When did your DC first get pocket money?

[booklover164]

And how much?

DS1 got £15 a fortnight (he saw his dad eow until about 15) then when he started being at home every weekend we extended that to £15 a week. A bit more than average I imagine, but he went to secondary several miles away so it factored in train fare. Pocket money stopped when he started working at 17.

DS2 is 15. We've never really given him a set amount, instead he has the bank card I've always had that gets his CB money put into it. So he receives £100 a month, however, he does have to pay to his own haircuts out of it (£20) and depending on how they fall, he might have to cover two in a month. He also has to pay for his Xbox subscription thing out of it. So all in all he probably gets about £60ish a month

My daughters never had pocket money, they just money if they needed it to go somewhere or to get anything within reason, we saved all the child benefits and they all had there’s when they left home and needed it for a deposit or something else, one of them brought a car, she only had 5/6 proper lessons with an instructor because her boyfriend used to let her drive his car so she didn’t need much money for lessons

DS is 7 and gets £1 tier to chores. So some weeks it's £5, some weeks he does more so it's closer to £10. He has this loaded onto a spare Monzo card I have.

Tied

My Dad gives DD about £20 in coins every time he sees her (once or twice a month), he’s done this since she was 3. He also puts £100pm in her ISA but he can afford it bless him. I think that’s a lot though!

Because of this we haven’t started yet, she’s about to turn 5. We will probably start at 6 when she can have a debit card, probably start at £10 a month max.

She absolutely point blank refuses to spend it at the moment and says she is keeping it until she’s a grown up and can buy whatever she likes 😂

11 when they could get a bank account and debit card and they started going to the shops more on their own. £20pm on the 1st.

DD1 - 7yrs old
DD2 - 5 yrs old
£2 a week

I was thinking about this. What chores are on the list?

DS, now 8, gets 50c/year of age. So he gets €4 a week. Half goes into his bank account to save, and the other half goes onto his pre-pay debit card. It is dependent on leaving the house on time in the morning, having made his bed and brushed his teeth without a fuss. He gets 50c less each time this doesn't happen. He usually gets it all, but it can go down to €3 a week.

It's been useful in that I'm not late for work, and he is more appreciative of how much he has and what he wants to spend it on. The plan is to add an additional task each year. Maybe washing up once a week, or feeding the cat. Not sure yet!

DS from the start of primary school
It was 50p a week, I think
It’s now £10 a month and he’s at secondary school now. He rarely spends it but he saves up, combines it with birthday/Christmas money and buys something when he wants it.
We deliberately follow the idea that giving kids regular money allows them to get a sense that they can spend some or all now or save some or all for later. It’s a bit of financial education and a bit of financial freedom.

I found this really helpful and agreed with her thoughts that it shouldn’t be related to chores (this is obviously personal choice and lots do link it) https://sarahockwell-smith.com/2018/04/16/when-and-how-should-you-handle-pocket-money/
so dc have had £10 a month since once was 4.5 and the other 6.5. I use Rooster to keep track of it and they get top ups when they get some bday money/Christmas money etc. or if a gparent sends money for holiday spends.
It has definitely helped at shops/souvenir places to be able to say you can buy something with your money and you do see them think twice or ask how much they’d have left and put it back/choose something cheaper so I can see the value in starting young ish.

Dc have had pocket money since they have been about 3 yrs old... £1 or £2 a fortnight then when they got to school age they get maybe £20 a month