Is 4 too young for pocket money

[Namechangeforpom]

My son is 4 nearly 5 and I was thinking of starting to give him pocket money. My DH thinks it’s too young but I think £1 a week would be reasonable at his age…
when did you start? I honestly don’t have a clue when the norm is 😂 TIA

For the sake of £1 I don’t think the ‘norm’ matters. Nothing wrong with getting him to tidy up his room and put his plates in the sink, and give him £1 for his piggy bank.

As per previous poster pocket money should be a reward for a small chore/job. It teaches them that money has to be earned and is a good lesson to learn whilst young. Simple and small jobs, making his own bed, helping parents with small and safe jobs around the house/garden such as watering plants outside in summer etc.

We started pocket money at a similar age. Soon as they were able to start learning about the concept of money, saving, value of things and working to earn money.

he’s very helpful around the house already without the money incentive

good to know maybe we’ll give it a go!

Just as an alternative view - I never gave any regular pocket money or paid for jobs - later on pocket money all tends to disappear on sweets and fortnight games passes. I bought them what they needed and gave cash for specific purposes like the cinema, meals out etc. I bought sweets and games passes but in my terms…

For my kids it worked, they are probably better with money than me. I would propose that you start a pension, open a children’s isa or do some regular saving instead. Later on add a current account and when they get money at birthdays and Christmas they decide how to allocate their spends.

@Fleakster as he gets older I’d definitely consider changing things to better suit his wants/needs
We have an Isa for him which we contribute to monthly and so glad we do ❤️

Great to see your latest post. I was about to say pocket money should never be dependant on standard household chores. Chores are just part of living in a family unit - everyone pitches in.
Big stuff (when older) like cutting grass maybe, but not putting plates in the dishwasher etc.

No harm in starting pocket money now - but make it clear what it is to cover.