Kids and Pocket money!

Admiral Huddy

Admiral Huddy

Admiral Huddy

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My kids are at the point now where they need a little cash in their pocket to do a few things on their own, as they are becoming a little more independent.

We have never given them pocket money because to be honest, they’ve never really needed but my daughter has now started going out with her mates on a Saturday and is always asking me for cash.

Up to now, I’ve just given her the money as and when she needs it but it’s getting out of hand (my fault I know). There are now arguments about the whole thing and we need to resolve it once and for all.

I don’t really fancy just handing over cash every week like I have been as I want them to understand the value of having money and being responsible for it.

So the dilemma is; do we just give them some pocket money each week and have done with it? Or do we pay them a monthly allowance so that they can learn to budget their money? Should they do little jobs to earn it?

My son and daughter are 10 and 12 respectively, so too young to get a job.

I just wondered what some of you with older kids do or what the arrangement was when you were younger.

I’m too old to remember.
 
Pay them weekly for doing chores round the house

washing up/hoovering tidying rooms that kinda jazz :)
 
I'd have been very lucky to have £5 a week at their age.

Start small tbh, let them learn the value of money. Pay them for doing chores too.
 
I havnt had kids yet so cannot talk from a parents view.

I think giving them £2-£5 a week is better for now.

It will teach them to save for certain things instead of budgeting for the month which I think is better at their age.

You could give them a flat rate £2.50 or something then have a chore chart of some description and if they do the washing up add some more money on to it. Just a thought.
 
For as long as I can remember my sister and I had a few (very minor) household chores to do to get our pocket money. There were other jobs like ironing we could do for extra money but it meant we had to earn what we got. :)
 
G|mp said:
Pay them weekly for doing chores round the house

washing up/hoovering tidying rooms that kinda jazz :)
Click to expand...


Sounds like a good idea, and exactly what i thought but their mum isn't so keen. The reason is that if you make kids of that age do such chores now when they are young, then that's exactly what they become. Chores. She feels that they have all their adult lives to do those sort of things. I see her point.

She suggests jobs which they might enjoy, like cleaning the inside of the car, washing the car, helping me when i'm doing jobs round the house and stuff.

It's really quite difficult. :(
 
If they don't work for it Huddy, they'll just keep begging for more and you'll be straight back at square one.
Money doesn't grow on tree's - you need to teach them that.
 
I get what your mrs is on about but its also paying them for helping
run the household which imo is preparing them for adult hood anyway

They learn that helping with running the house please Ma and Pa also gets
them a few quid to go out and but whatever kids buy nowadays :)
 
Why don't you give them a flat rate every week and allow them to do chores for extra money if they want a top up. If they don't have to do it but want to they'll see that works has its rewards and won't find it quite so tedious.

Burnsy
 
WIBSBOT said:
Spoil them. Kids need spoiling. They can learn about money when they are older and have to get a job.
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Oh great plan - watch them turn into little brats. Ever hear the term "spoiled rotten"?
 
WIBSBOT said:
Spoil them. Kids need spoiling. They can learn about money when they are older and have to get a job.
Click to expand...

no - they won't learn to respect money and it's worth but i know what you mean.

I want my kids to be kids for the time being.

I quite like the idea of giving them a flat rate per month, maybe paid into a saving account that they access to (say £20 a month), then write a list of jobs they can do for extra cash.
 
WIBSBOT said:
Spoil them. Kids need spoiling. They can learn about money when they are older and have to get a job.
Click to expand...

Kids don't need spoiling. They need to know the value of earning an object, its not necessarily what the object is, its about the fact that it reflects their hard work.

And a side benefit is, they'll be better with money when they get more of it.

But by no means be stingy :p

Burnsy
 
Our daughter gets £3 a week now (I think, may still be £2.50) and she's 11. She makes the odd cup of tea, gets the washing in off the line and clears the dinner table, that sort of stuff. Just generally helping her Mum round the house.
 
I got given 20 a month I think when i was about 12, and I remember the day my parents decided to give me £40 a month! I was like WOWOMGWTFWOW!!!
That was when I was about 13, although I dont get it anymore, stopped when i was 17 and got a proper job.

My sister I believe gets £5 a week, although she might get 10, not too sure!
My mum always makes us do chores.
I dont see them harm in teaching kids they need to work to get the things they want, thats life! It will teach them money doesnt come on a plate!
 
I had two brothers and there is a 16 month gap between me and my youngest brother. We got about £2 a week IIRC, if we got any at all. It was hit and miss. But, I remember having to work for it. When I was 13/14 I got a paper-round and got about £20 a week. At 15/16 I worked at a telesales place for about 3 months and quit. At 17 I got employed at Tesco and was working there right up until I left for uni.
 
I think I was getting £5 a week at that age. Then I started doing a free-paper round, which earned another £4-5 a week.

Then I hit 14/15 mum boosted it to £30 a month (clothes allowance was then also included). At 16 I started a part time job down the local chippy which dwarfed mum's pocket money by getting me between £15 and £30 a week.

Some time around age 16 or 17 she put it up to £50 a month, as I quit my job to concentrate on A-Levels.

I'm fairly good with money :)
 
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