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Parenting

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Original poster

A quick poll - do you give your 5 yr old pocket money?

33 replies

florenceuk · 01/02/2007 10:24

And if so how much?

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Marina · 01/02/2007 10:25

Yes. Can't remember but it was calibrated to the worth of one comic plus 50p to save, when ds was 5. So, about £1.30?

foxtrot · 01/02/2007 10:26

Nothing, don't think he understands the concept of money well enough yet.

totaleclipse · 01/02/2007 10:27

No.

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zubb · 01/02/2007 10:28

No - my 5 year old hasn't got a clue about money really, and I'll be putting of pocket money for as long as possible.

mankyscotslass · 01/02/2007 10:29

Ds is 5 in May...we are considering starting to give him £1 pocket money, and make him put half in his piggy bank. also considering starting to reward for small chores to add to it...like helping clear table or tidy up bedroom...not sure yet if we will go down this route, will be interested to see responses.

mistressmiggins · 01/02/2007 10:31

no but if he has been extra helpful (he cleaned my entire car last weekend) then I give him some omney for his piggy bank
hes 5 in April
wont give him regular money for a few more years - agree doesnt really get the concept of money

TinyGang · 01/02/2007 10:34

No not really.

Grandparents give pocket money to them all (8 and 5 yr olds) but it just goes in the money boxes. It all mounts up - they seem to have a lot saved up which I put into their accounts every so often.

Sometimes if there's something they want I suggest using the pocket money. They all chipped in a tenner last Summer and bought a new paddling pool.

Older dd is slightly more interested - sometimes we go on a girly shopping trip to Claire's Accessories and she buys some things with her money, but in all honesty none of them are that bothered with money just yet.

I wish I could be that laid back about it!

morocco · 01/02/2007 10:40

ds1 is 4 and completely obsessed with money. we don't give him pocket money but he seems to collect it from around the house which drives me mad. trouble is, comics are so expensive and he only wants the free toys anyhow, I hate him buying sweets with it cos we only do that on Fridays anyway and I want more control over how much he can buy, I don't like the idea of paying for working round the house much either. Since I don't seem to get paid for it! so dilemma. atm he gets a lot of spare cash from going round all the lockers at the gym and collecting all the money that's fallen out of people's pockets - that's about £3 a week 'pocket money' - his first job!

throckenholt · 01/02/2007 10:46

we just started last week (he is 5.5) - not sure he has any real concept of it yet - but he is really keen to buy a toy forage harvester so he has a target.

We tied it to good behaviour - starting at £1 per week with reductions or additions of 5p as appropriate.

oxocube · 01/02/2007 12:16

hana · 01/02/2007 12:17

nope
doesn't understand what money really is yet apart from the fact it comes out of a wall and you can buy sweeties with it!

HuwEdwards · 01/02/2007 12:22

Cappuccino · 01/02/2007 12:23

I was thinking of doing it the same way my mum did when I was little

I used to get two comics and have to pay something like 10p subs for Brownies

She wrote it all down when I was old enough to add it up myself and gave me the money instead

I don't think I got any actual extra cash for a while after but felt very grown up managing my own little 'budget'

foxinsocks · 01/02/2007 12:25

Yes

foxinsocks · 01/02/2007 12:27

oops I missed the how much - he gets 50p and some football cards. He understands money quite well but that's always been his 'thing'.

sunnysideup · 01/02/2007 12:34

DS is rising 5 and he gets £3 on a saturday to buy a small toy with.

He's getting a good understanding of what things cost/how long it takes to get them based on saving what you have so it's good for him I think.

Though I do realise £3 is on the generous side but then I'm that kinda girl.

ItsMeMellowma · 01/02/2007 12:35

No. He is 6 years old almost 7 and when he gets money from tooth fairy he generally loses it...We also have a problem with him losing his lunch money so. NO!

Anchovy · 01/02/2007 12:57

DS is 5.3 and gets 50p a week. Not specifically linked to jobs but linked to the fact that he is older than DD (who does not get pocket money) and is expected to do more to help around the house than her. Its one of his "now you are a big boy" things.

If he wanted a magazine, I would buy that separately.

He and DD also have pasta jars - so, for example, they had watched and enjoyed Ice Age and I said that I would buy the Ice Age 2 dvd when they got 10 pasta pieces each.

Think pocket money is a good idea. DS is very keen on playmobil and loves to save his pocket money for them. We have a look at the playmobil section of the toy shop every week and have a discussion every week about how much he has and how long he has to save up for.

He has a money box, which he is very proud of.

spudmasher · 01/02/2007 12:59

no. She does little jobs and earns rewards that way. Maybe we should. It might give her and understanding of the value of money.

sunnysideup · 01/02/2007 13:05

spud I think pocket money is a good idea, just giving them a little bit of control over their own lives which is not a bad thing and there's nothing like the reality of looking at the coins in your hand and realising that there is no way they will buy what you want, to give you a true appreciation of money.

I also don't tie ds pocket money to his behaviour - any consequences are immediate and related to whatever it is he's done, not saved till saturday - but then he is not 5 yet.

slug · 01/02/2007 13:08

Yes, £1 for her piggy bank and £1 for her purse. She's obsessed with children's magazines at the moment, and, as I spend most Saturdays in the library completing my course, she is quite happy to go to the pub (lovely family place) with her dad and a magazine. (spot the neglectful mother guilt trip there)

Having saind that, we only do it when I remember and when I have 2 spare coins. She has become very interested in counting how much she has, especially as I have told her that when we go on holiday, I'll double anything she's saved.

spudmasher · 01/02/2007 13:09

You are right Sunny. She would LOVE it. What a thrill. I feel like a right mean old cow now because I also have a dd who is 8. She has never had pocket money really either!!!

foxinsocks · 01/02/2007 13:11

aww yes, that's what we did for the holiday slug - they were so chuffed and spent a long time counting out their coins!

dd, who's 6, gets 60p (we do 10p a year till they're old enough to need more) + a magazine.

Tommy · 01/02/2007 13:11

DS1 gets 10p for each pasta he gets in his jar per week (he starts off with 7) and it normally amounts to about £1 a week. He has only just started understanding about money though.

Kaz33 · 01/02/2007 13:11

DS1 - 5.5yrs - not yet.

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