Pocket money is a feature of many families, and Nationwide would love to find out if you encourage your DCs to earn theirs, and if so, how? NOW CLOSED

[EmmaMumsnet]

They would love to hear which chores your DCs can do in return for cash, and tips on how a pocket money reward system works. They’d also love to hear any other ways you encourage your family to appreciate the value of money.

So, do you believe encouraging your kids to earn their cash will help them in future? Do your DCs get pocket money for keeping their rooms clean and tidy, or do they have to go above and beyond? If so, which jobs come with a cash reward? How do you decide the ‘going rate’?

Whatever you do, Nationwide would love to know how you help your DCs to get a better understanding of earning money from a young age.

Take a look at the first episode of Nationwide’s ‘Tenner Challenge’ YouTube series for inspiration on how to encourage your DCs to start being resourceful with their money. In each instalment, Nationwide enlist a YouTuber to earn as much money as they can in a couple of hours from a single £10 note.

Everyone who posts on this thread will be entered into a prize draw, and one MNer will win a £300 Love2Shop voucher.

Thanks,

MNHQ

Standard Insight T&Cs Apply

There's quite a bit of research saying it's bed not to earn pocket money - it's unconditional, as it's early learning about money - but then the opportunity to earn extra for extra bigger jobs around the house.

It's what I did growing up and what I will do.

*best

DS is 5 so we have started a reward board

My daughter is 6 and she earns pocket money by cleaning her Barbie house and hoovering out all of the floors and dusting the Barbie furniture.
She gets £2.50 for doing this.
Then she wants to help me Hoover and mop the floors in our house just like she learned by cleaning her Barbie House.

helping around the house, laundry, car washing etc

In our house we have a little book and when the children do chores or acheive a certificate at school they get a certain amount written down and they can then cash it in at a later point. this has worked well for the children and often they like to save up for something they really really want

They have chores to do to earn pocket money

I think i am a soft touch - mine get it as long as they are nice to each othet- it makes such a big difference to everyone's happiness that is enough for me. Both dc have been promised bank accounts with cash cards at 11 and are excited about it.

Congratulations @towser44 - you have won a £300 Love2Shop voucher!

I'm currently pregnant with my first child but I have been given lots of tips from my other mum friends.

They suggested I make a list of chores (suitable for their age) with the amount of pocket money they get for each chore e.g. making their bed, putting away toys, putting dishes in the dishwasher etc. I will definitely be taking these on board!

They get pocket money for helping out with anything other than the usual 'chores' - they need to learn to do their homework and tidy their room without bribery. It's also nice if they do helpful things that have been their own idea

Pocket money is something I never had as a child, but seems to be standard now. I encourage saving some and spending some, this must be earned by keeping there bedrooms tidy and helping set the table daily.

It's something that has to be earned, I think it's a good way of teaching the value of money

we encourage them by getting to tidy rooms and help with table laying and tidying away depending on their age

My son is a bit young at the moment to understand the concept of money - he is 3 years - but I encourage him to help around the house by saying things like "You can watch TV/play with a different toy/ have a biscuit etc when you have picked up these toys/took these dirty dishes to the kitchen/picked up your clothes etc". He responds well to the idea of a positive outcome if he does some work so I think he will like pocket money when he is a bit older!

My DD is 14 and at an age where fashion is quite high, we as parents both work and she sees this as a way of paying for things we need and want. From an early age we taught her the value of money and now she does understand the concept of how much things are. We allow £10 pocket money per week for this she has to help with everyday chores (we have a rota) and the chores can be anything from washing up , hovering , making beds to looking after the pets making sure they are fed and water, I believe this also teaches respect of others.

Give them a chore list with an amount earned for each job to show them that harder work brings greater rewards

I've been trying to get my eldest daughter (9) to take more ownership for her day-to-day routine, as she can be very away with the fairies and will often not brush her teeth, do homework etc without being reminded. I wrote a checklist of things that she needs to do every evening before bed, if she does all of those things during the week then she gets some pocket money at the weekend :)

They earn money by doing chores like emptying the dishwasher and keeping their rooms tidy

My 9 year old earns her pocket money through doing chores in the house, for example emptying the dishwasher, cleaning out the rabbits, hoovering and dusting.

Mine are too young for pocket money at the mo, but as soon as they're old enough, they'll be deemed old enough to earn it by helping out with some little age apt chores!

My daughters earns a pound a day if her bedroom is kept in order and tidy!

It definitely helped, it very rarely looks a pigsty these days! xx

Chores and doing well at school earn a bonus to the regular pocket money.

DS is 5 and doesn't get pocket money. He is at the age where he enjoys helping around the house - he is gaining good experience for when he has to help in order to get those pennies!

eat their vegetables