pocket money

[jco]

My kids are 5 and 7 and just lately my dd (7) has been mentioning that some of her friends at school get pocket money. I thought she was a little young but now i'm not sure. also if i give her some then it seems mean to not give some to ds(5). Don't know what to do!! any thoughts??

Mine started getting pocket money at that sort of age. DS1 (8 now) gets 80p and ds2 (6) gets 60p. Cash doesn't actually change hands, but instead we write it in a book, that way they save up for things they really want rather than just buying fripperies.

Interestingly they are allowed to spend up to 20p on sweets a week (I don't buy any at all) ... but they choose not to! They'd rather save up!

We haven't started on pocket money yet and our eldest's 11. I can't see anything wrong in principle with only giving pocket money to the older child, but giving some to the younger child when you consider he's old enough. What would they spend it on? Our children have enough trouble spending money they're given for Christmas and birthdays.

money for nothing?

not likely

i would ask " if their mums told them to take a long walk of a short pier - would you want to?"
" err noooo"

" cool, then heres the thing, no pocket money in this house, thats becasue i say so and i am the mum okay?"

Hi Jco. Have no real opinion about whether you should go for it or not with your dd. My ds1 is 7 too and some of his friends have pocket money; some don't (he doesn't).
BUT if you do do it, don't give it to your ds, too. I think, like later bedtimes, there are some privileges you earn by getting to a certain age - and not before. Can you tell I was the eldest child driven to crazy jealousy by younger sister who got everything at the same time I got it - only she was four years younger?!

I started my children having pocket money when they were six. They each had to wait untill they were six, so it was seen as a privilage they got at that age. It was just enough to buy some sweets with and was the beginning of teaching them about money. They are all tenagers now.

I give my 6 year old pocket money - £1 a week. She buys a comic or a small toy.

We started it as a disciplinary measure - 3 strikes (i.e. three times being naughty in a week) and that meant no pocket money.

At first, she would spend it the minute she got it, on anything she saw! After a few weeks tho, she started to save up for small toys and it has really taught her the value of things, and she is much better behaved!

I would give DD it, but tell DS he will have to wait until he is 7.

ds1 is 6yo and doesn't even know about the idea of pocket money! But I know some of his friends (many only 5yo) get it. I had the idea of 10p/year of age, so it would be 60p/week if I started tomorrow.

Am thinking that age 8 is about the right age to start, though.

ps: there are a lot of threads on mn about pocket money & I find it fascintating subject. Not least because I just don't know how I will want to do it, and maybe because I'm a complete anorexic about money and will hate to see it "wasted". Some parents top it up for good behavior/extra chores, or deduct from it for bad behavior. Some parents only give it out for chores done, other parents give it out regardless of behavior.

When they're teenagers, some people think it's more grown up if it's called allowance (wtf with that?). Esp. when the get older and it's sometimes becomes a total spending budget/allowance for clothes, school lunches, mobile phone and everything else. In the surveys of "how much?", Custardo always comes out as the meanest mom, btw .