How much pocket money do you give your child?

[blush09]

my daughter is 10 in may, and id like to start giving her pocket money or some sort of allowance so that she can learn to manage her money

just wandered what what others gave their kids, and if they had to do any jobs etc .. in return

many thanks
blush09

 

[glitz]

My daughter was 10 in Feb and she was asking for pocket money. So we worked out a schedule for her she will get 50p for unloading & loading the dishwasher on a daily basis, and £1.50 on a Saturday for dusting the lounge and the leather sofa`s. If she manages to do all this she gets £5 but she had to do it all. With this £5 if there is anything she wants we take her to town to buy it but as most things she wants are more than £5 she generally has to save it. If she hasn`t bought anything at the end of the month we take her to the bank and she pays it into her account. She only spent £8 last month and the rest went into her account. She has to keep her bedroom tidy and her things left lying around put away this is her responsibility and not a job.

 

[Tracey Roberts]

We've given our kids pocket money since they were about 5, they are 8 n 13, they both have £5 pr wk, my youngest is a saver while my boy saves for a while then spends it lol.
I offer money for jobs, but they wont, esp my lad, he's a lazy sod , but my girl is quite helpful bless her:hug:

 

[Tracey Roberts]

My daughter was 10 in Feb and she was asking for pocket money. So we worked out a schedule for her she will get 50p for unloading & loading the dishwasher on a daily basis, and £1.50 on a Saturday for dusting the lounge and the leather sofa`s. If she manages to do all this she gets £5 but she had to do it all. With this £5 if there is anything she wants we take her to town to buy it but as most things she wants are more than £5 she generally has to save it. If she hasen`t bought anything at the end of the month we take her to the bank and she pays it into her account. She only spent £8 last month and the rest went into her account. She has to keep her bedroom tidy and her things left lying around put away this is her responsibility and not a job.

I think I ought to take a leaf out of your book:hug: get them earning it, yep I've decided now lol, omg what a shock to them

 

[blush09]

i was thinking about just giving a smallish amt £2.50 a week and a £10 bonus paid into her account once a month if she had done her jobs etc .. but my husband seems to think that she would feel £2.50 is not a good enough incentive for her to do the jobs and its such a small amt she would probably waste in on sweets anyway

perhaps im just better off giving her £5 a week as you've sugested and its up to her to bank anything she saves

i also plan to buy her a mob phone next year when she starts secondary school, but think it only fair that i pay for the credit. will probably pay £10 for her a month and if she wants any more she has to save top it up herself

 

[angelina221]

I have 2 girls 11 and 16. They get £5 each a week from us and then my dad gives them £5 each a week too. They have to keep their bedrooms tidy, empty the bins, sort the recycling and help with the washing. My elder daughter has her own bank account and she saves for when she needs something. My younger daughter is a bit more frivolous but she will save if there's somthing she really wants and they've always got more money than me :irked:

 

[glitz]

i was thinking about just giving a smallish amt £2.50 a week and a £10 bonus paid into her account once a month if she had done her jobs etc .. but my husband seems to think that she would feel £2.50 is not a good enough incentive for her to do the jobs and its such a small amt she would probably waste in on sweets anyway

Maybe start her off at this with the proviso that if it works and she keeps her end of the deal in say 2 months you will up it.

perhaps im just better off giving her £5 a week as you've sugested and its up to her to bank anything she saves

If you are giving her £5 I would insist she saves some if there isnt something she desperately wants or she will just look for something to buy because she can.

i also plan to buy her a mob phone next year when she starts secondary school, but think it only fair that i pay for the credit. will probably pay £10 for her a month and if she wants any more she has to save top it up herself

Yes we have done that as it is for us to contact her and know she can contact us she hase`nt really used her phone for anything else - not yet anyway.

 

[Bev Rose]

My daughter is 15. I give her an allowance of £50 every 4 weeks (12.50 a week).
This may sound like a lot, but she has to buy everything she needs from phone credit, clothes, going out (bowling & cinema), toiletries, mates birthday pressies, magazines, shoes etc. She has a packed lunch, but if she decides she wants to use the school canteen - she pays for it.
I decided to do this after a client of mine told me she did this for her daughter - as one week she cost me £20 for some tickets, £15 for make-up, £3.00 for a magazine & £15 to go bowling & £10 phone credit - all within a space of 3 days!!!!!
This way, she is learning to budget better & not be wasteful with her money.
She does have to do jobs around the house - if she doesn't, for every job not done she'll lose a £5 - not had to do that yet!!!!!!

 

[shell28]

My son is nearly 5 so doesnt get pocket money as such but if he does jobs for me at home he get £1 as he does if he helps out round nannas!! hes really got he like to help with dusting and always unloads the washing machine!! We wanted to teach him the value of money at a early age and hes very good he wanted a ben 10 figure last week £4.99 so he got his money box down we counted out the money and he brought it himself!!

 

[nailtekireland]

I do the same as my parents did with us, to work out an amount they would give us half our age. It works for my eldest, he's nearly 8 and is really lokking forward to getting €4!!!! It's like a little promotion. He has a little chores list up on the fridge that he ticks off when he has finished them. I found it important to give a job that is routine and everyday,like making his bed in the morning, but other jobs like emptying the recycling bin wouldn't have to be done everyday. He loves the responsibility of it all, and I'm so surprised he has stuck to saving the money for a game which costs €50. I want my kids t oknow the value of money, God knows they are going to need all the training they can get from us!!!

 

[bubbabinks]

Mine are to young for pocket money but hubs and I have agreed that when they are older they will get a monthly allowance.
Similar to Bev they will have to allow for socialising, clothes, gifts etc from this.
Hubs doesn't think they should have to do housework, looking from how I was raised but I don't want them to do nothing and think someone will always clean up after them:lol:
So the happy medium is that when they hit pocket money age, their bedroom and belongings will be their responsibility to be kept clean, hoover, dust etc and if they don't do that they won't get their allowance.

On top of this we have decided to do a price list for jobs around the house and if they want more money they will have the opportunity to earn it through the list.

 

[Klassy Klaws]

The way I worked it with my girls were they get half of thier age ie;a 10 year old gets £5, 11 year old gets £5.50 and so on.
This has always been a good way of setting an amount, they had chore around the house to do and if they didn't do them they got 20p taken off their money they also had the option to earn more by doing things like getting shopping for neighbours & washing the car.

The only one now getting pocket money is 13 she gets £6.50 a week and is very happy with it well that it until her phone needs topping up:irked::lol:

 

[angelina221]

I have 2 girls 11 and 16. They get £5 each a week from us and then my dad gives them £5 each a week too. They have to keep their bedrooms tidy, empty the bins, sort the recycling and help with the washing. My elder daughter has her own bank account and she saves for when she needs something. My younger daughter is a bit more frivolous but she will save if there's somthing she really wants and they've always got more money than me :irked:

I'd just like to add that we also top up our daughters fones every month.
My eldest daughters designs all my flyers though and price lists.
My youngest daughter also cooks the tea every Sunday. She does a roast chicken, roast potatoes, mash potatoes, peas, mushrooms and yourkshire puds (she makes these from scratch with flour and eggs). She won't let us help and the only thing my husband does is carve the chicken and mashes the potato!
It saves me the hassle of having to cook and she loves to do it so i think they earn their pocket money!

 

[collin]

Well my kids get pocket money but only if they do their designated jobs...if they don't then they don't...they seem to learn quick :hug:

 

[Marley's Ghost]

It depends how many chimneys she cleans

 

[blossom]

My eldest (12) gets £5 a week, we started this when she started at secondary school last September. But now we don't buy her sweets, magazines, keyrings and other bits that we perhaps might have when she was younger, its now for her to choose. Sometimes she saves for bigger things.

There is always the option for both of them to "earn" money by doing little jobs. The payment varies depending on how knackered I am and how much I hate doing that particular job lol :lol: For instance 50p for hanging out or fetching in washing, 50p for unstacking dishwasher, £1.50 for changing their bed, £4 for cleaning out the very large hutch housing several animals so quite a big job and one I'd rather get out of! etc etc

Bev Rose I think yours sounds pretty balanced :hug: Like you say, sounds a lot initially but when you think it through lol

 

[Zo Zo]

I just asked my daughter (age 9)...'how would you like to help me out with some little jobs around the house, to earn money?'

She looked very confused amd said, 'I don't need money.'

:lol::lol::lol::lol:

 

[The Guild]

I just asked my daughter (age 9)...'how would you like to help me out with some little jobs around the house, to earn money?'

She looked very confused amd said, 'I don't need money.'

:lol::lol::lol::lol:

That will soon change!

I don't have children of my own yet, but I do know that I don't want to treat mine the way I was.

I was an only child, and was spoilt in some respects, as my mum actually didn't want me to do chores around the house! However, I also didn't get any pocket money, and was discouraged from asking for anything - I got what I got and liked it.

When I got older, I realised I had no value of money, and no basic life skills, all of which I had to teach myself. I would like to give my children a healthy start in life by helping them to understand both of these concepts, as well as the fact that throughout life, money has to be earned, and not given to you.