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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Pocket money was earned with a jobs list, they did the jobs, they got their pocket money :)

My children are given £2.50 a week. They have a standard list of jobs they are expected to do. Make beds, keep their room tidy, load/unload dishwasher/washing machine/ dryer and feed the cats. If they don't do a job then they have to pay for the service. The going rate is 5p a job. If they do "overtime" as my DS refers to it they get an extra 5p a job. They are also expected to put some aside as savings. We are doing the 1p a day saving challenge. And they are loving it.

My children's chores were to keep their rooms tidy and help tidy the kitchen after dinner. they are all grown up and left home now. we are going through the process to foster, they too will have the same chores and will have money put in to an account to save for their future.

They have a base rate of £2.50 a week, but then they can earn extras by emptying the dishwasher, cleaning the car, hoovering, so hopefully they have a sense of knowing they have to work to earn what they want

We've never really done pocket money, mainly because we have two that spend everything they get their mitts on and one who wouldn't pay for a bucket of water if he was on fire!
We do expect household chores to be a joint effort between all of us and they all know how to cook basic meals, load washing machine/dishwasher etc (youngest is 13). We provide them with money as and when needed (rather than wanted) but don't feel household chores should be rewarded by money as this won't really help in the real world- I don't want them to think you should only do things to help people out if there is a financial gain to be had.

encourage them to do odd jobs around the house

I always get my children to tidy their room and are capable of hoovering, washing pot's and putting toys away. My 6yr old is keen to learn and likes to help with washing and preparing dinner

My little ones help in the house and will usually earn extra pennies for being helpful without being asked

Pocket money is earned by tidying up their bedroom.

I encourage mine to write down any jobs they do on their calendars and come to me each Saturday then we can review what they have done and see if they have done enough to earn their pocket money!

my son earns his pocket money by keeping his room tidy and doing his homework, also eating all his dinner and helping where he can

DD makes her bed, tidies her room and little bits of help around the home...

Today was an easy one, we all cleared the snow off the drive before school!

Our daughter (9) has been encouraged to make up her own 'businesses'. At the moment she has a 'spa' where we pay 20p to £1 for hand and feet massage, neck massage, a hair style or makeup application. Most chores are without payment as part of the household contribution, extra activities are financially remunerated. We also set up one of these four-way money boxes (savings, spending, charity and investment) for her to learn how to choose what to do with her funds and it is working very well.

It varies on the age, but I used to give them a minimum each week ( which I compared to basic wage ), and then they could extras through housework, good school report, and general good deeds over and above what was normal behaviour ( which I compared to overtime, bonuses etc ).

I used to just try and involve my son in helping me with whatever I was doing, whether general tidying or spring cleans, shopping or cooking.

Yup, there's an expectation they help with chores, and if not - no/reduced pocket money

Now my son n is a little older he earns money by Washington no neighbours cars. At this time it of year it's very lucrative but also very chilly.💰😜

The best thing i have seen and will most definately be adopting myself is a work chart. Basically you put a list of all the chores that are needed on the fridge or somewhere else they can be seen along with the wage on offer next to it. It is then up to the child to choose which ones, if any, they wish to complete. If they don't complete any then they have no pocket money, but if they want something such as a toy or money to take to the cinema with them then it is up to them to work for the amount of money they require. This is a great way to teach children to work for what you want in life :)

My children have spends, in return for doing jobs. When my older two were smaller they had a rota chart of jobs which worked well. they got a sticker on each completed in return for spending money. My youngest is 3 . She gets a magazine in stead of money at the moment and to 'earn' it she does athings like tidy her toys away.. picks up the dog bowls off floor when the dogs have been fed. she puts her dirty clothes in the basket and takes her plate in . i think its good for children to earn their spending money. just like when they are older and work for a living , and starting them off young with simple jobs helps them

my son and daughter earn their pocket money by having jobs each that they have to do daily/weekly. This helps them to learn that in life we have to work for our money, and also the responsibilities we have. When i decided to introduce pocket money, i encouraged my children to decide on their own jobs around the house and rules that they must follow. This therefore gives them responsibility for their own decisions as well :-) they have a jar each where they save their money for something of their own choice.

I make them do chores, they learn that hard work will pay off

Help with little jobs around the house - they need to earn it!

Rewards linked to tasks and also good behaviour

Doing chores around the house - simple ones, like tidying up after themselves and helping out with the cooking a bit!