Pocket money

[babybouncer]

DS is 9 and we also have a 6 yr old. I’m about to start pocket money, mainly for DS, but probably also for DD. How much do you give yours?

DD is 10 and gets £10 a month paid onto an Osper card. She does also get around £3 per week from DGP though. It means that I don’t have to shell out for stuff, if she wants something she can buy it or save up.

We give our 10yr DD £5 a week we try and encourage her to spend some/save some - depends on what there hobbies are, what would they spend it on? How much would you be happy to give them

Ah... I was thinking about £1!
He’s not used to having money - never gets it for Christmas or birthdays - and mostly he doesn’t need it. He doesn’t go anywhere without us, we buy what he needs, and I don’t want him buying junk to fill up the house. And now I sound like a crazy over-controlling parent...
What do your kids buy with their pocket money?

I'd give the 6yo £1 and the 9yo £2.

Enough for a few sweets, or something from a charity shop every couple of weeks, or from a toy shop monthly.

DD2 used to love going in with a few coins, and going round the charity shops to find a 'cuddly' or a 'breakable' (ornament). It helped her decision making and valuing things.

DD gets pocket money since she is 5. It was purely a tool for her to learn about money and budgeting.

We started with £1/week to save money for the holidays. We then kept it on and increased it by £0.50/week each birthday.

She is off to secondary in September and we will review the situation as she is then more out on her own.

Spending wise she is a good saver when she has a goal but loves cuddly toys, make up or custom jewellery. She buys books from the charity shop, the odd T-shirt she desperately needs but I can't see it and sometimes sweets when I refuse to buy it.

We got into the habit of her taking money with her when we go out.

We pay for all family sweets, clothes and shoes, school items, normal stuff like facial wash, body wash and shampoo (she can't use the one I need) and the odd magazine.

Our dd doesn’t go out without us much, so more to teach her about money and the value of it, mostly her money gets put away and saved for something when she sees it, she also pays for her monthly magazine subscription £5

I think starting of at £1 and see how he gets on with it and judge from there, and for your dd maybe give her half the amount your give DS and increase it as she gets older

DD has been to Costa a couple of times with friends but mainly spends hers on Lush products. She does save too though.

Interesting, thanks!

We do £2 and £1 for similar ages (year 5 and year 3). They don't spend much - occasionally a book or a toy, and I make them take money to things like school fêtes so they don't spend all mine!

Mine are 11 and get £3 a week. They spend most of it on sweets. Not great, but we felt they needed to learn.