To ask what the going rate is for a 7 year olds pocket money?

[Callistone]

We've been doing £1 a week but that doesn't seem quite right now, she can barely get a magazine s month and it's not enough to teach her to save. What's the going rate nowadays?

My 8 year old can earn up to £5 a week. Usually he averages £3/4

A very sporadic £5 for doing numerous jobs. Now thinking they shouldn't be paid to do jobs as it gives the wrong idea. Parenting is a minefield!!

£1 a week for my seven year old . I hardly buy the dc magazines, maybe 4/5 times a year. Not with pocket money though.

We give £2 a week. We don't link it to chores which they have to do anyway but their room has to be tidied up on a weekend before they get their money.

Mine are 6 and 8!

We've just started giving my 5 yo £5 a week. As you said, we wanted it to be enough to be worth saving for something big. It seems a lot, but I based it on the cost of a magazine a week.

Watching with interest. My sons 9 and doesn't get pocket money but doesn't do any chores other than keep his room tidy. He has money from birthdays and Christmas saved up in his money box which he uses if he wants a toy etc but I would like him to start having more responsibilities. What do your dc do to earn their pocket money?

DS 8 get £2, he's been getting that since he was 4, maybe it's time for an increase!?! He rarely seems to do much with it although it does mount up until the day he realises he has enough to buy something.

We’ve just started £3 with them LOSING money for certain things

I suppose it depends on what you would be expecting her to buy with the money. Comics are around 4 quid a go so if she wants to have a comic and you say it has to come out of her pocket money then you need to up the amount. Does she ask for things a lot? What type of things. Little things that children seem to want regularly are comics and collectables like Shopkins or Pokemon/Football cards or Lego Minifigs. Generally things like that are around the £2 - 5 mark so it all depends what the money is for. Personally I always just bought comics - they have never come out of pocket money.

I don't expect my son to do certain jobs for pocket money. He should help a bit because he's part of the family imho.

He can theoretically lose it for poor behaviour at bed time.

We do the pasta system
Start the week 20 pastas put in a cup. Each pasta worth 10p so £2.
Pastas are lost for poor performance, rudeness or not following instructions.
Bonus pastas can be won for making line up at school, random acts of kindness , going up a level in reading / swimming etc.
Averages about £1.90 a week and is the most successful system we have used. They are 6 and 8

Mine (10) gets £10 a month if she's been good/helpful.

I don't count odd ice cream, £shop book, if I did probably about £20 a month.

We started giving it because he was showing more interest in buying stuff, and I thought rather than saying no to stuff it was better to give pocket money so he could make his own choices. I still buy the occasional thing if I feel like it.

@absolutelyknackeredcow

I like that. I could use it for what I’m doing with mine who are the same age. Right now I’m telling them they have a ‘balance of £3’ but I think it would be good if they could visualise it.

We give £5 a month to my 6.5 yo. It's unconditional, he does help with chores but completely unrelated to money or rewards.

I don't agree with losing money for bad behaviour. That's a long way road to resentment.

www.google.com/amp/s/sarahockwell-smith.com/2018/04/16/when-and-how-should-you-handle-pocket-money/amp/

Hmm. Maybe £2 a week, with the opportunity to earn more sometimes for helping with an extra job?

I do buy her charity shop books and that as I can't begrudge books, so not expecting her to fund everything. But yes, if she wants those annoying cards or little toys then I'd quite like her to learn that they eat up your money without giving much pleasure back?

My two DC 8&9 don't currently get pocket money but we are going to start (late I know) as currently they have no sense of the value of things and how much all their 'treats' are adding up to and consequently are really ungrateful little gits.
Thinking of £5 each and using a pasta-style system. Thanks absolutely knackered cow

absolutelyknackeredcow

I love that absolutely

We will call it Pasta Pays™

Brilliant! Thank you from my 9 and 7 year old.

It really does work - and is much better punishment for bad behaviour than previous ' you are going to lose TV for a week' or similar which we never stuck to.
You could, of course, adjust the amount of pastas or how much they are worth.
I make them add up at the end of the week (good for maths).
Did make me laugh though yesterday as I gave them a warning in a shop ' do that again and you lose a pasta' and as I was walking out I heard a whole group of customers discussing what on earth I may have been talking about

@absolutelyknackeredcow...the pasta system.. that is genius! Did you make it up yourself?

Mine is 5 and gets £1 p/w but when you consider a magazine is nearly a fiver, it would take him weeks to save for one so I will buy occasional treats like this and then give him the opportunity to save for bigger things. At the moment he owes us 20 weeks of his pocket money for a toy he wanted and that's going to be tough to enforce as 20 weeks is 5 months ffs! No pocket money for 5 months is going to be hell!

I give £5 a month, so it comes in a bigger lump- seems to make saving easier.
But I also pay for a monthly magazine subscription.

We give 50p per year of age after reading previous threads a while a go. So 7 would be £3.50. We also ended up getting them go henry cards as we were so bad at having cash.

8yr old DS gets £8 a month. He's a saver rather than spender though but he'll occasionally dip into it to by himself a Funko Pop figure or a magazine.