When to start pocket money...?

[flutterworc]

DS turned 4 in October. We don't buy toys other than birthdays and Christmases and he's desperate for a Lego set advertised at the back of one of his Christmas presents, so I'm wondering about starting pocket money with him and teaching him about saving up.

DH and I had always expected to link pocket money to household chores, so I suppose my question splits into four parts:

1. is 4 old enough to understand pocket money?
   
   
2. if so, what sort of chores would you expect them to do to earn their money?
   
   
3. how much would be a reasonable amount?
   
   
4. how would you help 4yo 'track' his chores and savings?
   
   Thank you!

[Gillian1980]

I plan to start pocket money at 4, which will coincide with starting school.

My thought is to have amount that dd will get anyway, say 50p or £1. Then she can double it by doing "chores" such as tidying her room etc - quite low key, easy and achievable jobs. Bit more as she gets older.

[TeenAndTween]

We've never linked pocket money to chores (too complicated for us).
Chores have to be done as part of being in a family unit.

I think 4 is a bit young. I would say when your DC has an ability to count and understand money a bit.

50p or £1. You can't get much with 50p, just a few sweets really You would need about £2 to get anything even from a charity shop let alone a toy shop.

(In your situation I'd be tempted to wait until next September.)