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A few questions on pocket money.

(16 Posts)
Skribble Tue 08-Feb-05 12:14:49

Wondering what kind of arrangements you all have for pocket money.

What age and how much do you give?
Do they buy what they like or do you have a little control?
Do you save it up for them and choose how it is spent?
Where do they spend it what do they buy?

Two reasons I am asking firstly I have two kids and I am a bit haphazared about pocket money, also I have started a little buisness selling sweets and stuff at fairs and I am considering a shop.

iota Tue 08-Feb-05 12:32:41

ds1 age 5 gets a pound
ds2 age 3 gets 60 pence

They put it in a moneybox on the shelf, and spend it on what they like - always toys when we go shopping in town. This has the effect of making them realise the value of money and that they can't have every toy that they see.

They get deductions from pocket money for bad behaviour instead of doing a star chart or pasta jar.

Skribble Tue 08-Feb-05 12:37:38

Thanks Iota.

The kind of shop I would like is a pocket money toy shop, but with good quality stuff mostly under £5.
I want the shop to really appeal to kids rather than just parents. No glass cases full of gift items etc.

(Sorry spelling business )

roisin Tue 08-Feb-05 14:02:54

My boys are 5 and 7. They get 25p each, but with plenty of opportunities to 'earn' more - rewards for good behaviour and for doing chores. Usually end up with around £1 each on average, but it does vary a lot.

Actual cash doesn't change hands, instead it is all written in a book, and they are encourage to 'save up' for something. (Gifts of money from other people for birthdays and so on also go in the book).

They are allowed to spend maximum of 20p each Saturday on sweets ... but rarely choose to do so.

They don't have complete freedom of choice; I do veto some things. But I am happy for them to buy things that I wouldn't choose to buy for them iyswim.

They tend to buy far more soft toys than I would have expected! Also buy Lego, games, books, Top Trumps, that sort of thing.

Skribble Tue 08-Feb-05 23:59:52

Thanks Roisin funny my 8yr DS still loves soft toys. He collects the Ikea mini ones.

stupidgirl Wed 09-Feb-05 00:06:56

My ds who's 6 gets 25p a week, dd gets 10p, although I'm thinking of increasing it. It is not dependent on chores, nor behaviour, although they lose money for bad behaviour. They have control over what they do with it, but so far both are very keen on saving, and mostly it gets put away in their money boxes. Ds has bought a few bits (usually saving up for bigger things). Dd has never spent any of hers.

Skribble Wed 09-Feb-05 00:19:08

Thanks stupid girl,

anyone have any opinions on the type of shop I am considering. I was going to have pick and mix, soft drinks etc as well as the pocket money toys.

How do you feel about the toy sweet combo. Are you happy with your children buying sweets with pocket money or would this put you off coming in so you don't have a battle.


stupidgirl Wed 09-Feb-05 00:28:29

Hmm, not sure about the toys and sweets combination. My kids are allowed sweets, but we usually stick to chocolate rather than pic'n'mix type sweets with all their artificial colours and sweetners etc. The same thing goes for soft drinks - mine aren't allowed sugar laden fizzy drinks, and I think tbh, I would avoid a shop which sold these things alongside other things which might appeal to my kids. Sorry, it's late and I'm not sure this is making much sense.

Skribble Wed 09-Feb-05 00:44:46

I know the colours are a bit of an issue in sweets. At the fairs I have always sold water, flavoured water and fizzy juice which is free from colours added sugar etc as well as drinks like capri sun.

I was going to go for a whole shop dedicated to pick and mix but decided toys were the way to go. The pick and mix would be only a small section. I think I would put sweets a little away from till so mums can choose to steer past it. It goes against all merchandising advice but as a Mum I don't think its fair.

Any idea for healthier options I could sell?

stupidgirl Wed 09-Feb-05 00:52:04

To be completely honest, if it was me I would be inclined not to include food at all. Toys and food are separate things, and I wouldn't be entirely helpful with them being together, even if not near the till. I think it would encourage unhealthy associations with sweets and unhealthy food as treats, which might put me off. Also what about people with children who have allergies or special diets?

Skribble Wed 09-Feb-05 01:28:52

Its a good point Stupid girl, sweets are really how I started my business and the toys are a new thing.
I have always had full lists of ingredients availible even for pick and mix which usually give no info.

The likely position of the shop means drinks and sweets will be big lunch time sellers. Not sure if toy sales alone will be enough. I would happily reduce amount of sweets etc if toy sales are good enough, but I realise I may jeapordise toy sales because of sweets.

I am thinking of braving the sunday market, hoping to do well as main competition sells lots of fake/ toy guns alongside really tacky toys and pick and mix stall looks really grotty with no hand wash for staff. I will be using a trailer with hand wash etc so hoping to create a good impression.

stupidgirl Wed 09-Feb-05 01:33:42

Well, it's only my opinion. Bump this up again when there are more people about and they might completely disagree with me. What about asking some of your existing customers?

I guess it's a case of seeing what works for you. Good luck in whatever you decide.

KateandtheGirls Wed 09-Feb-05 03:14:12

My 5 year old gets $1 a week (we're in the US). So far she hasn't spent any of it (we haven't been doing pocket money for long) but she's saving it to buy her sister a birthday present in March [proud emoticon].

I wouldn't let her buy sweets with her money. She gets "treats" sometimes when she has eaten well and/or been a good girl, but it's not something she should have to buy for herself. Pocket money is for something extra.

bobbybob Wed 09-Feb-05 03:43:09

Even with a list of ingredients pick and mix are no good for children with allergies. You have no way of knowing if a banned sweet has come into contact with an allowed one (there is always the danger that one has been in there and then put back in the correct place.

DS get a $1 a week when his grandparents stay with us. It goes into a tin and is then spent on holiday or weekend away. The reasoning is that we then only have to bring a toy back from holiday, not take it as well. He is almost 2.

Skribble Wed 09-Feb-05 14:46:41

Thanks Bobbybob and Kate

I know the pick and mix isn't suitable for kids with allergies most of the sweets contain colours but none of them are "banned". I try to label as much as possible and make sure I know which sweets I can recommend.

Its really helpful to hear what everyones thoughts are regards to pocket money and sweets.

Got first stall of the year in March so I best start getting orgainised. Can't find key to trailer .

Skribble Wed 09-Feb-05 17:48:59

Lets see if this topic takes off with the evening Mumsnetters

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