We're setting up savings for the baby, a longer term savings account and a smaller one that he can use to choose his own toys like a bike and keep saving/ spending from (no idea what age to start the conversations, maybe 2.5 or 3 or 4). I enjoyed "managing" my money as a kid as my parents set up accounts for us very young, so I thought it would be nice to put in something since birth say £1/week and scale up as he gets older. It will also be useful if he gets any piggy bank, birthday or christmas money from family. This question isn't about long-term saving for university, a flat etc; literally just the small amounts for a kid to spend.
However, I have no idea what pocket money is these days. I thought maybe £10 sounds right for a ten year old who might want an occasional cinema trip, meal and toys, so scale down by £1/year so £1/week for years 0 and 1, then £2 at 2, etc. Is that about right, or am I way out? Obviously it doesn't matter how much it is right now, I'm just looking for ideas, and I don't want it to be too much as the idea is for him to learn how to make choices early on. Thanks!