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

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We have a list up on the back of the kitchen door. It has various jobs and the money that can be and earned by doing those jobs. This is used for treats and bits of tat that I don't just buy willy bully. My girls are seven and five, they need to learn That you need to work to earn money for nice things.

They also are expected to keep a tally of how much they have earned sneaking a little bit of maths in there!

My sons (9 & 10) get pocket money and help with washing/drying up and keeping their rooms clean. If they offer to do other jobs I usually give them some extra money to reward their initiative!

Mine must do chores to earn there pocket money and if bad behaviour or bad chores etc it gets reduced or stopped.they must save half of all pocket money also.
I don't give any set amounts for the chores individually but if not done well or not at all it reflects fully by been stopped or reduced.
I am self employed and i believe it shows the girls fully that if they don't work etc then they don't earn the nice things in life.

we have a washing up rota and we also give extra money for car washing, making lunch, keeping bedroom tidy.

I encourage my children to save their pocket money and put it towards something they really want. I discourage them spending it on sweets or comics which will be eaten or read within a week.

They earn their pocket money by helping around the house, playing well together and doing well at school or in the clubs they are enrolled in.

My Lad (8) doesn't get pocket money as he just seemed to take it for granted. Instead we get him to do chores to earn rewards ranging from treats, trips to cash. With cash we encourage him to have a saving target, at the moment it's for a PS4 so gives him focus.

My DCs are still a bit little for "chores" but earn pocket money by keeping their toys tidy.

I didn't want to have a system where they were paid for specific chores as I think helping out in a family is something we all should do. I give a very modest amount of pocket money to encourage saving up for something they want and to help them learn about money. Bad behaviour could result in pocket money fines though.

My children have learnt they won't get money for nothing, they have done chores from an early age, now they walk the dog, wash dishes and clean their rooms for me :)

We vary the little jobs he has to do and reward him straight away after doing them ...which I feel is very important. We never allow advances in his pocket money either so if he wants something he has to save.

my two get pocket money and for this they are expected to help around the house and by keeping their rooms tidy.

I encourage them to help reminding them of the things they are saving for and tell them when they buy it they will feel so much better cos they have earned it. They do small chores around the house, like hoovering, setting the table, washing up etc

DD is 5 and we did try pocket money in an attempt to get her to get dressed, make her bed and put her clothes in the laundry. 30p a day. However the motivation for the money soon passed. The good news is that she does those things in the morning still! So possibly too young for the concept of pocket money.

I absolutely believe in earning pocket money. She sets the table, tidies up and sometimes feeds the dog. In time we will agree a weekly amount with her.

I our house pocket money is given every week. It is not dependent on chores as we feel that they learn that something's just need doing, thing like cleaning bedrooms, setting/clearing the table. But extra chores are payable, washing the car, seasonal garden jobs. Hopefully they will learn that some things need doing but also we hope to teach them the value of money and earning it for yourself

I talk about value of money and saving and how we can save money. He gets pocket money for helping with house work and on my Avon round as he is only 6, he can then save it in his moneybox for things he wants to buy.

When my 3 were little they were given pocket money when they did little things like help to tidy around the home, sweeping, washing up, keeping bedrooms tidy etc.

My DC's are always happy to help around the home (it's a good grounding for being a well rounded adult). They always put toys in their toy boxes, and will take turns in stacking the dishwasher after dinner. In the summer they help me with the weeding to keep the garden tidy. The feeling of money well earned and not just given is a lesson in life. They will save most of their money in their money boxes, and spend some on little treats.

We give our children pocket money and theres quite a range differnece in ages so we start off with small amounts for the younger ones, increasing with age. We found small chores like just keeping their rooms tidy and bringing their washing from their rooms to the kitchen was a good start, We also started with the young ones encouraging saving and if they did this by the end of the month without spending we gave them an extra pound or two, helping them to ndrestand that saving money can earn a little interest for them and it really helps

My daughter has to work for her money! She has to lay and clear the table each day for dinner and she has to keep her room tidy - meaning nothing on the floor. Unfortunately, she hasn't been able to manage the latter for most of last year - she she didn't get her pocket money for that. Sadly, it's the only way to learn.

They have to always tidy their rooms and put all of their toys away and if they do they will get some pocket money.

Organising everything for school the night before and doing home work without moaning - I have explained that everything we have is because I work from the water in the tap to the shoes on their feet and their job is school.

They don't get pocket money every week but they do help with the chores in the house such as making own beds in the morning, clearing away breakfast dishes etc, which in turn gets family days out at the weekend with treats.

I racked my brains about how to encourage my daughter to earn pocket money and hit on a great idea. She looks after me! I do the housework but I give her money to pamper me. She brushes my hair, massages my head and shoulders and feet and makes me cups of tea!

Pocket money is earned with small jobs, putting toys away, tidying bedroom,
helping with the shopping