Kids and Pocket money!

Admiral Huddy · 3 Apr 2006 at 10:13

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.

Admiral Huddy · 3 Apr 2006 at 10:21

G|mp said:
Pay them weekly for doing chores round the house

washing up/hoovering tidying rooms that kinda jazz

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.

Admiral Huddy · 3 Apr 2006 at 10:40

WIBSBOT said:
Spoil them. Kids need spoiling. They can learn about money when they are older and have to get a job.

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.

Admiral Huddy · 3 Apr 2006 at 13:57

Of course you could argue that somethings you would expect children to do without being paid, l like tidying their bedroom etc.. If you introduce a reward scheme for such chores at an early age, then they are going to expect to be paid for everything. Altough they should learn the value of money by earning it, they must also learn too, that somethings we have to do, paid or otherwise.

This is the reason we are not to keen on paying them for doing their rooms but maybe something they they are not expected to do.

Admiral Huddy · 4 Apr 2006 at 09:27

Settled .. we are going to pay them £15 a month into their accounts... then they can do various jobs around the house to earn extra cash..