pocket mone

**mushpea** · 28-02-2009, 05:20 PM

sorry this isn't minding but thought you would all have an oppinon on this for me.
My daughter is 10 and gets £2 pocket money .

firstly is this about right for her age or what do you give yours?

she has now started going out with her mates and they take money with them, do i let her take all her pocket money out with her and tell her its up to her how she spends it or do i give her half and say you can spend half and save half. really want to teach her the value of money and to be responsible for her own money but not sure the best way to go about it.
what do you all think?

**sarah707** · 28-02-2009, 05:25 PM

My 2 have bank accounts, I opened them when they were 12.

I put money in each month and they have a card which they take out when they go shopping.

We've had a few disasters... broken cards, forgotten pin numbers etc but it's all a learning curve isn't it?

They can't go overdrawn which is a biggie, so they have to learn to spend to their limit and no more. I don't ask them to save just now as they do not have enough money going in.

However they both know when they get work they will be saving and paying me keep. Also if they don't work then I get all their allowance money... it's a good way of focussing them but you have a way to go yet!

**Hebs** · 28-02-2009, 05:33 PM

my almost 13 year old gets £10
9 year old gets £5

AS LONG AS they have done their chores

**FizzysFriends** · 28-02-2009, 05:47 PM

My DD (6) gets £2 a week. She has an account with Halifax just for her pocket money which she puts money in when her money box is full. I let her spend it how she wants, but she soon learnt that if she spends her money on silly things just for the sake of spending it when there is something she really wants she can't buy it and I don't buy it for her if she wants me to get it for her she has to wait until birthday or Christmas.

**Chatterbox Childcare** · 28-02-2009, 06:06 PM

My 2 both have £20.00 per month which is paid into their accounts. they have a couple of bits and bobs to do around the house for this but they both help out so much with the mindees I usually let them off!

amirose · 28-02-2009, 06:19 PM

My half sister Megan gets £2 a week but can extra extra by doing chores. They have a chore sheet on the wall with all the different chores and how much she will get paid for doing them (feeding the cat 50p, hoovering lounge £1.00 etc) she can do as many or as little of these chores as she likes but that obviously effects the amount of money she gets at the end of the week

**charleyfarley** · 28-02-2009, 06:37 PM

Charley (6) gets £2.50 she can spend or save as she wishes. She was saving up for her own laptop but she has recently bought a couple of ds games. She does like to see her money grow

Carol xx

LOOPYLISA · 28-02-2009, 06:38 PM

Ours get £20 a month paid into a account, they can use there card and get it out when they want (within reason)!

**louloudi** · 28-02-2009, 07:32 PM

oh dear I must be a really bad parent... my 9 yr old doesn'y get p.money.

I'll let him keep the change to spend if I send him to the shop and he has a savings account which birthday and xmas money go into but thats about it

**mushpea** · 28-02-2009, 07:57 PM

hmm, i feel quite tight now looking at how much other kids get, maybe i should up her money a bit

**PixiePetal** · 28-02-2009, 08:14 PM

I go by the rule of £1 per year of age per month.

So DD 14 gets £14 a month now. From that she has to put £5 in her phone and I put in another £5 so she gets 300 free texts. She can 'earn' more by doing extra chores above what I expect her to do without payment!

DS 12 gets £12 with same rules.

If DD goes out with friends she has to pay bus and extras, I pay for lunch (usually slice of pizza from a stand) as I would feed her anyway.

This seems to have stopped her asking for magazines and sweets when out shopping as I don't supply those!!

**loocyloo** · 28-02-2009, 08:53 PM

my ds doesn't get pocket money, but we have decided to give him some once he turns 7 ( in a couple of months ) i was thinking of giving him a £1/week, but he will have to do a few jobs as well. i don't want to start paying him to do jobs, as he already helps, but i somehow want to instill in him a work ethic! but equally, i don't want to not give him his pocket money for not helping !!! not sure yet how to work it !!!!

x

**Princess Sara** · 28-02-2009, 09:18 PM

DS1 doesn't get pocket money yet as he is not quite 5. I don't think I will give him pocket money until he is old enough to go to the shop and spend it and as I provide absolutly everything he wants/needs I hope that will be quite a long time!

I do belive that they should work for the money they recieve, and if jobs are not done them money is not given at the end of the week. That in itself is a great lesson to learn and can be built on in different ways to suit you and your family.

**Alibali** · 28-02-2009, 10:03 PM

DS 10 gets £3.00 a week in cash and I put £10 a month in bank account for hols etc. Apparantly british average is £8.00

**carebear25** · 28-02-2009, 11:41 PM

our 12 yr gets £10 a week in his bank account for when he is older (to put 2wards car etc)

he also get £2 every other week or £5 every other week if he helps out (which isnt that often) this is for anythin he wants. (only gets every other week as other week he is at his mums)

our 15mth old also gets £10 a week into his bank account for when he is older.

**peanuts** · 01-03-2009, 06:42 AM

my 3 dont get pocket money, i pay all their clubs ect, they occasionally get money to go to the shops with their friends, money gets put in a bank account for them monthly, if they want something they have to ask me for their bank account. my son is almost 14 now so thinking of giving him a cash card instead of a passbook.

**Shar** · 01-03-2009, 08:11 AM

My 12 year old dd gets £10 per week, but she has to hoover downstairs and
1st floor stairs. At 4pm every sunday we all run away whilst she does it as the aggression that comes out is scary!!

I put it down to hormones!!

I also top up her phone when she needs it, as she does go out with her friends at weekends and I need to know she's ok.

**huggableshelly** · 01-03-2009, 08:26 AM

my 2 get £10.00 a month into a savings account for when they are older, they know about their savings accounts but they cant take money out without my signature. this can change now they are over 5 but I am leaving it as it is.

The both get £2.00 a week which they can do with as the please but they also know if they want anything they must save for it.

I treat them when we are out so they dont have to spend their pocket money on sweets which is bad on my behalf really. they are age 7 and 8, DD is saving for a high school musical chair and DD is saving for a ben ten watch, they are both almost there and not had their pocket money yet this wkend, its given to them once homework is completed.

They also get £10.00 a month of my parents and my Mother inlaw gives them a two pound coin everytime we visit which is usually at helf term wkends.

wow they get more money than I have left over at the end of each months banking! I'll have to start asking them for childcare fees too LOL

**mushpea** · 01-03-2009, 10:42 AM

those of you that give pocket money do you let them spend it on what they want or do you say spend some save some.
at them moment my 10yrold gets £2 a week now she is going out and whants to spend it in the shops, so i let her and hope she can be resoponsible with how many sweets she buys or do i put a limit on it? i will probably be upping the amount she gets though cause it seems as if i am being a bit tight!

**tinkerbelle** · 01-03-2009, 11:10 AM

Originally Posted by louloudi

oh dear I must be a really bad parent... my 9 yr old doesn'y get p.money.

I'll let him keep the change to spend if I send him to the shop and he has a savings account which birthday and xmas money go into but thats about it

neither do my kids 10, 9 amd 7 i never got pocket money either so never gave it them.
they have treats for wrestling cards (biggie at the minute) and if bedrooms are clean every week they get £1 which they take to grandads and he doubles it but its for their holiday spending money.
my kids have saving accounts which has birthday and christmas money in as well and we pay £2.50 in to a insurance policy that matures when my oldest gets 15 nan and grandad do this for them as well so i dont fel bad about no pocket money