How much pocket money for a 6 year old?

[RubberDuck]

Ds1 will be 6 in May and we're planning on starting regular pocket money from then on. The only problem is I seem completely out of touch as to what "reasonable" pocket money is (and without breaking our bank too!)

I was planning on working on a 10p per year of age (so 60p a week pocket money), but then thinking about it that means it'll take ages for him to save up for a small toy or a wanted DVD, so I'm wondering if I'm being a bit tight.

Then again, it's more about practising with money... it's not like he really needs anything, just an easier way for us to deal with his many whims and wants ... "well save up for it then"

I'm interested to know what other mumsnetters give their 6 year olds and what they think is reasonable.

Ah but that is because you haven't given him spending money.

I have a similar story. Took DS to see Huddersfield Town because cheap tickets from school and he is football obsessed.

My MIL gave him a pound to buy something (she knows nothing about football, and the fact that a hotdog needs a bank loan). He lost it in the car anyway.

We went in the club shop, he wanted to buy a scarf so he could wave it if they scored. I agreed to buy him one, but he would have to pay me back when we got home.

We got home and I was busily taking £6.99 out of his money box and he is whining "don't take all my pound coins". Err, yes, DS I am not having a purse full of coppers.

I agree with a little bit of pocket money being separate from chores. I don't want my dd getting paid to help out around the house, she should do that anyway. I think a little bit of pocket money (so long as she behaves) is a nice thing to get and certainly there is no harm in it.

I got a job at 16 and then no more pocket money.

Of course, if we were going to be realistic and compare with wages, I should give him his money and then immediately take 40% back as tax

LittleSarah: once he gets a job he can start paying me rent, fair's fair

I am also of the opinion that my two help around the house because we all live there together and so we should all help each other.
Having said that for little jobs that they don't normally do like helping me tidy up when I'm doing the gardening etc, then I will give them extra money (20p or so).
They do get 20p x 2 for each year ie Dd £1.40 Ds 60p a week,then my parents and great grandparents give them a couple of pounds every few weeks.
With the pocket money I give them it is given to them in 20 pence pieces and then goes in they're piggy banks till they want something.They love the fact that when its counted out that its a surprise to how much they've got.

theflumpsmum: paid in 20p pieces ... eep! Do you go to the bank and ask for a roll on a regular basis?! Can't imagine having that much change around every week!!