idea to me.

bluekaw

Well im quite amazed at the response i have gotten to this question, quite enlighting really, have agree a deal £1 for the eldest 50p for the youngest, on the condition there room is to be kept tidy and is tidy on a saturday when they get there pocket money

then thats another question, what day do they get given there pocket money, wouldn't of thought it matters but interesting thought

shazrobo

my sons get there's on a saturday, usually the day they seem to need it

mintymoneysaver

From the age of 7 our children got 50p a week, going up to £1 at 9. They saved it for holidays, DVDs etc as we bought everything else ( magazines, clothes, presents for friends etc) Once they started secondary school it went to £15 a month but they have to buy all their friends presents, trips to cinema etc. Then it goes up to £20 in Year 9. Have just opened a bank account with debit card for the 15 year old and will be putting £40 a month in there on the strict proviso that I am only buying clothes for Christmas and birthdays now, she has to provide everything else for herself!
She plans on looking for a job in the summer after her GCSEs and pocket money will then stop! I do pay £15 a month for phones too.

Claire3121

peachyprice wrote: »

How much :eek:

My 15yo's get £15 per month paid into their bank accounts, I pay their phones but being boys £5 top up last months.

My 15 yr old gets an allowance of £150 a month,of which he buys clothes,school dinners,socialising etc. The only things he doesn't get out of that money is school clothes and shoes.

lorietta

When I was eight I think I got about £1 a week, plus a bit of extra spending money when I saw my granparents. From when I went to senior school until I moved to uni I got £10 a week, but all bus fairs, any food I wanted during the day ect. had to come out of this and I was expected to suplement this with my own earnings if I wanted to go out at the weekend, buy clothes ect.

I got given my money on sunday evening so I had to make it last all week, if I wanted any left over for saturday when I was younger. Although once I got my first job I was paid cash in hand on saturdays so this didn't really work anymore.