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 enjoys looking at his bank balance, and I take him to the bank on occasion, to pay money in (eg:birthdays) or take money out if he has saved for something special, or just to check what his balance is. We make the tricky decisions about which accounts are right for him, best interest rates etc.
My son helps out around the house as part of the family, but if he is saving for something or wants to earn a little extra, he will ask for extra chores or tasks or help with specific jobs (clearing out the loft and going to the top for example) It works for us!

By doing things with them, like tidying up their toys etc. Gradually lessening the time so eventually they do it on their own and feel a sense of achievement. My great nephews and nieces always clear up after themselves when visiting :)

Ours get pocket money each week which is not linked to chores. This is because I feel that they should help around the house because they are part of the family, not for a financial incentive.

However if they go out of their way to be especially helpful around the house, then they get a reward card which entitles them to something like a midnight feast or a book of their choice bought for them. These are random though and given after they have helped so as to not influence their decision whether to help or not!

I get my DD (4) to wipe and lay the table for meals. She is also happy to use the duster and tidy up toys. She gets stars for each job completed and if she gets 10 stars by the end of the week she gets £1 for her money box.

My kids have to tidy and clean their own rooms and help out with the chores

Both children have specific tasks to earn their £1/week- DS opening and closing gate, unloading dishwasher. DD more gate duties and cat feeding. Both are enlisted to help with hanging out wet laundry.

We also talk about spend versus save versus share (charity) - although not seeing much development yet in behaviour!

It was simple really. I costed up jobs that he was capable of doing. The more he worked at the jobs the more he earned in pocket money.

I think even as young as toddlers you should persuade them to put their own toys away. As they age, put their own clothes away, and keep bedrooms tidy. When old enough it's good to teach them to wash up. Wished of I've done this with my own 2.

by putting their dirty worn clothes in the wash basket daily

By doing small chores such as tidying up toys and generally being responsible for their own property, a valuable lesson for life, me thinks.

We have just started giving my 5 year old pocket money, he gets £1 a week for taking out the recycling (which he likes doing!) and gets a little extra if he does extra little jobs.

Although DD does have chores to contribute to family life eg setting the table, tidying her bedroom, helping with cleaning etc we don't link this to pocket money.

She does get pocket money and occasionally she asks to earn more by completing an extra task, usually something outside such as weeding a flower bed, sweeping the paths or raking up leaves.

It works for us. She helps out with chores because that's part of life and if she wants to earn more money there are opportunities to do so.

Always encouraged my children to fo chores around the house to earn extra pocket money from washing up to hovering around the house it stands them in good stead for living in the real world

To be honest, my daughter seems to love getting involved in 'adult jobs' more than playing for no reward! Sometimes, when you just want to get a job done, it's a struggle to put her off getting involved! As she is showing such an interest I do reward her with some extra pocket money or recently she has started a weekly gym/dance class.

I get them to do simple tasks in the house tidying their bedroom, washing up, loading the dishwasher, setting the table etc to earn money. They then have to decide how to spend it and its amazing to see how they spend it.

I think it's important for children to earn the value of money. I think they should work hard to get something that they want. Pocket Money is a really good way of teaching this. They can do jobs around the house and earn pocket money, that way they can save up for a toy they want, or to take money on holiday, or save in their bank.

My kids are a bit young at the moment to understand it fully, but if their bedrooms are tidy and their beds made they get pocket money.

They don't get pocket money for helping with jobs around the house, but I do reward them for good behaviour and feedback from school, but not to the extent that the expect it.

Kids all do certain things around the house that they are expected to do because they live in here too, like bring washing down to basket, make beds, keep room tidy and the likes then they can help out with extra ones to earn that little extra like helping walk the dogs, empty washing machine/tumble drier, do the dishes etc and there is a chart up so I and they can keep track.

We don't expect our kids to do 'jobs' to earn their money but we do want them to do little things like make their beds, tidy up after themselves etc. If they play up during the week then they don't get anything.

I think helping around the house, within reason, is part of being a family unit - my three are generally happy to help and completion of household tasks is not a prerequisite for them to earn pocket money. I would rather this was 'earned' through good behaviour, effort and positive achievements. My eldest has an Osper account while the younger two are paid 'cash in hand'!

They have a list of jobs and a list of prices for doing each one. At the end of the week this is tallied and they receive the money.

Every morning my two boys have to make their bed, make sure floor in their room is tidy and clear of toys, get dressed and put their jarmies in the wash and brush their teeth. If they do it all school week then they get their pocket money after school every friday and i let them off a bit at weekends but they always just end up doing it because they are so used to it!

The dc's help out in different ways and have their own jobs around the house- dd likes helping hang out the clothes after doing the laundry, DS2 empties the dishwasher, DS1 takes out the recycling. All of them tidy their own rooms and clear their own dinner plates away.

By doing household chores

She tidies her bedroom and helps round the house, the youngest also tidies her toys! If they want nice things they have to earn it!!