How much should I be spending on my daughter?

Pont

I let my teenagers see my salary slips and the bills that come in (per week, per month and per year). From this info they did the sums to see 'what is spare'. It wasn't difficult for them to work out there wasn't a whole lot left over. Neither now ask for 'I needs', and neither get anything like the money their friends seem to get. However, perhaps (hopefully) my two will be better than many of their friends when it comes to money management in the future.

DD1 (17) pays for most of her own extras (phone, clothes, tickets etc) out of her part time job earnings. I slip both of DDs £10 or £20 each, as and when I have some 'spare'. DD2 (14) rarely bothers with her phone as she can't afford the topups. In a strange way she has made it kind of trendy in her circle of friends not to carry a phone everywhere.

DD1 (a few years ago) did suggest that she should get her portion of child benefit - about £15 a week. I told her that of course she can have it so long as she pays a third of the gas, electricity, water, phone, food bills that come into our household. She soon quit that argument!

notsayingaword

My son is 14 next month and gets nothing from me. He used to get £3 a week pocket money until he got himself two paper rounds last summer and now earns £22 a week. Initially he had one round earning £10 a week and I paid for his mobile top up (£10 a month). Since getting the two rounds he pays for his own credit so is careful about how much he uses. I buy his clothes for him but if there's anything special he wants then he buys it himself. The only thing I do pay out for is his contact lenses each month but I claim 75% of this back through a cash health plan so it doesn't really cost me much. Also at Xmas he made over £70 in tips so he doesn't do too badly.

Your daughter is old enough to do a Saturday job and earn her own money. It is a good life lesson for budgeting if she only gets to spend what she earns and will hopefully make her appreciate money more.

shiningdove

I actually had enough at the age of 14 of sponging off my parents.
I decided that i'd get myself a job asap and took one working in a fruit and veg shop.
I worked after school and also at the weekend. It not only meant i had my own money but i also had less to pay for as i was working :P.
I met some good people there and had so much satisfaction that i was earning my own money. It was so rewarding that at the end of a month i had earnt roughly about £250.

RoxieW

I also had a job in a greengrocers lol! I started at age 14 and would do Saturdays and holidays. it was boring but at least I had my own money. The £20 I got for a shift seemed like a fortune! Before that I used to babysit.
From being a teen I would buy everything for myself unless I got it for a xmas present or saved up my birthday money.

RoxieW

notsayingaword wrote: »

My son is 14 next month and gets nothing from me. He used to get £3 a week pocket money until he got himself two paper rounds last summer and now earns £22 a week. Initially he had one round earning £10 a week and I paid for his mobile top up (£10 a month). Since getting the two rounds he pays for his own credit so is careful about how much he uses. I buy his clothes for him but if there's anything special he wants then he buys it himself. The only thing I do pay out for is his contact lenses each month but I claim 75% of this back through a cash health plan so it doesn't really cost me much. Also at Xmas he made over £70 in tips so he doesn't do too badly.

Your daughter is old enough to do a Saturday job and earn her own money. It is a good life lesson for budgeting if she only gets to spend what she earns and will hopefully make her appreciate money more.

sorry to go off topic but what cash health plan do u have? I use contacts and have other medical issues so am interested in this? Thanks

shiningdove

RoxieW wrote: »

I also had a job in a greengrocers lol! I started at age 14 and would do Saturdays and holidays. it was boring but at least I had my own money. The £20 I got for a shift seemed like a fortune! Before that I used to babysit.
From being a teen I would buy everything for myself unless I got it for a xmas present or saved up my birthday money.

i got like £3 something an hour and that was also a fortune when it all added up.
Hmm.. shame my money doesn't nowadays with the council tax.. rent...bills etc :ll

diddyangel

Soon after I started senior school my mum used to transfer her child benefit to my account every month. It was £40 at first but by the time I was 16 it was £50 (10 years ago). I had to use that to budget for the month. I would sometimes get extra but generally had to budget and if I ran out then it was tough!! Taught me a valuable lesson on living within my means and I have never been in debt my entire life, except for a mortgage of course and a car loan (I did have enough cash to buy the car but got intrest free car loan so kept my cash in saving account - very MSE!!). I used to get clothes/shoes/trainers for Christmas, birthday, Easter presents and my mum would buy me things if I really needed something. My mum would buy my toiletries with the weekly shop but only things like shampoo, deodorant, hairspray, tampons etc... but make up I had to buy myself although I often got this off friends/family as presents for birthday/christmas.

At 16 I also got a part time job, which was full time during school holidays. This was to supplement my monthly allowance from my parents and from then on I was completely reliant on my own finances.

I think you should work out what you can afford in a month and set her an allowance. Once its gone its gone - if she wants/needs more she can get a job. Its how things will be when she is older if you want her to avoid debt. Let her learn to live within her means now and it will set her up for life - hopefully!!

rainbow81

Hi

Forgive me for saying but it doesn't really seem fair on your son to be part-funding your daughter's lifestyle. I wonder how he feels watching some of his wages going on mobile top ups or make up.

Everyone's said it really, she should get a little job for all the extras. However, I don't think an allowance is a bad thing in addition to that, whatever you can afford or deem acceptable, and stick to it.

I got a grand old £5 a week at that age while I remember a friend getting all her child benefit, I was SO jealous! But then I got a job, it was simple. I cleaned my nan's flat every week for another £5. I did some household things at home just because I was expected to contribute to the household (washing up after sunday lunch - yuk!).

I hope you find something that fits your budget!

diddyangel

shiningdove wrote: »

i got like £3 something an hour and that was also a fortune when it all added up.
Hmm.. shame my money doesn't nowadays with the council tax.. rent...bills etc :ll

My first job was in high street shop and at 16 I was paid £2.88ph!!! Absolutely shocking considering the 16 year olds where I work get around £6.50/£7ph and think they are hard done by :eek:

DaisyFlower

How does your son feel about all this as it seems like he never had this amount spent on him? Inequality in siblings can lead to a lifetime of resentment.

At 16, I had a part time job in a supermarket and babysat 3 nights a week at least, never affected my studies and gave me a great work ethic. Also made me very aware of budgeting.

My DS is still young but when he reaches high school age I intend to give him an allowance so that he learns to budget and save etc.