do you give your children pocket money?

[NordicPrincess]

If so, how much and what age? Do they have to pay for anything out of that or is it just for toys sweets comics etc...?

My son will be 5 in march and im starting to think maybe he sould get some but i never got pocket money when i was growing up so i have no idea where to start?

Thanks :)

ooh and im very proud of myself, ive mananged to save 550 in my savings account! go me ive never had them before :D Feels like im getting on the right track at last !

DD started getting pocket money at 5y. It was £1 a week. It goes up by 50p on each birthday. She is 8y now and gets £2.50 a week.

DD saves hers up generaly for things she specifically wants - most recentl Sylvanian families toys.

She actually still gest bit like comics and books from us anyway, and she never spends it on things like sweets - we provide them. And it isn;t linked to chores.

I have mentioned that I give DS1 £20 a week but atm we only give DS2 50p a day. He is 11 but when he goes to High School he will get £10 a week until year 8 and then the same as his brother.

£2 to 10 yr old
£1.50 to 8 year old

increased by 25p a year at the current rate. but that's purely for treats, they can spend it exactly however they wish.

although we do put the same in a jar every week, we take it to the bank every month normally. so maybe it's more accurate to say that we hand them £4 and £3 each, but they pop half in their jars

my parents did that when we were young, it was a good lesson for learning to save and being forced to weigh up what they want i think

(we do buy everything they genuinely NEED though, of course! they don't have to choose between a new school jumper and some new shoes just things like that book or this book, or that board game vs this board game - luxury non essential stuff.)

DS 15 gets 15 per month. He also gets 10 pay as you go and the odd pound on the way to school. Grandma gives 1.50 per week which she saves up and sends about every 8 - 10 weeks. I still buy clothes, uni and sports equipment and often will give an extra 10 for say, the cinema, ie, HP, but he will save up for non essentials like converse shoes. He also does the odd baby sit and has acted as au-pair for his younger sister (11)in the holidays. DS seems to make and spend money very easily.

DD 11 gets 12 per month and also gets paid a small amount as a chorister. Money sticks to DD who has the ability to sell vouchers etc to ds. DD also gets 3pd per day for lunch and manages to save at least a fiver a week out of this.

DS for birthday will get a bank account and a monthly allowance to be put towards clothes from this Xmas - DH and I have decided 40pm.

started with 50p/week in Yr one, then went up gradually until we've got to 95 p in Yr 6. For this ds only has to pay for his own toys/magazines/DVDs/sweets.

From Yr 7 we do a monthtly allowance starting at £10/months and rising gradually. Dd in Yr 9 gets £12/months: for this she has to buy toiletries apart from the most basic, clothes apart from uniform and very basic everyday clothes, makeup, accessories, DVDs etc

not tied to any chores (they should help out anyway), though I am currently bribing ds a little extra to do typing practice in the evenings as it is a sensitive subject (he needs to type because of disability)

My Ds started getting pocket money at about 5 and I think it was 20p a week... When I got together with dh I had to start giving dsd pocket money too so we worked out a way of taking age into account...

It rose each birthday until they hit 13 and is capped at £20 a month, if they want more then they can get jobs at 13.... Ds is now 11 and gets £16 a month, he saves £6 for long term plans and has £10 to spend but he doesn't always spend it all... Dsd is 15 now and still just gets £20... When Ds is 12 it will be & £18 and then at 13 itvwill be £20... He is already planning a paper round whereas dsd is to lazy to work and so goes without...

We do not pay for mobile phones or sweets or mags and I only buy essential clothes, anything else they buy!

I think it is dp important to teach them to budget!

Dd is 1 and we pay £5 a month into her savings rather than a child trust fund but when she us 5 we'll start the little pocket money too

Sorry it is SO important!