What would/do you do? Pocket money..

[Mywifeandkids1]

Want to get a Gohenry card for DD 8 so when she earns money or receives money she can save it up and spend it sensibly rather than the odd £1, £2 that just end up lost, but unsure what to do about youngest DD 4.... id feel awful DD8 buying treats with money she’s earnt etc and youngest getting nothing, but the point is DD8 is older, is more responsible and is of an age (I believe) to start learning about money and money management.. what do you do in these circumstances ? Match dd8s money when she spends it so DD4 gets the same? Or teach them their time will come when they are older ??

I personally wouldn't pay for a goHenry card and would give cash at that age and then get them a bank account at age 11 which will come with a bank card and will be free. We just used a piggy bank to begin with and that would work for both a 4 and 8 year old.

I’d go with the “their time will come” line. We had different amounts according to our age when we were little.

When your youngest is 13 what will you do about driving licences for the elder child? Will you not pay or help them out as the 13 year old can’t get a licence?

You treat them fairly not the same

@ivykaty44 I agree with you on that, I said the same to DH, Id just feel awful seeing one get a treat and not the other 😬😬

@dementedpixie no, she’s always been cash but ends up losing it, swapping it at school, it’s also dirty and she likes to ‘play’ with it. I’d rather use a Gohenry card but thanks....

@Mywifeandkids1 why don’t you get a hyper jar kids card. The same as GOHenry but free.

@AldiAisleofCrap thank you!! I’ll have a look at those

Tech her not to lose money. Sounds a bit blunt but at 8 this should be a reasonable expectation.

"You treat them fairly not the same"

100% this. Tech the younger one that they will get the same when they are older.

@SkinnyChicky don’t agree with that, even adults lose loose change, hence people say look down the back of the sofa 🙄 she’s only 8

I started giving pocket money when my children were 5 and 6. Initially about a pound, then two ( equal to as we live abroad) I bought wallets with lanyards and they still use them 4 years on. It's only really for sweets, icecream and comics plus the occasional school related fete/pizza day/toy sale. They have been isolating for nearly 2O weeks so have spent nothing. I tend to "borrow" from them often for random change and then divide my change between them.

Go Henry cards are great and I think worth the fee. My kids are now 12 and 14 so old enough to have a 'proper ' bank account but they dont want to change and I'm happy having the oversight of what they are spending.
More so having read recent post about squares and deets etc.
I would agree with treat them fairly not the same. They will always have some degree of difference due to their age so they will have to get used to this.
My youngest was so jealous of her older brother for having a bank card when she was still 6 and not old enough.
I agree about it being good to stop them losing the change. They can see it in their account building up it becomes a bit more real than having the odd coin.
Most banking is done online now rather than cash so I think it is good that they are used to that from a young age too.

@littleblackno thank you! I have read up on all the cards and I agree I’m happy with the £2.99 a month if it teaches her not only the value of money but also how to use a card! Completely agree with you about when she’s older too! It’s a scary world out there for kids now! My eldest is usually jealous the youngest gets treated more like a baby than her so this can be a thing for her that only she can have because she’s the eldest. Thanks for the advice