Pocketmoney Discussion Thread

Loopy_Lobes

Depends how old she is. Mine don't get much pocket money as they rarely go out alone so it's just a bit of something in their pockets really and a little something that they can save if they like. They're both pretty good at saving up but sometimes will splurge the lot on sweets - it's all a learning curve! My 13 year old gets £2 a week and my 10 year old gets £1.50.

Errata

As well as age and what she will have to buy with it that you won't, what will she be doing to earn it ? Other factors to consider is household income and what currently is the going rate for her circle of friends.

anonymousie

Here the rate is 20p per year of age per week, so not much, but it is pure "fritter" do anything you like with money.

We have deliberately not got into the "chores for money" game that is often suggested. I feel strongly that you help at homes as part of the rights and resonsibilities of being a member of the family- we all pull together to get the "unit to function". Consequences of not "doing your bit" are generally fairly easy to see from quite young- eg if I pick my stuff up mum has time to do a story, if not she is cross and frazzled and I don't get one. Now it is (especially with my 9yr old who loves to cook) things like- you do the carrots and broccoli and we can eat 30 mins earlier than if mum had to do it all!

It works fine for us- I buy all the necessities etc, though now they are teens, if they want brands etc then I have said I will pay so much towards an adequate item eg pair of trainers, and they can pay the extra.

Worked in reverse though and to DS benefit recently- I had a £30 budget for trainers and footy boots for school in mind- sports soccer (yuk, hate it really!) provided both for £21 total:T So, as a treat I picked up a pair of the Vans he'd been yearning for when I saw them for £11 in a closing down sale:T - fortunately he isn't very discerning about what style- just that they were Vans was OK for now:rotfl: .

BTW the elder 2 earn quite good money any way (that goes into an account and they could spend it, but usually save it) so they aren't totally skint!

lostinrates

When I started getting pocet money it was in return for chores. This has been a wonderful gift in life. I suggest you 'reward' agreed contribution with agreed 'wage' and stick to it!

foreversomeday

I think a good solution to the chores for money debate is to have a base pocket money rate which is paid regardless, a list of chores which have to be completed, with a different penalty to a monetary one if they are not done, and an opportunity to earn extra money by doing extra chores.

If children have to earn their pocket money they may well see it as a choice rather than a payment - ie they can choose not to do the chores, if they are happy with no money. In most families this isn't practical and probably isn't the message you want to teach your children!

billysmum

Hi, i have 4 children and the 14 year old gets £40. a month, the others will get £30. a month when they reach 13, then £10. a month extra per year ,
Lisa

Threebabes

DD2 who is 4 gets £5, DD1 who is 8 gets £10, DS who is nearly 13 gets £15.

DS saves his up for games, we buy sweets. DD2 ususally buys toys this month its playdoh. DD1 is never in a hurry to spend hers and has £30 at the minute.

If DS was going out with friends, cinema etc we would give him the money.

frasersmum123

My DS is 7 and gets £5 a month, but he isnt a great spender and so he normally ends up saving it up for DS games.

My other DS is 2 and we dont give him the money, we save it in a bank account and he will be able to start using the money himself when he is 5 (£5 a month).

Purple_Sparkles

My DS is 10 and gets £3 per week that goes straight into his bank account and a further £2 that he can spend of whatever he likes.

He is very good with his money though and does think about if he really wants to spend it and 9/10 he'll put the money back in his pocket for another day.

I think it's important for kids to learn to budget from an early age.

stef240377

Up until my partner moved in 2 years ago i didn't give the kids pocket money as we simply could not afford it on top of all the other out goings.

Now he lives with us he gives them £5 a week as they are aged 13, 12 and 11. For this though they must keep their rooms in good order and keep their behaviour in line, on top of this my 13yo has a paper round which has varying rates every week depending how many leaflets ontop she has to deliver. If she is feeling generous she will ask her brothers to help her and split the money equally. They then use this money to pay for a trip to the local pool or bogof wednesdays at the cinema. I refuse to pay out for these as i contribute to their out of school activities already. 11yo has a life saving course, 12 yo has hockey and badminton clubs and 13yo has swimming and army cadets.