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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I have always encouraged 2 or 3 small chores a week in return for pocket money, Tidying Bedroom once a week, bringing laundry downstairs and perhaps washing up once a week.
I think this instils a sense that there is nothing for free and that good things are worth making an effort. :)

DD is just turned 17 and at 6th form. She opened an account last summer when she had a part time job BUT she got to keep the money - although we were well out of pocket for lifts etc. Quite often she was sent home after an hour if it was quiet (seaside job) and it was quite a drive.
She's now back at college and we give her £15 pw (plus iphone rental, plus gym membership and all the "little things" she buys when I give her my debit card to pick up weetabix on her way home!)
She claims we are mean and other teenage friends get a lot more but we also pay for bday gifts and her meal out when friends have birthdays, clothes - not cheap, etc etc. I think she does well.
I started work at £15 and earned very little until I qualified - and I had to pay all my own bus fares etc and give my mum a little "board".

I was a student when my children were quite young o there was no extra money for doing chores. They helped because they had to and we were all part of the same family. I know they found it hard but the reward is I can now help them out, spend a bit more on them and they now realise how hard it was to feed and clothe them. They always got money for after school activities but other treats were really difficult to find money for. I think they appreciate it more now and they understand better too.

sorry - forgot to add .... she is supposed to empty dishwasher, put her laundry in basket and help with housework at weekends - but that doesn't happen!

Earning pocket money s something I really struggle with. I do try to get my children to do chores and it does work at times but never lasts so I always stop. I need a better structure to what they can earn money for. It may get easier as they get older and want to earn money to go out with their friends but at he moment I feel that they haven't really got any incentive.

My son does chores and each chore has a value, he does one a day and that much money goes into his piggy bank and we write down his total..he is always aiming for fifteen pounds as that's how much a sky landers figure is..he is eight.

we encourage them to do little jobs and help out when not always asked to do so

they should tidy there rooms anyway. be an adult if they say no you tell them too!and they should just do it because of this.
ironing gets pocket money. play it by ear now as we used to say a 1p per knickers and 5p for bigger items and they just then started ironing loads of small items quickly and stupidly.so if they do a pile we will give them something.
I think for younger kids then little bits of money more as a reward and less for "cash" should be given. so the emphasis shouldn't be all on earning money and becoming greedy. this is for the very young. ours used to feel grateful if we handed over a handful of change.its more reward for being nice,kind.
for older ones doing the ironing,car etc on some occasions if they do a bulk chore fest.but mostly if they use the car they clean it.
if they want clothes they do its themselves for no money.i don't ask them for cash for doing it.
but for say having an hour of helping out with the chores being rewarded with some money is good.
and having pocket money every month is good I think too. we used to have a book.but it went wrong so it more again play it by ear.
if they do something extra.or want to go out or a new top etc just go with it.

DD gets a small amount every week regardless as we feel it helps her to budget and learn to save small amounts and then she can have extra by doing additional chores e.g. £1 extra a week if she keeps her room tidy or 50p extra if she puts her clothes in the washing basket instead of the floor of her bedroom.

You iron knickers?

Ours have to go around the house collecting crockery/washing. They then have to transfer clothes from washing machine to tumble dryer and put their own clothes away.

My 9 year old is expected to keep his room tidy, prepares his own lunch box daily, puts all his dirty washing in laundry basket, puts all his clean washing away, Polishes and does his homework without being asked.

I don't give him any pocket money as such but he does have an osper card that £10 a month goes onto regardless of his household duties.

Both of mine don't have chores as such but are expected to help out with whatever needs doing whenever I ask - ds2 might have to put his jigsaws away whilst DS1 takes the dinner plates through to the kitchen for example - for this help, they both get a 'Friday treat' from the shop or town

my eldest is 14 her chores are to keep her room tidy and put her clothes in the machine otherwise they wont get washed! she doesnt stick to either so doesnt often get pocket money!

We give our children three tasks that need to be done each day and good behaviour to earn their pocket money. X

We have a chart up in the kitchen, with different pay brackets for different chores. The DC share different tasks out, mark it on the chart, and I check it and add up the total each week. They can then spend the money on whatever they want. It's a great way to teach them the value of money, hard work and I'm proud to see how sensible they are. More often than not, they will save together and often put money together to buy a shared item that they both want, rather than spending it immediately on sweets.

My DCs are grown up now but I apply the same strategies with my grandchildren when they stay. I have a list of jobs (indoors and outdoors) and to each I assign an amount I think it's worth to do that job. Each week, I used to put the list of jobs up on the kitchen wall and my three daughters would work together as a team or individually and decide which jobs they wanted to do. My eldest would allocate the youngest jobs according to whether the little one could do it so she too could earn some money, whilst the eldest chose the hardest jobs which earned more. As they got older, I added more demanding jobs worth more but it had the proviso that with each difficult job eg cleaning the bathroom fully to earn £5 had to include one washing up night or one room fully hoovered. The principle being that I didn't want them NOT doing the smaller chores just to earn from the higher paid jobs. It worked well right up until they left college. When they returned in summer from uni, I'd do the same again. Now, all grown up, they refuse to take my money and do the jobs willingly to save me the work. So I think I can say it worked. Oh, and IF they ever were in a mood and didn't want to do any jobs, I didn't say anything, they didn't get any money. My grandchildren have the same list and now choose what jobs they want to do for Nana! And my daughters apply the same methods for their children.

Make bed daily, keep room reasonable and feed cat at weekends ( when up earlier than us )

He has to earn money and realise value of it.

Pocket money is earned emptying all the bins in the house.

My kids have to put their pj's away and put all dirty clothes in the basket. They also look out the cutlery for dinner.

I send them up the chimney!

They don't do very much, tbh, my main priority for them is that they are organised and conscientious about school work and homework deadlines, and that they spend time reading as well as screentime..

They are supposed to keep their rooms tidy including vacuuming, strip and making their beds, put all washing in the linen basket

After meals they take things through to the kitchen and put the plates in the dishwasher

definitely earn their pocket money and half generally goes to savings. Although granny gives them pocket money also..

I think it is important to show them that money does not grow on trees so mine do chores to earn extra pocket money. I put the money in one of those sealed tins and we open it every 2 or 3 months and I let them buy something nice with it

We have a sticker chart throughout the week. If she is good and has listened she gets a sticker. When she gets to 10 stickers she gets £1. Up to her whether to save up for something or spend. She is 3 years and it seems to work well.