How do you deal with Pocket money

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When do you give it, how much, what for, how do you give the money etc? Do you make them saving any of it or place any other restrictions on it?

I want to start giving my kids pocket money, to encourage independence and looking for mumsnet wisdom. I usually start with best of intentions, but the process falls apart after a week or 2, like the reward chats did, when they were younger. Thanks.

I started my DS on £1 a week at about 6, and it's still that (he's now 11). There are a number of tasks that he is expected to do around the house - empty the bins, take the washing out of the washing machine, set the table, etc (I saw a list at a friend's house and used that as the basis), sort the recycling, and other fairly easy tasks. He doesn't have a mobile or any particularly expensive hobbies. He saves his £1 and spends it on sweets mostly. I have not made a direct link between good behaviour/doing housework/getting pocket money; but have had to remind him that we are living together in the house and all of us need to contribute to helping making that work. Personally, I would separate out tasks from pocket money. As to what the pocket money goes on, well it's his so he gets to choose what to spend it on. Can't think other than sweets that there's that much to be honest. He gets to keep any birthday money (usually £10-15) but if the money is given as a cheque or put directly into his savings account then he doesn't get his hands on it!

Some good ideas to think about. Thank you.

We have given 50p per year of age per week since age 3. No linkage with doing things to help although occasionally I have threatened to dock it if they didn't do something if they've been a nightmare that day but think only had to actually do it once.

No restrictions on what they spend it on provided it's age appropriate although we do try to dissuade them sometimes. If they wanted to spend it all on sweets we would though rethink it!

My child (nearly 6) gets £1 a week which can be spent as she wishes. We don’t always remember to give it to her and so sometimes she gets several weeks at once and I occasionally top it up if I (for example) allow both children (one much younger no pocket money) to have a small toy when visiting somewhere etc. We expect both to help with age appropriate chores which are currently not tied to pocket money. It is quite helpful when discussing why we can or can’t do things (like buy her an expensive xxx she requests, or go out for dinner every week etc) so we can say “that is the equivalent of 6 months pocket money” or whatever, which helps her to have context. We usually physically hand it over in cash and I have no doubt that some of it gets put in the play till and lost under floorboards!

My eldest is 10. Doesn't get pocket money yet but when she's 11, I plan to open a kids account with a debit card and transfer a monthly allowance.

I should add, when I say spend as they wish, obvs I mean age appropriate and I make gentle suggestions as to when things seem too expensive even if technically affordable. She funnily enough perhaps have never thought how sweets get purchased so never asked to use it for them. Mind you she is still working through the Halloween sweets presently!

I started my DS on £1 a week at about 6, and it's still that (he's now 11).

You don't think perhaps it's time for a raise?

He gets to keep any birthday money (usually £10-15) but if the money is given as a cheque or put directly into his savings account then he doesn't get his hands on it

Why not?

£1 a week and not even allowed to spend his birthday money is seriously tight.

£20 a week from age 11 when they opened a current account with debit card.

Not connected to chores.

£10 a month, transferred to their bank account. Not linked to anything, its their spending money but a little planning is required for them to spend it. If they see something they would like to buy, we first plan a trip to the bank to withdraw money (ages 7 & 9, so no cards yet) then they can buy it.
Works great, but I have 2 tight kids, who both want to save until £1000 (very far off!), so are reluctant to withdraw their own money. Before a holiday, they withdraw some spending money, and birthday money is kept in their piggy bank or purse at home so they can spend some when we’re in town/at a fair/gift shop

This week's thread to save everyone having to repeat themselves.

Ah great. Thanks everyone.

I definately think you get more benefit from giving them more. How much do you spend on them a week? You dont neccesarily have to do that and give them extra on top just give them some of the money you spend on them to organise themselves.
My 10(almost 11) year old gets £50 a week, but shes expected to buy a lot with that, thats to pay for her phone, save with and buy anything that she gets while we are not with her or that is not for the whole family so if she goes to the cinema or clothes shopping with her friends, if her headphones or something breaks she replaces them, basically anything that is not neccesary for her to survive. She wants to save at the moment but if she was spending it all we would have to rethink or set some rules, It gives her a proper chance to budget and organise what money needs to go where, which I dont think you get with just a few pounds a week to spend on sweets at that age.
8 year old gets £20 a week, expected to do the same but he doesnt go out without us that much yet so doesnt need anymore than that.
3 and 4 year olds get £5 a week for when we do the weekly food shop, they normally either get a magazine, sweets, a small toy or they pay to go on those little rides outside , anything they dont spend they get to keep and put in their piggy bank when we get home.