Pocket money for four & seven year old

[sebmum]

When is it the right time to start giving pocket money. I think I should be giving it to my eldest, but then is my 4 year old too young?

I give my 7-year-old a pound a week - because she asked for it and said most children she knows get pocket money (which seems to be true). She has to buy any comics etc out of it. She just wanted a necklace and I said she had to pay for it out of her savings (which she did).

My 4-year-old gets odd bits of money. I buy her the odd comic or gift (I bought her a hairband when dd1 got the necklace, for example).

Both of them seem fine with the situation. If dd2 asks for pocket money (and seems serious) I will give it to her.

I was wondering if I did give pocket money how much it would be. I suggested £1 to oh and he thought I was being a bit mean!
How do you get your eldest to save?

My DS is 11 and still doesn't get regular pocket money. He's allowed some of the change if he goes an errand to the shops, gets spends if he goes on a school trip or some other outing, has a magazine delivered, we crisps & sweets in the cupboard available on request and he still seems to put by enough to make regular deposits into his savings account.