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Pocket Money for a Five Year Old

(9 Posts)
sugarapplelane Fri 01-Jul-11 00:24:33

Hello

DD is coming up 5 and we have decided to start giving her pocket money (half to save and half to spend on what she wants). She seems pretty excited about this prospect but I have no idea how much to give her after living abroad for a few years. What is normal for this age?

cat64 Fri 01-Jul-11 00:45:16

Message withdrawn

piprabbit Fri 01-Jul-11 01:26:19

We started DD on 20p a week when she was 4yo.
She loved getting all the different combinations of coins (paid her in coppers one week - that went down well) and being responsible and putting it in her piggy bank.
She is now 7yo and it has gone up to the massive sum of...50p a week.

sugarapplelane Fri 01-Jul-11 15:17:18

Thanks for your replies everyone Looks like I was thinking along more generous lines! May need to review...

I like the idea of 10p per year of their life per week.

notcitrus Fri 01-Jul-11 16:51:00

Been thinking about this - my parents gave me enough for a comic and a small chocolate bar a week, which in today's money would be about £1.40, once I was old enough to understand money and add up coins - must have been 5ish.
I think I'll do the same once dcs understand money. But not do what my parents did for secondary which was to give me the amount of child benefit (£28/month) on the grounds Mrs Thatcher said it was enough for all my clothes, toiletries, and everything else. And then they wondered why I didn't vote Tory...

ChasingSquirrels Fri 01-Jul-11 16:55:16

ds1 had £1 at 5, due to break-up he now has pocket money at both houses and gets 10p per age (x 2) so currently 80p.
He is very bright, and particularly so with maths - and totally understood the value of money.

ds2 is 5 and gets 50p, but has no idea of the value of money.

am lol at £1.40 buying a comic and a chocolate bar - point me to where you shop, my kids comics seem to be £2.99 minimum.

Dancergirl Fri 01-Jul-11 18:07:30

We didn't start doing pocket money till 7 or so. We started doing the 10p per year of age thing but I realised after a while it's completely unfair if you have 2 siblings close in age who are into the same stuff. So now we give our older dds (10 and 8) £1/week each. Dd3 (4) doesn't get any yet.

But invariably we forget to give it to them....sometimes weeks and weeks go by blush But then I'll buy them an occasional comic or book every so often so it makes no odds.

Somewhere between 50p - £1 for a 5 year old...? She can buy a few sweets and save the rest.

sugarbea Fri 01-Jul-11 21:05:00

My ds (6) gets 1.50 a week as long as he has done his chores. Hes responsible for tidying his room, putting his own washing in the machine when it's his turn and cleaning ny sofas grin and if he wants to earn a bit extra he'll ask to clean the windows wink he seems to understand the value of it because he has worked for it.

lechatnoir Sat 02-Jul-11 01:06:39

DS (5.5) started on pocket money on his 5th birthday and it's worked really well. He gets 50p a week if he does his tasks (making his bed everyday, collecting milk & tidying up toys at the end of the day) and he can earn another 10p a day (up to 50p extra) for doing some writing practise - mainy because he needs the extra practise and bribary is the only thing he seems to respond to blush. He's done really well and saved up for 2 months for a Wii game he wanted (plus birthdya money) and is now saving for a toy he wants.

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