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 kids are quite young but I still get them to help out when they can. Doing little jobs every now and then gets rewarded.

My two get a little bit of pocket money each week - they save this to have as spending money when we do little day trips or breaks - so they have money to spend on souvenirs.
If they want to save for anything else they can earn money by helping me with household chores - washing the dishes, hoovering, mopping etc.

Make beds and tidy rooms.

I stay firm. It sounds ridiculous, but it's easy to give in to your adorable kids. If the dishwasher isn't emptied, no 50p will be forthcoming, regardless of how loud the ice cream man is chiming!

They have to do there chores to recieve their pocket money. But they also get a chance to boost it if they get all their spellings right or do exceptionally well on a piece of school work

My eldest is 4 so doesnt get pocket money yet. However, when we do start with it, he will be expected to assist with jobs as part of earning it. He will be taught that chores is part of being a family but jobs allow you to earn money to buy the things you want.

Chore chart!

My little one is 5 months old and I don't know what I'll do in 5 years(?) time when pocket money starts! Whilst I now understand how my mum tried to get me to save - I didn't understand it at the time! So something I'm starting to consider is how I will handle this when the time comes. I'm enjoying reading everyones methods for inspiration :)

My 2 (nearly 9) sort out socks to wash and pair the dry ones, load dishwsher, peel veg, lay the table and at the weekend we all changed the beds together.
They generally are quite good around the house, keeping things tidy and they get a couple of pounds each week.

We do it on a reward basis, so piano practice is 50p, a goal or try is 50p, school awards vary between 50p and £2.50. I don't make them do housework as they do lots of activities/ extra homework after school. The aim of the picket money is to instil in them the desire to strive for excellence (my dh thinks is rubbish and I should treat them like mini slaves to help get housework done, so I gave time once in a while to put my feet up )

My dd is nearly four, she helps with house jobs currently such as setting the table and helping load clothes into the washing machine. She also has to take plates away and tidy toys before more come out. Currently we link this to small treats for being super helpful, a magazine or a pack of game cards etc. However as she gets older this will turn into more formal pocket money.

Ds is 16. He gets pocket money (£10/week) but is expected to get the Sunday paper (just gone up to £1.80) out of that.

He has not enough tasks that he is expected to complete around the house, like emptying the recycling bin and bringing down his dirty clothes on a Saturday if he wants them washed.

We have a list of chores on the fridge, most of them they can choose to do if they want extra money eg setting dinner table 20p, tidying room 50p. We just tick what they've done as they go along and have pay day at the end of the month. DS (8) main job, which he must do, is emptying dishwasher every day, which is 50p a time, DD (14) does the ironing of her and her brother's clothes every week, for which she gets £20 a month. No jobs done = no money!

DS gets small amounts on an ad hoc basis, but knows he can earn more by undertaking tasks that he completes properly. Needn't be anything major; bit of weeding maybe, or helping with degorating. He's very good at saving - much better than I am, and can usually save for larger purchases within months.

I don't like to tell my children that they are being paid for helping out. I want them to learn and understand that everyone helps with the jobs anyway, otherwise they will always expect payment for something that everyone in the house should be naturally doing to help. The giving of pocket money is given as a way to reward respect for each other in the house.

My DS is 3 and I don't give him pocket money yet. But I do try and teach him the value of money - for example if we are out and he wants to go to a cafe or wants a toy, we talk about them costing money and how money has to be earned.

we give our little girl a bit of money (20p - 50p) if she does a job (helps clean car, sweeping etc) without being asked to and does it well and hasn't asked for money.

I give my kid pocket money for keeping his room clean and tidy. He loves it!

Hi Good morning!

I told my 6year son n 4year daughter that all the week they have to wake up earlier with happy face greeting each other brush teeth put cream chipstic perfume 5 things.

eat food properly seat properly, small bites, no nois, say thanks to cooker, pray,

going out remember 5 things to do
witch is: take school bag, chack doors, windows, drink water, eat nice smell Chiclet, chack your cloths.

evry time they follow they get 20 pound end of week from me 10 from grand parents.

my son always do all of the things and know its turning in to his habit.

thanks
kind regard

I forgot to mention He also tidy up his bedroom and drink water in morning.

I've always rewarded my son with pocket money for good work at school, extra for certificates and also for his swimming which he goes to 4 days a week.

My daughter is 5 and doesn't earn pocket money (yet).
However, we go by a reward chart. We have one section for behaviour at school, behaviour at home and then for helping people (mum,dad,childminder,grandparents). This can be helping clear the table and helping clean the house with me.

We also encourage that she saves up her money in her money box's to put towards things she wants....to learn the value of money and hardwork

Our son always had £3 a week pocket money which was docked if his room was messy.
At 11 when he stated high school, we started paying £25 per month into his bank account. He has a cash card for this, but very rarely does he withdraw it. He saves much more this way as the money is not in his hand

We have a little reward card I stamp (like a coffee shop one/ cafe Nero). I stamp it when they've done helpful jobs - making bed, unloading dishwasher etc in return for cash pocket money.

My ds does housework to earn his pocket money and if he wants to buy something he saves for it and used his money. Dd2 is too young so we pay any money into her account which she does alone with the help from the nice lady at the bank.