Pocket Money - How old and how much??

[AlwaysTheMummy]

I have just read through the Teenagers Pcoket Money thread and it got me thinking, how old was your child when you first started giving pocket money? Was it a given right or did they have to earn it? And lastly how much do you give them?

My oldest is only 5 and I buy him treats when we are out.

Most say between 5 and 8 (with exceptions). Typical amounts 50p to £1.50.

If he's not asking for pocket money you might as well wait a bit longer. The idea of it all is to help them feel responsible and start understanding the value of money.

Personally I like the idea of a base amount plus small extra amounts that can be earned for special chores (but everyday chores must be done regardless ie. unconnected to pocket money).

My children are 11 and 7 now but started getting pocket money when they were 5. We gave them £1 a week and in return they had to set the table for dinner (which they were perfectly capable of doing at the age of 5!) When my youngest turned five his elder sister gor "promoted" to drying the dishes so that he could set the table!!

None of mine get any yet - the eldest is 8 and he hasn't asked and we haven't offered! They get money at Christmas and birthdays and grandparents give them the odd £1 here and there which they squirrel away! Once the eldest gets it then all 4 will want it and I feel too poor for that at the moment!

BTW, they're expected to help out 'for free' by laying the table, tidying their bedrooms etc. I don't get paid for household chores and I'm not sure I want to start paying them for stuff they should do anyway tbh. No criticism of anyone who finds this works for them though!

dd1 is 8 and gets £2 a week

she must empty and fil the dishwasher every day

she must keep her room tidy...ish]

she must set her clothes and sort her bag ready for school each day

she helps me with her sisters also

these things are expected and have nothing to do with getting her pocket money

she can earn extra pocket money for helping daddy mow the lawn or taking th rubbish out, cleaning the car out etc

dd2 is 3 and gets 20p so she can pop it in her own musical piggy bank just like her big sis

DaisySteiner is right that the youngest will start pocket money earlier than the eldest, so hold out for a while yet.

Mine are close in age (less than 2 yrs), started pocket money I think when they were 5 and 7.

We don't exchange cash though, we just write everything into a book, along with any money they get for birthdays, etc. That way they are encouraged to save up for something decent rather than just junk.