Pocket Money

[bumpsadaisy11]

Good Evening Lovely Ladies,

A bit of advice needed. My son is 11 years old & we have decided that it is time to start giving him some pocket money.

We have no idea what the going rate is these days! Any advice would be much appreciated

11 at secondary or 11 at primary?

When DDs were in y6 they were on £2 weekly in cash.

When they went to secondary this increased to £15 monthly direct to building society with a cashpoint card.

Around y10 increased to £25 monthly with a debit card.

More independent socialising might have mean more money earlier. They pay for PAYG phone from their own money, token B-day and xmas presents for 3 immediate family members.

I don't believe in kids having too much money to waste as it doesn't set them up well for budgeting when at uni/working. From similar threads we are on the tight side when it comes to amounts.

Hi @TeenTimesTwo, Thank you for that. He started year 7 at secondary last month. He doesn't socialize or go out at the moment, but we feel that it is important to teach him the value of money. i.e if he wants to buy something, he will need to save up for it.

My dd is 14 and gets £1 per day paid fortnightly (on the week she’s at home not at her dads) for doing a job such as emptying dishwasher, hoovering the stairs, hanging washing out. Paid on every other Saturday at 11 am on presentation of a tidy bedroom, into her bank/debit card

She does get other things paid for her as extras though, this is just her personal spending money. It works quite well although she is very laisez fair about the whole thing and usually gets about £3 or £4 a week because she doesn’t do the jobs!

Sorry, should add- that’s one job a day, Not a fortnight!

£5 a week seems to be the going rate for that age around here.

All mine got £10 a week plus £10 dinner money for snacks on top of packed lunch. I thought I was rather frugal.

My ds gets £10 pw from me and another £10 pw from grandparents. He pays £20 pm for his phone and any socialising.

Thank you all, you have certainly given me some food for thought!

I was thinking £5 a month, so I was completely out of touch!!! My poor, sweet boy!!

#harshparenting!!

Mine started with pocket money aged about 6, 50p per week. Saved until we went into town then carefully spent in a charity shop.

Things to be clear about:

• is it job or behaviour dependent
• what do you expect it to cover
• are there any rules on what they can't buy with it

Mine gets £6 a month and doesn’t spend it at all so I don’t see any need to increase it tbh!
We started at about 7 on 70p per week, increasing 10p each year. Then when he was 10 I suggested £5 / month was easier than £4 some months and £5 other months.

My parents started putting £20 per month into my own bank account when I was 12. When I got to about 15 and started going out more my mum would also supplement it with £5 for a taxi or £5 phone top up every weekend.

£5 a week on a go Henry debit card. He's 11 in year 7.

DS1 is 13 and gets £10 p/w into his Lloyds account; he has a card he can use but doesn't tend to spend masses.

We pay his phone bill through DH's business (it just works out much cheaper) but I don't buy him the 'tat' that I would have bought before he began getting pocket money, he has to pay for that himself. It sounds odd but he's more cautious with his money than he ever was with mine.