Going rate for pocket money(62 Posts)
Just a quick - what is the going rate for pocket money for 9 year old?
And dependant on chores or not dependant on chores?? Enough to save for bigger items or just a bit of fun money?
I imagine there are lots of variations of views.
We have never given a set regular amount but feel it's probably the right time.
A couple of pounds on a Saturday? So they can buy something small or choose to save it up for something bigger?
Depends on what you want him to improve or stop doing
Agree the rules - so up to a max of £xx - earned by:
Getting up on time for school without being told a million times 10p a day
All homework in on time 10p a day
Getting uniform and bag ready the night before school 10p a day
Clearing the table £1 for 5/7 days
Taking out the rubbish £1 all week
Not biting nails 20p a day
You (pretend to) keep score and tot it up at the end of the week. Throw in the odd 10/20p (‘I saw you gave your last sweetie to your sister when she dropped hers - really kind!’).
We are going to get dd a go Henry card for her 9th birthday. We are looking at putting £20 per month on it.
Not dependant on anything. Me and DH don't get paid for tidying the house, so neither does Dd.
She won't spend the whole amount all the time. So it will be good for shopping trips and holidays where she can have her own money.
You are going to get some people say 10p a month is plenty and others than £200 a month isn't enough
We do a pound for each year, so right now at 5yrs our dd gets £1.25 each week (£5 a month). It's not dependant on anything and she has to save for bigger things. We will buy books and ice creams, but any toys or magazines she has to get out of her money.
My DD is 10 and she doesn't get pocket money. She can earn some if she wants to buy something though.
Even a small item...for example, if she wants a dollar to go for sweets now and then, I will say "Ok...go and get the eggs in from the coop and feed the cat...." and she'll do that and get a couple of dollars.
Bigger things I just give her bigger tasks. She can choose to save the money or spend it.
My 9yo has a Go Henry card and gets £20 a month. She can lose money from that (50p a time) by doing things that we constantly ask her not to (leaving lights on in the day, thundering down the stairs while her baby brother is sleeping etc), but can earn money back and up to £5 extra by doing jobs that aren’t her usual chores. She then gets the amount paid onto her card at the end of the month.
My 9 year old gets £5 a month, paid into a building society. When I gave her £1 a week she just spent it on tat immediately. She is not allowed to buy sweets with it, or every penny would go on them!
Using the BS has caused her to save and value the money and think hard about what it is spent on.
It's not dependent on doing chores as we all have to do chores as part of being a family. But from time to time we give her a little extra money for something outstanding that she has done.
I'm planning to increase the amount to £10 a month soon.
Mine gets £15 and has done since then. It always got a <gasp> reaction when someone IRL asked, and does sound a lot but he is expected to buy everything he wants from that, outside necessities. So for example if he wants new brand name trainers or clothes, Vbucks, sweets, expensive football boots, he has to save and buy them. It's not dependant on him doing anything at home, but he does need to get a note from his teacher each day to say he has behaved well at school (ADHD and previous behaviour issues in school setting). It's helped him to budget and has also improved his behaviour at school. Also means I'm not being nagged for new brand name stuff as he knows I won't buy it!
£60 per month by standing order. It’s always saved.
Yeah, I don't know about the going rate, but that's more than old enough to be budgeting for things they want to buy - though maybe a little young for a monthly amount rather than a weekly amount.
I would set it at the amount where, like whereforcaroline, he now can control and budget for his own non-essentials.
I do think regular tidiness is something that shouldn't be a paid-for chore, but it is something you can reward. I also think genuine cleaning (mopping, hoovering, cleaning windows etc) is a good way to introduce a kid to work before they're old enough.
My parents also lived too remotely to ferry us back and forth, so provided us with a pocket money boost in the holidays by paying for diy/gardening jobs.
My dcs don't want pocket money. They reckon they get more and less hassle if their parents just pay for everything.
Interesting views - the discussion about linking it to chores is the one we have been having at home.
Definitely do not want to go down the punishment/reward route on an ongoing basis for daily activities - for us this is not a bribe or control thing but a genuine recognition of him growing up. It came about during a more general light discussion on whether he could be having more freedom and responsibility as he is getting older. But we had thought about it being linked to cleaning out pets/doing his veggie patch/sorting the recycling - things that just need to be done at some point during the week, but also did not want to make these 'jobs' if you know what I mean.
We were also debating the couple of pounds in the hand which would just be spent on tat - but also remembering the absolute joy of running round the shop to buy my sweets/tat when I was little - against a larger amount to save for larger stuff.
I think we will start with an unconditional couple of pounds in cash to spend on tat and see where we go after a few months of getting used to it.
Personally I had never heard of a Go Henry card but had a look and think I would not do this until he is older - he needs the tangible cold hard cash to figure things out.
Thanks for all your thoughts
It is good to see people's views on pocket money. I never received any as a child and always had at least one job that was mine (dusting). Maybe that's why I don't like dusting now.
I've never heard of children having to save for 'big' purchases although I guess this has its merits. I guess I always just thought I'd get my DC toys and things at birthdays and Christmas and not willy nilly throughout the year. Clothes as required.
If children aren't 'earning' the pocket money, which I don't think I agree with, what are they receiving the money for? Just literally to have some 'money in their pocket'?
We never tied pocket money to chores. We all clean the house because we all live in it and we are all part of messing it up.
I’m debating this with my 11 year old atm. She’s hit an age where she would like certain types of trainers etc so we are debating some kind of allowance rather than pocket money with key things needing to come out of it (like the difference between trainers). It’s so tricky though especially with a younger one you pay for.
mine get a monthly allowance
dd1 (17) - £100 ... this has to cover everything except school expenses (clothes, toiletries, hobbies, socialising etc) she's always looking for extra ways to make money
ds1 (11) - £15
dd2 (9) - £10 (will go up to £15 when she's £10)
ds2 (7) - £10
none of it is dependant on chores, though dd1 can earn extra for babysitting, I just expect them to help when asked. For the younger three it's really just to start managing money. ds1 has autism & it's a real challenge for him. Sometimes they save for a few months, sometimes they spend it straight away (toys, books, apps). I don't buy them toys other than birthdays & Christmas though I do get books & consumable craft type stuff whenever necessary.
£3 a week for 7 year old. I think it's good for them to start learning how to handle money. She spends lots of time counting her money up and when she picks things up in shop adding up how much she needs etc.
I don't link it to chores but do occasionally give her 10/20p for a chore.
At that age Dd got £2.50/week. I would say she saved the majority of it as sweets are part of weekly grocery shopping unless we are out and she can’t survive without an ice cream.
She normally saved it for Lego or a stuffed toy or a trip to Claire’s.
We never link it to anything, chores are part of every family member’s life so she does her bit and it often depends on the circumstances what she does, also, no deduction for problems, this is dealt with other consequences relating to the relevant issue.
We set up a RoosterMoney app at one point so she could see how her money grows and she can put money in a savings pot and spending pot. If she needs cash we give it to her and deduct it from the app.
obviously for the younger three it's only extras they use their money for - activities, hobbies, clothes etc I pay for!
My 9yo gets £1.50pw, the only proviso is that they don't spend it on sweets. It goes up by 50p every birthday. It's not tied to chores - my DCs are part of the household, so I expect them to do age appropriate chores without me paying them to do them.
He saves most of it, but if we go out for the day and he sees a toy he wants, for (say) £5, he has to decide whether it's worth spending a month's pocket money on.
He plays football so needs new boots once a year. I say I'll buy a pair up to the value of £25 (you can get a pair of basic Nike boots for that) but if he wants a more expensive pair, he pays the difference.
It really has helped both of my DCs budgeting skills - they think about whether they really want/need something and it means they don't nag me for unnecessary stuff!!
For the last 4 years our DS has had a star chart, it's a mix of chores and him doing stuff on his own (like getting dressed on his own at 4)
Each star gets 20p. Some weeks we are really good at using it, other weeks but so much.
It never pays out much more than £2.40 a week.
We use it to reach him he needs to save up for things he really wants outside of birthday or Xmas presents. So if he asks for toys we will explain how many weeks he needs to save for, in the next few years we will have to teach him to put some of it away in savings.
my 8 and 9 year old DDs get £4 a week. extra 50p if they get 100% on their spellings (they do most weeks). Also they have a chore chart where they can earn 10p-£1 for jobs like doing the recycling, feeding the dog, making their beds etc
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