Tina C Posted June 13, 2008 Share Posted June 13, 2008 I thought we had discussed pocket money before but I can't find a thread - so apologies if its already been done. OH has had a pay rise and suggested we share that with Layla by giving her more pocket money. Also, as she is moving on to Junior school, it would be an acknowledgement of a new life stage. This goes against what we previously agreed - she gets £2 a week and has an opportunity to top that up by doing chores (from a list, each chore earns a piece of lego in a jar and then when she has 20 pieces of lego she gets £2). She will only get a raise when she takes on a responsibility permanently. OH argues that £2 a week is not much as she currently spends most of it on a Toontown subsciption and does not have enough leftover for anything else. My argument is that I want her to learn the value of money and if she chooses one thing, she can't have something else as well - we all have to make those decisions and it will help her later in life if she has to learn to budget. And if there is something she wants she can do chores to earn more too. We pay for her activities (Brownies and tennis) and for any expenses relating to school (eg Book Club once a week, fundraising events etc). She also benefits from our pay rises, bonuses etc as we have more disposable income anyway. Oh, and my mum also 'gives' her £1 a week but saves it up and gives it to her when she sees her, so she gets a nice lump sum to spend. On top of that, all the grandparents bung her a fiver now and then too - eg for holiday spending. Reading this back I still think our original plan is sensible (and I know that some will say Layla is very lucky to get what she does - one of the upsides of being an only child). But I would like to know if others give pocket money and how much? Quote Link to comment Share on other sites More sharing options...
The Dogmother Posted June 13, 2008 Share Posted June 13, 2008 Errm, I feel stingy now ... Rosie gets a pound a week, and that's only if she remembers to ask me, because I usually forget. I buy everything for her, and my folks have invested some money for her, so it's not like she needs it. She hasn't asked me for any for ages though. If we go out anywhere, then she might ask for £5 to spend but she doesn't often ask for that. Bless her, when I was really stoney broke at the end of last year, she offered to get some money out of her bank account for me... made me cry. Quote Link to comment Share on other sites More sharing options...
Egluntyne Posted June 13, 2008 Share Posted June 13, 2008 Mine are too old for pocket money, but they had to "earn" it. Making a stab at keeping their bedrooms tidy, bringing laundry downstairs, etc. Nothing to onerous. If any of the expected jobettes were not carried out after 3 times of asking, an amount was deducted from the total. Quite difficult to get it just right, as ineveitably "everyone else" will be getting a tenner a week. Some will, but discrete enquiries will show that most don't. Quote Link to comment Share on other sites More sharing options...
hillfamily Posted June 13, 2008 Share Posted June 13, 2008 Bless her, when I was really stoney broke at the end of last year, she offered to get some money out of her bank account for me... made me cry. That has just brought a tear to my eye Well my two are 14 and 16 so they get a monthly allowance to cover everything - it's up to them how they spend it but if they need an essential and they've spent their money, tough, they have to wait until next month. I had a similar thing when I was their age and it taught me to budget and consider purchases and it has taught them the same :D DS's allowance will stop in September as he will be at 6th form - he can get a Saturday job and will also be eligible for EMA so he can learn the art of earning and budgeting Quote Link to comment Share on other sites More sharing options...
Guest Posted June 13, 2008 Share Posted June 13, 2008 I thought we had discussed pocket money before but I can't find a thread - so apologies if its already been done. But I would like to know if others give pocket money and how much? mine all got £1 a week until the end of junior school - then on moving to secondary school they got a massive 500% raise to a fiver a week!! it goes straight into their bank accounts by direct debit - cos we always used to forget - or not have any change - and then lose track of how many weeks we owed them - and ended up erring on the over-payment side!!! - Carys siphons £1 a week off to sponsor a dog - the boys siphon off some to pay for games mag subscription and X-box online subscription... (that means Carys gives away 20% of her income - puts us all to shame) otherwise it all just piles up in their accounts and they have more money than we do! they don't have to earn it - they get it automatically.. they use it mostly to fund their large array of games consoles, but have recently used it to buy birthday and christmas presents for us and each other - which was a step forward from us buying them!! (i think I overheard discussions about them being dispatched with their bank cards on saturday with instructions to part with their own cash to buy me fathers day stuff!!) Phil Quote Link to comment Share on other sites More sharing options...
Karen & co. Posted June 13, 2008 Share Posted June 13, 2008 I feel stingy too I don't give any of mine pocket money, but they do have jobs to do that they turn to if they need money, We pay for all their activities and trips etc. so it's mostly for phone top ups for the older ones, and presents for friends if it's just that they saw something and thought a friend would like it (my girls tend to do this more than the boys ) YS is wantng to save money so he is doing all the downstairs hoovering for payment, this needs doing daily because of the dogs and children and ED has started to make the school packed lunches for me We agreed a fee before that they were happy with but don't tell them it's a very small ammount Karen x Quote Link to comment Share on other sites More sharing options...
chickencam Posted June 13, 2008 Share Posted June 13, 2008 How old is she? If she is just moving to Junior school that makes her 7 or so? Our 9 year old gets £2 per week and the odd magazine or sweets from time to time. For that she is expected to wipe all the table mats at the end of each meal and put them away. Our 12 year old gets £5 per week and for that he clears the table every meal and is asked to do varies other things that need doing. From that money he is expected to pay for his own mobile phone credit (we are all on Vodofone friends and family on my OH's contract so calls between him and us are free) and any treats he wants. Our 14 year old also gets £5 per week which she also pays for phone credit with and any fashion extras she wants, we buy essentials. She has to load the dishwasher each mealtime, and do other odd jobs. She bought an MP3 player recently and is currently working off it's cost doing jobs around the house. We have realtives who give the children money for birthdays holidays etc. Each birthday they end up with £70-£100 in cash which we encourage them to put into a savings account unless there is something specific that they wants at the time. That money will be so useful to them when they go into higher education. We feel that if they used the money that they get from realtives they wouldn't learn how to save and work for items. We did buy the MP3 for ED because she wanted it for her Paris trip but she is paying off that money by doing jobs and foregoing her pocket money at the moment. She has dicovered that being in debt is unpleasant, so hopefully she will think twice before doing it for real. Quote Link to comment Share on other sites More sharing options...
Chooks Aloud Posted June 13, 2008 Share Posted June 13, 2008 When they were in junior school I gave my two a choice as to whether they wanted pocket money or not. The option was that they could have pocket money, but then they would have to pay for everything that they wanted themselves, which included all their various activities that they did. Or have no pocket money and I would pay for the activities. If they wanted anything special they had to earn it. They decided that pocket money wasn't for them and the question of pocket money never arose again. Both my girls found themselves Saturday jobs at 14 in local shops and have worked ever since. They had the pleasure of spending some of their earnings but always saved some as well. They both have a good work ethic and feel proud that they have always earnt their own money and can always pay their way. They are both very much in control of their own finances, they save and budget for everything. They are young adults now and I feel very proud of them both for the way they manage their finances. Pocket money is a personal choice but I know my girls are glad they never received it. Quote Link to comment Share on other sites More sharing options...
Ange1 Posted June 13, 2008 Share Posted June 13, 2008 £2 sounds about right and that you are currently doing the right thing! Maybe you could suggest to your OH that you tell your daughter about Dad's pay raise and as treat, there's a limited offer to earn a brucie bonus and for a one off payment (think of a sum not too big) you can earn it by weeding the garden or whatever?! When I was their age about %$£*& years ago I used to get 50p a week! Then I could earn the following by doing Mummy's least favourite job, the ironing! see from the list below and you will see I did a lot of tea towel as they were good value! 2p = Hanky 5p = pants and socks yes I know! 10p = tea towels and pillow cases 15p = t shirts or tops 20p = trousers/jeans (a nice crease down those 501's! ) 25p = Dad's work shirt (had to be done properly) 50p = duvet single 1.00 = duvet double! I suppose I learnt from an early age that in order to get money you had to work hard and it always seemed more special when I had saved money for my holiday to buy that teddy - I still think of Peanut (name of teddy) fondly! Shame I'm not still good at looking after my money! Quote Link to comment Share on other sites More sharing options...
chickencam Posted June 13, 2008 Share Posted June 13, 2008 mmm ED and ironing which is the bane of my life, now there's an idea Quote Link to comment Share on other sites More sharing options...
surferdog Posted June 13, 2008 Share Posted June 13, 2008 £2 a week sounds about right for a 7 year old. If your OH really wants to give her more money what about squirrelling it away and presenting her with a lump sum when she'll really need it eg, starting college? Quote Link to comment Share on other sites More sharing options...
Cinnamon Posted June 13, 2008 Share Posted June 13, 2008 My girls get - 13 year old - £5 a week 15 year old - £8 a week Anything more than that & they have to do household chores for payment. It works for us........the house is sparkly Quote Link to comment Share on other sites More sharing options...
Earthchild Posted June 13, 2008 Share Posted June 13, 2008 I feel really bad now as I don't give mine any pocket money (boy 8, girl 7) I guess it's because I just get them bits and bobs here and there anyway. We always have sweets in the house and if they are good they are aloud to pick something most days. With regards to bigger items like magazines, CD's and Games, I find them a great bargining chip and a sneeky way to get them to do chores around the house in order to earn what they want (mean mommy ) I like Phil's idea of paying it into a bank account - it's a good way to make sure it can't be squandered each week and gives them a bit of responsibility, plus I wouldn't feel so bad I guess £2 sounds about right for kids this age and certainly wouldn't want to give them any more just yet. Quote Link to comment Share on other sites More sharing options...
WitchHazel Posted June 13, 2008 Share Posted June 13, 2008 How long has you daughter had this arrangement of £2 basic + 10p per job for? If it's only recently, then there is probably no need for a pay rise. However, if she's had it for a while then some sort of rise seems in order. Maybe not to her "basic" £2, maybe to the rate per job? Or introduce other, more complex/responsible jobs which are paid at a higher rate? Quote Link to comment Share on other sites More sharing options...
Tina C Posted June 13, 2008 Author Share Posted June 13, 2008 Interesting that so many parents do not give pocket money. We decided we should as it would be so easy for us to keep dipping into our pockets whenever we get the 'I want'. We actually started when she was 4 (we wanted to give £1 then but she would not even have been able to get a magazine for that, which is how we settled on £2). This way if Layla says she wants something we can say - 'Have you any money?' She has complete (almost ) control over what she spends her £2 on - and when its gone, its gone. We do try and guide her - and she is already starting to adopt a 'spend some, save some' approach, which is good. I am especially happy when we have a day out and she spots 'the shop'. In the words of Dr Who 'there is always a little shop'. If she has cash she can buy something if not, tough. We do have to revise her chores list now she is a bit older - but I think its still too early to add ironing She is a very lucky girl as she already has a little nest egg building up for later in life - and a pension . Much more than OH and I started our adult lives with (a big fat zero for both of us). Anyway now I am more sure than ever that £2 is enough. And we have a little plan to celebrate the transition from infants to juniors was well now. We always try and surprise her with something (usually a book) for getting a good report and working hard at school, but this will be something a bit more significant. Quote Link to comment Share on other sites More sharing options...
Tessa the Duchess Posted June 13, 2008 Share Posted June 13, 2008 Casting mind back a very long way...my children started getting pocket money when they were 5, they got £1, this increased by £1 every time they had a birthday, so by age 10 they got £5. £2 for a seven year old sounds perfect to me. Tessa. Quote Link to comment Share on other sites More sharing options...
Mutrix Farmers Posted June 13, 2008 Share Posted June 13, 2008 Son is 13 and gets £3.50 per week paid into his bank account (actual cash just burns a large hole in his pocket!!) He is expected to put his ironing away, make his bed, let out chooks when he gets in from school, collect eggs. OH will also bribe him to do the hoovering and car washing. Am actually thinking of making it all task based to focus his mind a bit when he creates a fuss about putting his clothes away (this is what Son will look like when I propose this or ) I also pay for his mobile phone, although if he goes over the monthly amount it is taken our of his bank account!! When I was 15 I managed to convince my mum to give me the Child Benefit on the understanding that I would buy all my own clothes, presents etc from it and never ask for extra (which I didn't!) but I didn't have an expensive phone habit to fund Quote Link to comment Share on other sites More sharing options...
Keanie Bean Posted June 13, 2008 Share Posted June 13, 2008 I dont give any of mine anything and they are 9 and 3 and Daniel doesnt count yet at 17 months. My children know we live on a knife edge where money is concerned, they get everything they need and we take them out and buy them a special outfit or small present when we can, usually a book or ocassionally a DVD or video from the charity shop. Last year my daughters birthday present was a pair of roller blades from freecycle, she knew where they came from, but has been taught that no money needs to exchange hands for you to be able to enjoy life. She'll do better this year as we managed to buy a tent for us all out of a nice tax rebate that I had Sarah.x Quote Link to comment Share on other sites More sharing options...
Cooks Posted June 13, 2008 Share Posted June 13, 2008 I dont give mine pocket money and they are 10 and 12.. sounds stingy.. but I pay for everything they ever need, they dont want for much, however luxuries they have to earn .. they do this by a reward system.. I give them £5 for a good report at school, if they get a merit certificate it's the same etc etc.. They go on all school trips (which aren't cheap these days) and are both members of football and cricket teams so that also adds up and we pay for all these. Quote Link to comment Share on other sites More sharing options...
Ain't Nobody Here Posted June 13, 2008 Share Posted June 13, 2008 ES (16 next Tuesday) gets £17 a month straight into his bank account. YS (nearly 14) gets £15. They have to do dishes a couple of times a week, help empty the bins and iron their own school shirts. ES room tidying happens on the odd occasion, YS is very tidy already. They don't spend much generally (apart from the odd computer game) so they've got a nice healthy bank balance. I top up their phones (which they hardly use) and pay for trips/activities. Quote Link to comment Share on other sites More sharing options...
Ange1 Posted June 13, 2008 Share Posted June 13, 2008 They sound perfect ANH! Quote Link to comment Share on other sites More sharing options...
Ain't Nobody Here Posted June 13, 2008 Share Posted June 13, 2008 They sound perfect ANH! You're very kind . They actually would be if they wouldn't bicker a lot of the time . ES picks on YS - niggling and goading constantly . ES is 6'2" and YS is 5"5" so the wrestling matches are somewhat mismatched - poor YS always comes off worse . * prays for a huge growth spurt for YS * Quote Link to comment Share on other sites More sharing options...
Cooks Posted June 13, 2008 Share Posted June 13, 2008 I want to trade kids ANH !! mine tidy their rooms, but youngest is tidier than older son. I top up oldests phone without argument, I should argue shouldn't I! Mine dont do chores, as hubby doesn't believe in making them do it regularly, however, they do them if asked and when I flip my lid that I am doing everything for everyone.. Quote Link to comment Share on other sites More sharing options...
Geoid Posted June 13, 2008 Share Posted June 13, 2008 I don't get any money! They make me earn it! (not by doing housework etc, I mean earn!) Quote Link to comment Share on other sites More sharing options...
Helly Welly Posted June 13, 2008 Share Posted June 13, 2008 We pay DD who's 9 £6 a week, half of which goes in her save pot and half in her spend pot. At the moment she's spending all her money on crazy bones . We tend to pay for most things for her, she takes her money with her when we go to town or on a day out to treat herself to something. Her save pot is put into the bank and then withdrawn for holidays. She is expected to generally behave, keep her room tidy (that'll be the day) and do other chores around the house. She understands that OH works long hours and i have limitations so she's generally pretty good at doing things, even if she grumbles about it whilst doing it. She's fortunate in that her great grandmother and her grandparents have set up trust funds for her. We collect small change and that gets paid into the account for her. I only got 50p from my Nan when i was a child. I earnt my own money once i hit 13. Quote Link to comment Share on other sites More sharing options...
