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Original poster

Pocket money

5 replies

FedupofTurkey · 01/08/2013 14:05

How do you pay it? We've decided to start giving the kids a bit (their age) as monthly pocket money. 2 of the kids are awful and would spend it all on day 1 then have nothing till the next mth! Whereas one will just save his! Would you give them it all in one go or a bit each week (which will be a pain making sure i've enough change and won't seem much but will last longer and hopefully teach them the value of money a bit more instead of constantly asking for stuff!

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Original poster
FedupofTurkey · 02/08/2013 08:27

Bump

OP posts:
HappyAsASandboy · 02/08/2013 08:46

I would pay it weekly, and round it up/down rather than trying to make it match their ages. The last thing you want to be doing is handing out 88p to one chd, 96p to another!

I would also think about whether it is sensible to give an amount that matches their age. Does an 8 year old really mead/deserve more than his 6 year old brother? When they are 10 and 8? Seems a bit strange to me. Unless there is a large age gap, say 10 years old and 5 years old, where needs/wants are quite different, I would consider giving them the same amount.

lljkk · 02/08/2013 08:52

I pay same amounts (system) as OP but pay out only every 2 months so they will hopefully buy one nice thing rather than fritter it (sometimes that strategy works).
I don't bother with allowance below 6yo or so, they don't understand it, anyway.

PearlyWhites · 02/08/2013 08:56

My younger dc get half in bank account monthly £10 and £2 a week in money box. They spend money box money and are encouraged to save money in the banks.
My 14 dd gets £40 a month in bank
but has to pay for activities and non essential clothes and mobile.

lpickrell · 08/08/2013 18:02

We tried giving pocket money to our 3 children aged 4 to 8 but they either lost it or took it from each others money boxes. In addition, when we're out they'd never have their money with them so we'd always end up paying for the 50p for the sweets etc

Started using this www.moneybox.io so they have virtual money boxes ... no more taking from each other and when we're out I can deduct what they spend while giving them the hard cash to spend in the shop ... Also, we can reward them by adding virtual money for being good/doing jobs etc

It's pretty simple and free.

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