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When to start pocket money and how much?

(10 Posts)
lexcat Fri 01-Aug-08 20:47:55

Dd age 7 wants pocket money and have told her her has a few things to do in return round the house. Was thinking 50p or 70p, 10p per year.
Just intrested what other's do.

MarkStretch Fri 01-Aug-08 20:48:51

Per year? That's a bit tight.

mamabea Fri 01-Aug-08 20:51:16

if she saved for 10 years she could buy... anything she liked from £stretcher!

mamabea Fri 01-Aug-08 20:52:18

sorry Lexcat. mine are too young to begin, but agree with you that would encourage 'earning' it

Smithagain Fri 01-Aug-08 20:53:03

We've just started - DD1 is six. She's getting 10p per year of her life - so 60p per week.

It seemed like the right time for her - she can add, she can recognise coins, but she has no conception of what things are worth. I think it will help her from that point of view and I'm very interested to discover what she does with it. She's already started a list of "things Id liek" grin

WilfSell Fri 01-Aug-08 20:54:34

We pay one pound per year of life per month - so DS who is 9 gets 9 quid a month. But it is paid into a bank account so he can't get to it easily -heh heh and he has to do jobs too...

MarkStretch Fri 01-Aug-08 20:55:25

My dd is 6 and she has a morning routine which includes getting herself dressed and books and bags ready for school and she gets £2 a week.

MarkStretch Fri 01-Aug-08 20:56:08

Which she spends on a magazine, every week, with a piece of plastic crap on the front, which then breaks.

roisin Fri 01-Aug-08 20:57:27

We pay 10p per year of age too.
But rather than handle cash we have a little book that we write it all into. Also if they get birthday money it goes in the book. That way it encourages them to save up for something sensible rather than blow it all on sweets or junk.

lexcat Fri 01-Aug-08 21:09:27

Sorry meant 10p per year of her life.

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