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Pocket money going rate

8 replies

MobLife · 02/08/2020 19:21

I'd like to start giving my son some pocket money and am curious to know what the going rate is? Seems to be a mixed bag when I've searched online!

He's 5 coming up 6

OP posts:
MLMsuperfan · 02/08/2020 19:37

One pound times their age per month. Adjust weekly if required

JoJoSM2 · 02/08/2020 19:40

I’d probably make it nominal at that age, eg the suggested £5-6 a month.

For older children with more Maths and money awareness, I’d prefer a more meaningful amount with a clear understanding of what it’s meant to cover so that they can learn some money management.

happysunr1se · 02/08/2020 19:47

I've just started giving my 5, almost 6yo pocket money.
She gets £1 per week on a Sunday if she has kept her bedroom tidy, set the table and cleared away her plate, cup etc for every meal.

InDubiousBattle · 02/08/2020 19:50

My 5 and 6 year old get £3 a week each.

MobLife · 02/08/2020 22:02

Ok this is helpful-thank you

I might start with £2.50 per week and see how we get on
Quite like the idea of the Go Henry card but wondering if he's still a bit young for it

OP posts:
trinibrit · 08/08/2020 10:06

£5 per week divided into two: £2.50 to spend and £2.50 to save in the bank. Made a big deal about taking child to the bank to open their own bank account. Woman in the bank was lovely and 7 year old was very excited to learn about compound interest!

Juiceey · 08/08/2020 17:55

Mine gets his age a week! So now he's on £10 a week as he's 10.

wendz86 · 09/08/2020 08:36

My 5 year old gets £1.50 a week, 9 year old gets £3.50 a week. Increases 50p a year although i imagine may change when they get to secondary age.

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