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Pocket money/allowance for teens - what do you do?

(10 Posts)
QueenOfTheSlipstream Mon 17-Feb-14 14:00:02

When my children were small we gave them pocket money based on their age: 20p per year. Two of them now have mobile phones and they get £10 credit per month (they do jobs for this). I do tend to give a few quid extra now and again, like today I've given DS1 £10 to go into town on the bus and go to the cinema, but this isn't a regular thing (we live in a v small rural town, not much to do!). I buy all clothes and shoes as necessary.

Now DS1 is 15 I'm wondering whether we should change the way we do this - £3 a week seems mean! And I want him/them to learn some budgeting skills and take responsibility for their money. So I was thinking of giving him an amount per month and he has to pay for his phone top-ups, going out (cinema, bus fare etc), and clothes (not school uniform/shoes, I'll cover that for the time that remains).

So, what do you do? And if you do something like this, how does it work? Will I end up with a child dressed in rags because he blew all his allowance on the 1st of the month on whatever gadget he deemed essential to his existence that day?! And if I tough that out, will it work?

KhloeKardashian Mon 17-Feb-14 14:01:47

I put money into an account they control themselves. A set amount each month. They have learned the meaning of money and how to handle it. One went a little crazy spending money for a few months the pair of them learned from that, and are now sensible.

QueenOfTheSlipstream Mon 17-Feb-14 14:25:01

That's encouraging, Khloe, thanks. They have accounts with debit cards so I'd plan just to transfer it. I was thinking maybe £40 - I;m giving £22 anyway. Is that too much? Not enough? I want to encourage him to get a job but the town we live in is tiny, many call it a village, so there aren't many options and a lot of teenagers fighting for them.

KhloeKardashian Mon 17-Feb-14 14:28:19

I have been giving £50 a month. This has been clear to them is all there is going to be saved for them. This account is their university savings account. I thought they can't work until they are 16?

I am a bit mean in that they do not know yet that I have a secret ISA for each of them which also has £50 a month going in the last year wink for university.

AnimalsAreMyFriends Mon 17-Feb-14 14:29:21

My ds1 is 14. I pay £20 a month into his account & his phone is on my contract. He has to pay for anything over and above what I would buy the others - so if he wants to go to Subway for lunch, instead of having a packed lunch, then it comes from his allowance. I buy his clothes, but if he wants e.g. clothes from Vans / Superdry etc, then he saves for them himself.
Tbf to him, he is very good at saving up & is currently waiting to go and buy himself a Bose Soundlink, with his saved up allowance!

KhloeKardashian Mon 17-Feb-14 14:31:31

I do find that if you give them an allowance you do get them wanting to go shopping with you and spend time with you voluntarily. They have worked out if they go shopping with me I will buy them things like lunch/clothes etc and they don't have to dip in to their own money.

BackforGood Mon 17-Feb-14 14:37:45

Once mone got into secondary, they have had £1 per month per yr of age, so my 12 yr old gets £12, my 15 yr old gets £15 and my 17 yr old gets £17. They've always paid for their own phone credit. We pay for subs for things they belong to, and clothes / toiletries etc.
Once they've got to 13, they've chosen to go out and earn a bit more for themselves. This hasn't affected their pocket money.
Yes Khloe they can work from 13 (restricted hours, but can do it).

QueenOfTheSlipstream Mon 17-Feb-14 14:48:05

Oh this is great, thank you all smile. Lots of ideas to mull over. I like the idea that they'll suddenly want to spend more time with me! Actually, DS1 is so lovely, great company, DOES hang out with me and is generally very willing to pitch in and help out. My generosity to him may backfire though when applied to much-more-moody-monosyllabic DD!

QueenOfTheSlipstream Mon 17-Feb-14 14:50:43

God, that sounds like I have a favourite, or would treat them differently blush. I don't and I wouldn't. DD is 13 and just much harder work at the moment...[sigh]

VivaLeBeaver Mon 17-Feb-14 14:52:44

Dd is nearly 13 and gets £22 a month for stuff she wants.

I top up her phone for her as well, she hardly uses it. I buy essential clothes and toiletries. So if she's needing new tshirts, leggings, etc i pay for them.

However if she sees a top she likes and has loads that fit then she generally has to buy it herself. And fancy face masks from Lush, etc she buys herself.

If she was going out with friends to town which isn't often I'd give her another £10.

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