Spending money for a 5 year old??

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Comments

  • stapeley
    stapeley Posts: 2,315 Forumite
    How can anyone expect a child to survive if has no money for alcohol and drugs . That's not to mention the extortion money needed to escape the bullies of the playground . I suppose we could always lower the age limit of credit cards .
  • immoral_angeluk
    immoral_angeluk Posts: 24,506 Forumite
    Combo Breaker First Post
    Ash doesn't have pocket money.. but any 1,2 or 5p we end up with we give to her for her piggy (Which is the gold piggy we got for being on It Pays to Watch!). Everytime she gets one she gets really excited that she's got pennies for piggy ad it's getting REALLY heavy I may need to bank it for her soon.
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • poppyg_2
    poppyg_2 Posts: 322 Forumite
    Stapeley - you ok today? Something seems to have rattled your cage!

    I have no kids of my own but I think this is a really interesting thread, there has been some great advice on here regarding getting kids to do chores in exchange for some pocket money, definitely a good lesson in life. x
    Money doesn't make you happy so I'm skint but cheerful :beer:
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    First Post First Anniversary
    Ha. In my house we never had sweets till now because I moaned when coming back from uni (when I did my shopping I always bought choc bars!).

    I got pocket money when I was 11/12, when I went to secondary school I think. Can't remember how much. But it stopped when I turned 16. I had a job by then and was getting EMA so it wasn't too bad.

    But 5? Nah, too young.
  • Stardust77
    Stardust77 Posts: 61 Forumite
    I've got 2 kids, 8 & 5, and both get pocket money. Not much, the oldest gets £1 and the youngest 50p. The money is reduced if they're naughty during the week. Both love counting the contents of their piggy banks and choosing toys/Dvd's/Nintendo games to save for.

    Any birthday money goes straight in to their bank accounts so they don't get to see it but I do think it's important for kids to realise money for nice things must be saved up. For a long while when I was buying all their treats and toys they both seemed to think money grew on trees!Now they're a little bit more aware.

    The only problem is my sons got it in to his head that he's going to save for a trip to Florida!!! Hmmmm 4000 weeks at £1 a pop = 77 years later!!
  • poppyg_2
    poppyg_2 Posts: 322 Forumite
    Stardust77 wrote: »

    The only problem is my sons got it in to his head that he's going to save for a trip to Florida!!! Hmmmm 4000 weeks at £1 a pop = 77 years later!!

    Awww that's so cute!! :D
    Money doesn't make you happy so I'm skint but cheerful :beer:
  • sweetpeas_2
    sweetpeas_2 Posts: 2,237 Forumite
    stardust that is so sweet.maybe he wont need £4000, he might not be planning on taking you and his brothers/sisters, he might just want to go on his own so he'll only need to save £1000 ;):D
  • EmptyPurse
    EmptyPurse Posts: 198 Forumite
    The trouble with paying children to do chores is that there's a risk they don't learn the value of contributing to a job in order to improve everyone's lives. I've seen children refuse to take Mum a cup of tea when she's ill in bed unless they're paid extra. That just wouldn't have happened when I was at home. We were expected to help with the housework because we lived there, we helped to create the mess and we benefitted from a tidy house. Expectations were graded on age; after all, if you're bigger it's easier to do some jobs and you also have more time to do the jobs because you stay up later. But everyone had to pull their weight - my parents included. And yes, that sometimes meant Dad doing the ironing or pegging out the washing (although he never did get the hang of 'one dots' - too easy to burn!!!)
  • stapeley
    stapeley Posts: 2,315 Forumite
    poppyg wrote: »
    Stapeley - you ok today? Something seems to have rattled your cage!

    I have no kids of my own but I think this is a really interesting thread, there has been some great advice on here regarding getting kids to do chores in exchange for some pocket money, definitely a good lesson in life. x
    Today's kids are being taught everything can be given a valve , instead of encouraging them to be helpful out of the goodness of their hearts
  • marmitegirl
    marmitegirl Posts: 15 Forumite
    have just started my 5 yr old with pocket money and she has already realised if she spends it as she gets it then its gone so this was her 2nd week of pocket money and she has saved it. Also started her on a bigger chore alongside helping to tidy, one i really loathe - emptying the cutlery basket out of dishwasher !I think its great lesson for them to learn .
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