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Pocket money advise

(8 Posts)
ChopinRocks Sat 24-Feb-07 19:25:17

What is the going rate these days? my 8 year old dd currently gets £3.00 per week but this just goes on sweets, mags. We did open a bank account as she got quite a bit of money over xmas which she is saving. Should it increase in steady increments relating to age? ie. £1 more a week each birthday? Is is better to pay monthly? What do you do?

mumeeee Sat 24-Feb-07 21:38:32

Have a look on the teenage section. There is a thread going on about pocket money there. £3 a wek is very Generous for an 8 year old.
My brother gives 15p per year a week so the 7 year old gets £1.05 a week, the 9 year old £1.35,the 12 year old £1.80 and the 14 year old £2.10.
My children used to get simular amounts but when they went into year 10 ( aged 14) they started monhky allowences. The 17 year old gets £30 and the 15 year old gets £25 per month. I buy basic school and college clothes and one pair of trainers and shoes per year. I also pay for any other college and school expenses. They have to buy everything else.

moosh Sun 25-Feb-07 08:21:52

My 7 yr old gets £2.50 a week, he can spend it one week and save it the next.
We give the 3 yr old 20p just so that he feels he is getting something too.
I don't give it every week if money is tight, I will tell them that I can't afford it this week and they are fine. Ds1 has to earn it though like tidying room washing football boots e.t.c.

somersetmum Sun 25-Feb-07 22:36:19

Blimey, I thought ds was well off but obviously I am a scrooge. He gets £9 *per month* because he is nine. He gets a £1 *per month* increase every birthday. He has started asking me about earning more from doing chores as his friends all do this, but I didn't really take him seriously as he is a saver not a spender (he is free to spend, but rarely does), so I didn't think he needed any more.

thelittleElf Sun 25-Feb-07 22:40:50

Good grief! That is an awful lot for a child of such a young age. I personally think £1-£1.50 is MORE than enough, especially if it's just being wasted on sugary sweets etc. I think you'll find if you give her less, she'll be more inclined to save it up, therefore being able to buy herself something really lovely in a few weeks time. I am a firm believer in children being taught the value of money!

PussyWillow Sun 25-Feb-07 23:10:56

Sorry to hijack but I wondered at what age pocket money should start?

thelittleElf Sun 25-Feb-07 23:13:26

I don't remember getting any money before the age of 8. And even then i was expected to make my bed, keep room tidy to get it!

cat64 Sun 25-Feb-07 23:21:31

Message withdrawn

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