Pocket money for 12 year old

[Ilovepugs2017]

How much pocket money do you give your children?
My son has £10 a week, was just wondering whether this is too much/too little.
Obviously everything is more expensive these days but it with the COL things are really tight here too.
I pay for his contract sim every month. Dinner & snack money for school. Any clothes/shoes he needs etc
He does reluctantly do some chores but annoyingly wastes majority of his money on drinks and sweets even tho I’ve encouraged him to take drinks out with him to save spending out on more.

I don't give my ds 12 any pocket money. Instead I pay 10% interest on his 'savings'. I look after any money he receives for his birthday or Christmas and keep a spreadsheet monitoring how much he has and deduct purchases made on his behalf. On the 1st of each month I give him 10% interest on the balance.

I'm doing it this way because I was terrible with money...always frittered it away, never understood the point of saving it. This way my ds has learnt the value of compound interest on savings. He always weighs up whether he really wants to buy something, or continue to save it an earn more interest. Many times he decides he'd rather keep earning interest than blow all his savings.

Generally I pay him between £5-£10 a month in interest. This might not sound a lot but at his age he really has no need for any money as he would just spend it on endless 'wants'. I cover all expenses for things he needs: toiletries, phone/credit, stationery, clothes, etc.

He doesn't go out independently with mates yet, once he does I'll probably start giving him some extra money - but certainly won't be doing that before I have to! Likewise I don't give him money to spend on food at school - he takes a packed lunch.

When I started working and having to pay my way.

Not everyone goes mad and gets in debt when they can. My parents are financially sensible and it rubbed off.

I give my dd 11 yrs the family allowance so its just over 90 per month. I buy the clothes,shoes etc and phone contract,She uses it for cinema trips,bowling etc.She helps out when asked but she doesnt have set chores.

£10 a month. He saves it until there is something that he really wants. I still give him money if he wants to go out with friends.

9YO DD gets £10 a month from us, plus grandma gives her £10 before every holiday from school. She’ll normally make me buy her books from eBay/Amazon with it, or milkshakes in town. She’s quite good about saving a bit each month, as she’s expected to buy presents for close family, and she also loves a good charity shop rummage. She also gets the money from her old clothes on Vinted if they sell.

DS is only 6, and doesn’t get pocket money yet. He’s enjoyed spending his birthday money recently, but doesn’t really have the concept of what it’s worth.

Chores, she has to wipe the table every night, they both have to keep their rooms tidy, and put their own clothes away.

13year old ds gets 30 a month from us and 10 from grandad paid straight into his bank on the 1st of the month he's quite good at saving up for things he wants he usually spends his on xbox games, dd 16 gets the same and has usually spent all hers by the 2nd of the month!

My 13 year old gets £12/ month. At 12 he was getting £9/month.
His phone is PAYG but mostly stays at home. I pay for a Beano every week, clothes and occasional treats out.

My 16 year old has just gone up to £50 /month (after consultation on here!).

Can I ask what card people are using for their kids? Only options I can see come with a monthly sub.

Wish Monzo did kids cards!!

Chores (not linked to pocket money)

Half dishwasher (with older DS)
Lays table
Cooks tea once a week
Does some of own laundry
Closes curtains in winter
Empties bins

That's an awful lot of money for an 11yo!

Hyperjar is free and Rooster is free if you are with the Nat West group of banks

My dad.

Well he did the local shop has now stopped delivering.

I think @Sarahtm35 means jobs around the home.

I thought I would be considered stingy coz money is tight but this thread has made me feel a bit better. My DS14 gets £20 a month. I may give him an extra couple of quid here and there if he’s going out with friends so he can grab a drink / snack.

Anyone over 11 can have a normal kids current account with debit card. Most of the banks offer them with no fees. My DC use Nationwide which has been excellent for them to get used to saving from their current account using online banking and as they get older can convert to a student account as well.