How much pocket money for your nine year old?

[EnglishGirlApproximately]

Just that really. Starting to wonder if we're really tight!

@heymammy bless him that extra pound will go a long way

Dd8 currently gets £2 per week.
Ds13 gets £5 per week

I must be a horror of a mother.....

My ds who is 8 gets 5p for each correct word on Fridays spelling test.
10p for getting breakfast bowls ready.
10p for clearing the table after dinner.
50p for doing his homework on a Friday night without complaint and 50p for tidying his room and putting his washing away. So that’s £3.20 he can earn each week but if he doesn’t do his jobs l deduct his pocket money.

I do also save £5 a week for him the bank each week.

@CharlieParley that's really useful thanks. DS doesn't need an allowance as such as we pay for things like his magazine subscription, clubs, tuck shop at Beavers etc. but like you I think its never too early to learn to manage money. When we first introduced pocket money he bought a rubbish magazine with it the day he got it without fail, but as he's got older he's realised that saving gives him better rewards if he's patient! We save for his future by transferring his child benefit to a separate account and topping up as and when so this money really is about day to day spending and learning to wait for something you want.

@EnglishGirlApproximately yes both he and we like the card. He likes checking how much he has on it and if he gets given cash by grandparents etc he gives us the cash and we transfer it for him. He uses it for things we won't buy like minecraft coins or a toy he wants that I think is too expensive. So it has learnt him that if he wants something he has to save for it. For us it's really convenient using the parent app as I can transfer money easily and set 'chores' which are mainly daily reading, getting dressed quickly, taking plates away so nothing major.

To me £5 a week seems excespsive.

They've always had £5 a week since they were about 5, but now they're 13 and 10 I need to change it. I'm thinking of making it £10 a week each onto a Go Henry card bit buying them less other things as I tend to buy them lots of extras. Then they can have a go at managing their own money.

I don't give a lot as I want them to learn to save up for things rather than being able to buy themselves a big treat every week.

I don't pay for chores/cleaning their bedroom as those are things that just need to be done, we all help each other.

I give cash as it is easier to learn to manage money when you can actually see and handle it!

@AlwaysLatte

They've always had £5 a week since they were about 5, but now they're 13 and 10 I need to change it. I'm thinking of making it £10 a week each onto a Go Henry card bit buying them less other things as I tend to buy them lots of extras. Then they can have a go at managing their own money.

What kind of extras? £10 seems a lot but it depends what you expect them to buy themselves.

We bank with starling and our kids have cards/accounts within our accounts. I highly recommend.

£5 a month for my 10 year old, into bank account. Usual chores like dishwasher, a turn a washing up with siblings, occasional hoover all included but washing the car would be given extra. They rarely spend it, maybe the odd book or souvenir back when we went anywhere!

My 12yo gets £4 per week plus £5 phone contract. He just buys sweets drinks etc when he is out or packs on FIFA or other games (ALWAYS asks first) He also pays for his PS live yearly and other things like footballs if he fancies a new one.. When he was 9/10 it was £3 per week plus phone. He has a Santander current account with a contactless card so it goes directly into his account and he spends it when he needs it.

Nothing. He gets most things he needs. If he wants something he can ask and within reason he gets it. And I want him to do chores as part of being in a family. I never got pocket money either. When I was 12 or so I got given some money for lunch and so on. And I left home at 18 (went to another country) so I had to learn money management quickly.

9 year old DD gets £9 a month. So, however old she is in pounds, each month. In coins so she can divide into spend/save/donate jars.

I started when she was 3 or 4 and we went to the market once a month, she was allowed to treat herself as long as she asked herself and get the change, worked out what she wanted according to value, and said please/thank you.

Both my 7 & 9 year old have 4 quid a week paid into their gohenry account

Yr 6 gets £10 a month and yr 8 gets £15 a month. I’ve always said I will increase when they need more, as I was unable to do the same as my peers due to lack of my own money when I was a teenager. However, they barely spend any of it atm, except yr8 buys random downloads for Xbox. They also have savings accounts where I’ve put in £50 a month each from birth.

Mine gets £2 from me onto her GoHenry and £2.50 cash from grandparents. I don’t pay for chores to be done. But if she does something out of the ordinary, unasked then I usually give her something. She’s very good at saving but also likes to buy Robux and in normal times, have a splurge in Claire’s accessories. She sometimes buys crisps/sweets from the local shop.

My 8yo and 7yo get £30pcm so just shy of £7 a week. They get it on DHs payday and then they decide what to do with it. Mostly
They either spend a bit on tuck and save the rest. I find that giving them it in one monthly sum makes them think more carefully what do with it and they don’t spend it nearly half as much.

I think it also sets up the expectation of being paid monthly and if they run out of money in the first week they’ve got 3 weeks to wait.

I also find I’m spending less on them with ‘treats’ etc because they have their own allowance and I was frittering money on them left, right and centre.

@Atalune i Bank with Stirling and have looked at this before. Would you saybits worth the cost?

@Fucket I agree with doing it monthly for the same reasons as you. As he has monthly pocket money now he knows he has to wait if there's something he wants and is starting to understand pay day and budgeting.

My two are 11 and 8 and don't get any pocket money! They get £50 per month into their savings account.

I'll start giving DS1 a monthly allowance from September.

For those that give a monthly amount - do you do it in cash?

My 11yo gets nothing (we start pocket money at secondary age).

I would think £5 a week.