What age for pocket money?

[morrrr]

Can I ask what age you started giving your children pocket money and how much?

What sort of chores do you expect of them to earn their pocket money?

My 6 year old has mentioned that her friends get pocket money for helping clean the house, and she's very interested!!

7
By then, they had the "maths" understanding of the fact different coins were worth different amounts, and that if you have X and spend Y it will leave you with Z
Or, if you save X each week, you will have Y by the end of the month, and then be able to afford whatever it is you are after.

Never linked to chores. Everyone who lives in the house has to chip in (according to ability) by dint of the fact they are part of the family.

Mine are in their 20s now so the amounts will seem outdated.

We started at age 5 and, for now at least, we're using the formula of half their age - so £2.50 to start with, increasing to £3 on 6th birthday, etc.

There are some basic age-appropriate chores that we expect them to do without any links to pocket money, e.g. tidying up toys and clothes into laundry basket. Then there's other things they can volunteer do and will get extra pocket money if they do - 50p for sweeping the floor, £1 for helping us clear leaves from the driveway, etc.

My eldest was 6, my middle one 5 and my youngest 4 when they started getting it. Not related to chores. We do chores because we’re a family and help each other. They got £1 to start, then £1.50 and by the ages of 10 and 8 get £2 per week. It’s not much but they seem happy with that amount and occasional top ups from birthdays or grandparents visiting etc.

I've just looked at the Bank Of England inflation calculator to work out what my pocket money would be in today's money! Equivalent of £1.85 a week at aged 9 😄

Anyhow, we're not there yet but intend to start pocket money when they start school. I already expect my 3yo to do age-appropriate chores and pocket money won't be affected by that later down the line

I give my 3 & 5 year old pocket money.
basis is 50p a day and for this it’s normal house rules.
so using kind hands. Words etc
taking pots into kitchen, tidying up toys, cleaning the table and making their beds

they can earn extra by helping me out.
each ‘chore’ is 50p
this is stuff like
matching socks up, putting clothes in the washing machine, helping me put them on radiators, putting the shopping away, helping their sister out.

generally they get between £4-£5 a week.

on the other side they are responsible for paying for breakages.
they both ruined a expensive lipstick so had to pay to replace it.
fair to say they don’t touch my stuff anymore 🤣

they generally spend pocket money at the car boot or on sweets.

I’ve found it has helped them understand money better and the cost of things

I give my son £10 a week if he helps around the house. He wipes down cupboard doors, helps with the washing and I came in to the kitchen one day to see he’d tried to wash up as says he does that at his dads too. I leave washing on his bed and he puts it away and he does tidy his room off his own back too.

it works out well as he uses it for anything he wants from the shop like football cards or the ice cream van and he recently saved up for over a month to buy the new fifa game for his Xbox. After a month of saving, I gave him the extra as was impressed he’d stuck at saving and it’s been beneficial as he works out his change and if he has enough to get anything from the ice cream van lol