When to start pocket money...?

[flutterworc]

DS turned 4 in October. We don't buy toys other than birthdays and Christmases and he's desperate for a Lego set advertised at the back of one of his Christmas presents, so I'm wondering about starting pocket money with him and teaching him about saving up.

DH and I had always expected to link pocket money to household chores, so I suppose my question splits into four parts:

1. is 4 old enough to understand pocket money?

2. if so, what sort of chores would you expect them to do to earn their money?

3. how much would be a reasonable amount?

4. how would you help 4yo 'track' his chores and savings?

Thank you!

I plan to start pocket money at 4, which will coincide with starting school.

My thought is to have amount that dd will get anyway, say 50p or £1. Then she can double it by doing "chores" such as tidying her room etc - quite low key, easy and achievable jobs. Bit more as she gets older.

We've never linked pocket money to chores (too complicated for us).
Chores have to be done as part of being in a family unit.

I think 4 is a bit young. I would say when your DC has an ability to count and understand money a bit.

50p or £1. You can't get much with 50p, just a few sweets really You would need about £2 to get anything even from a charity shop let alone a toy shop.

(In your situation I'd be tempted to wait until next September.)