Pocket Money for 12 and 16 year old

System

i'm starting to think the £5 a week i got made me hard done by! :eek: that said i got that till i was 18

theoretica

I think it depends on the child. Some are responsible enough that being given lunch money, bus fares, clothing allowance etc in a termly lump will work, some will need more help. But think ahead to when they go off to university - you really want to have worked up to them running their own budgets by then and learning/practising at home is a safe way to do this.

balletshoes

Nadstar wrote: »

But that is my point, £70 would only just be enough to cover her various clubs and lunch at school - I I want her to be able to budget for clubs/lunches (As well as clothes/bathroom bits) then I need to give her enough to cover it. No point in me giving her £20 then telling her to pay for clubs and lunch knowing that she will need at least another £50 to do so -
Someone commented above that they made a list with who would pay for what - a really good idea - Presumably they made sure it was do-able when they decided what they gave their child.

It is the same debate as "What should my child pay in rent" - Too many variables in standards and circumstance for there to actually be an answer

thats what I did with my DD when she started getting a monthly allowance (at the start of this year, she has just turned 13).
She gets just about the equivalent of the CHB, she pays half her monthly mobile top-ups and she asked for Netflix, so she pays for that too. If she doesn't want to use the toiletries etc I buy for the house, she buys her own. I don't buy her any clothes unless they are for school or unless they are basics which she has outgrown. She is responsible for budgeting for xmas and birthday pressies for her friends through the year from her allowance, and any days out etc with her friends, she has to pay for out of her allowance. I pay for her out-of-school clubs and I pay her school lunch money up to a certain amount.

So far, its working well, she isn't saving a lot of it, but she's also well aware that when her allowance is gone for the month, thats it, no more money til next month.

Its definitely saved me money, because I'm no longer spending money picking up this and that for her when she's in town with me - if she wants it, she pays for it. I'm also not asked for a tenner here and there so she can go skating or swimming with her friends - because she has to pay for that from her allowance.

Seanymph

It was my list of who did what - and it was arrived at by initial discussion, then lots of reviews.

But ultimately the kids would ask for something and say 'who would pay for it me or you?' all in one sentence.

balletshoes we did the same as you - I bought certain deodorants and things for the bathroom (right guard, sure type brands) but didn't stretch to Lynx for the teenage boys....... if they wanted lynx they bought it! (they got lots of sets for christmas usually).

So we did make a list - but reviewed it until we found something tht wroked, and we set the money low enough to encourage them to work - but high enough that they could at least function.

It caused a lot of wailing when their friends were shopping in Hollister and Superdry, but christmas stockings were a good place for clothing then - and now I have kids who are not label driven (in fact eldest daughter has a real charity shop/ebay habit)...

I think it stood them in good stead as they grew up - they all work, four of the five are good at budgeting - the two at university even take packed lunch rather than eat out - and they both still run cars which none of their friends have managed.

I think they really learned budgeting and value through it.

I have to say though it was never ever attached to chores. I expected them to do chores anyway!

balletshoes

Seanymph your way was my template when I was setting it up with my daughter . Her allowance is not reliant on doing chores or doing her best at school etc - I expect and encourage her to do both of those anyway.

Seanymph

I have certainly posted it many times now......

Buzzybee90

emsywoo123 wrote: »

Wait, why nothing for the 16 year old?!

Yes, as Daisy said, at 16 they are old enough for a part time job so should then buy things themselves.

Indie_Kid

Buzzybee90 wrote: »

Yes, as Daisy said, at 16 they are old enough for a part time job so should then buy things themselves.

What happens if the 16 year old can't find a part time job?

Seanymph

I stopped when they left secondary education.

because we had 5 kids we had to make absolute predictable rules that we could implement for all of them.

Buzzybee90

Indie_Kid wrote: »

What happens if the 16 year old can't find a part time job?

If they were trying and maybe lived in a competitive area then they could have something but everyone when I was 16 had one. I think mine stopped at 16 but I didn't get my job until I was 16 1/2 as I had exams, I think it was a nominal amount like £2/ week but we weren't really a pocket money family.