Pocket Money for Small DC 4 and 7

[Postpartumhelp]

Hello

I'm interested in how people approach pocket money for their small DC.

I want to give them cash each week for things like treats from the shop or saving for bigger things like those £8 magazines (I hate those things but they love them).

Do you give your DC cash? If so how much and where do they store it? Or do use card for kids this young?

They've been given the odd £1/£2 coin by relatives in the past but they just end up leaving the coins around the house so I have given them each a little purse to put their cash in.

Ours get double their school year monthly in their bank accounts. I think it’s quite reasonable at primary, will review for secondary. Could halve it to do by week.

Oh @ACynicalDad that's interesting never thought of it like that! If they want to buy something do you deduct it from their balance? Thanks!

There have been many, many threads on this topic over the years. Generally, the answers are all over the place. Some people give tiny amounts, some people give loads and everything in between. Some people tie it to chores but others don't.
I think the best plan is to do what works for you and if there are any comments, stick by that: 'this is what works for me'.
In our family, pocket money was not much of a thing. I gave DD1 £1/week and DD2 50p/week. We often forgot and then weeks later I'd pay them £5 or however much. But none of us was very bothered by it. Relatives often gave £10 or £20 for birthdays or Christmas. DD1 started working at the pub when she turned 16. DD2 has done some very lucrative cat-sitting.
Chores were not part of the equation for me b/c the reward for chores is a functional household.