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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My son gets pocket money if he does his chores, with the chance to earn extra for outstanding behaviour, eg do dinner without prompting, extra chores. He is also expected to replace lost items from his own money's

To earn pocket money she tidies her room each evening, brushes her teeth when asked and helps with little chores - she likes using a feather duster!

My LO earns her pocket money by taking out the bins and hoovering

Certain tasks they need to do each day, for which they 'earn 10p' a time, ticks go on fridge each day when they've done them, and then at end of week, work out how much pocket money they get. Trying to compete with each other to get more money than sibling is a definite encouragement

make jobs in to games that are competitive, so they try and get a quicker time each time they do a job, its amazing how well it works.

We are lucky that our 2 little boys enjoy helping with the housework. Sure that will wear off as they get older but for now they are happy to help wash up or put stuff away.

We use let them join in with household tasks and by doing so they earned small daily rewards. We never made them do anything in order to earn their pocket money. It was their choice to join in with the housework. If they didn't join in then they didn't get any pocket money. This way they learnt that nothing in life is free.

by teaching them the value of money and how it's good to work for your money

At the age when they qualify for pocket money, doing well at school is the main to reward them for

Olivia is not quite 4 so doesn't get spending money but she already loves to help around the house & garden. She loves to help her GG wash up & loves pottering around the garden, she even has her own little bag of gardening tools

DS is almost 3 and have recently been wondering when to introduce this. DM recently gave him 20p for helping to do the washing up and he seemed to really respond to it. It's interesting to hear what other people say.

DC are only 4 & 6 so they get £1 and £1.50 a week and to do this, they have to set the table for dinner, take their own dishes to the sink afterwards and to clear up their toys before bedtime. These are not onerous tasks but it teaches them about being responsible for their environment and helping out for wish they get a small reward

chores, chores and more chores! :) And oh yes... good behaviour!

My 10 year old earns hers pocket money by doing a agreed chores like making her bed vacumning and keepinher room tidy and helping clear away after meals. Money is deducted if she chooses not to..I think it's a really valuable experience to earn and save for things she really wants

kerching! well i got our son into the value of money by getting him to work out which chocolate was the best value by working out how much each 100g cost - he was amazed at the difference in prices and it put the idea in his head as he said "wow even the ones that look bigger are rubbish value mum" - he earns pocket money by doing jobs round the home which used to be vacuuming etc, now it includes fixing computers, guttering, lawn mowing, all the things he will need to do as an adult when he lives in his own place (although i said he is not allowed to leave until he is 45)! haha. He is really good with his money now and tends to save 80% of it for bigger things he wants to buy in the future, you could say he is more sensible than me! eeek!

eeek - before someone comments about our son fixing guttering - can i just add we live in a bungalow - didnt want people thinking our son is like 45ft off the floor on a ladder! he just uses a little 3 steps stepladder (cos he already far taller than me)!

i do have a chore list and each chore attracts a certain amount of money depending on how out of their comfort zone the chore is but i think this encourages confidence and independence

Mine do not have to do chores as such (although I do expect them to help when I ask!) I withhold pocket money if homework is not done though

My children earn pocket money by doing things I don't asked them to do, cleaning rooms, being polite, good behaviour etc

Pocket money is earned through chores but I do think it is important to differentiate from additional chores and manner/behaviour expectations. Good Manners and Good behaviour = nice treats but are not pocket money related.

I never gave my son any pocket money as such, although he did have a piggy bank and a children's bank account. He had most things he wanted but if we couldn't afford what he wanted and he had some money saved up then we would help him with the purchase. Helping around the house was never one of his strong points and attaching it to the receiving of pocket money would not have worked, it would have caused upsets galore.

tidying their rooms and washing some dishes

my children have always done chores for pocket money i think it teaches them a very important lesson in how the world works. Weve always encouraged them to think about how much things are and what they need to do to earn it. Washing up, helping put the shopping away, hoovering all have different earning potential!

A tidy room :)

My daughter receives £5.00 a week, she is 11. For this she has to keep her bedroom tidy and hoover. She also helps take out the recycling rubbish.