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pocket money ? Lock Rss

what age did you start giving your kids pocket money and how much?

tia - i am hoping to show dh that 20c doesnt cut it anymore for a 5 year old...
I don't give my kids pocket money

IMO doing chores is all part of being in a family & they won't "get paid" to do it when they leave home lol

But I do think that 20c is not enough if you do give pocket money

For a 5 yr old I would give $5 a week

im on the same sort of wavelength as mumto6boys here i think. i dont think regular jobs that help the family function should be rewarded with pocket money (seting table, making beds, keeping room tidy etc) but extra jobs (helpin take bins out, washing the car, weeding the garden etc) i will give pocket money for but only if they do it without being asked if that makes sense. i would pay for each job that was done and i think 50c-$1 per job is plenty esp if paid at the end of the week so probably end up with about $5 a week. also would vary the payment for each thing eg washing the car would get more than taking out bins.

Posted by: lissiii
im on the same sort of wavelength as mumto6boys here i think. i dont think regular jobs that help the family function should be rewarded with pocket money (seting table, making beds, keeping room tidy etc) but extra jobs (helpin take bins out, washing the car, weeding the garden etc) i will give pocket money for but only if they do it without being asked if that makes sense. i would pay for each job that was done and i think 50c-$1 per job is plenty esp if paid at the end of the week so probably end up with about $5 a week. also would vary the payment for each thing eg washing the car would get more than taking out bins.


that makes sense. i also want to teach the kids to save a bit of it every week which would not happen on 20c.

thanks ladies
thanks supermummy that sounds great!
We don't give our boys pocket money - they only get money if they go above and beyond the call of duty i.e washing car, weeding etc..and depending on how much effort they've put it in, it can vary from $2-$5.
However they do regularly get money for special occasions so we expect them to save up that money and when they want to buy something with it they'd have to ask us if they can use the money. They both have a nice amount in their accounts now and we're hoping they can keep saving to have enough to buy a car etc. when the time comes.

I give dd $1 every time she cleans the room after the 2 four yr olds have made a mess . . . . its worth every cent!

that is what we are hoping to achieve too supermummy.
We never got pocket money we were just expected to do chores as part of the family.
Posted by: Aunty*Anna*
We never got pocket money we were just expected to do chores as part of the family.


Sucks to be you. Im guessing you'll treat your kids the same?
we started putting "pocket money" in his account as soon as he was born, but that account won't be touched by him til he is 18. he gets $5 a week from us and my parents also give him $5 a week.

when he is about 4 we will start giving him pocket money, maybe starting at $2 base, going up a dollar a year, and probably doing a reward system for when he helps with little jobs, 50c each or something like that, keeping track on a reward chart.

we will let him use that pocket money for what he wants - so if there is something he wants he will have to save up for it, so hopefully he will appreciate the money more that way, and value what he buys with it more.

i know some people don't agree with the reward thing, that they should do these jobs without being "rewarded", but i think its a good way to teach kids early the value of money and that it doesn't just grow on trees or pop out of an ATM, you have to earn it.
[Edited on 20/12/2009]

Posted by: MooshMoosh
Posted by: Aunty*Anna*
We never got pocket money we were just expected to do chores as part of the family.


Sucks to be you. Im guessing you'll treat your kids the same?

hehehehehehehehehhehehehehe

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