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Pocket money-whats right?

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when do you start, how do you start, whats the going rate?

I know some give their children more money than i have spare a week while others give them nothing

what do you do??

Mines only 18m so its a long way off yet!

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My nine year old gets two pounds fifty a week. Sixteen year old gets a fiver.

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and do you let them spend or save what ever they want with it?

does the 16yr have one of those cash cards for kids?

what happens if they are going to a party or out ? do you give extra? do you buy the present/card?

oh questions questions!:D

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and do you let them spend or save what ever they want with it?

does the 16yr have one of those cash cards for kids?

what happens if they are going to a party or out ? do you give extra? do you buy the present/card?

oh questions questions!:D

 

They're both very responsible with money fortunately - they tend to save it to buy stuff that they like - little one buys books and comics mainly. Eldest also has a paper round and is up at a quarter to six every day before school. If they ever want a little bit of extra for something I usually oblige because they rarely ask and, as I say are very responsible. Oldest does have his own cash card and bank account. I have a seperate account in my name for little one's money.

Cards and pressies for party's? Don't get me started! I do usually buy a bit of something as it happens but I think it's become a bit meaningless the way the going rate seems to be a fiver - I've seen many an occasion when the birthday boy or girl gets cards with a fiver in when people can't even be ar**ed to choose a present.

I prefer to try and find something small, cheap and amusing that the child will actually enjoy and use/play with.

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i know someone who does not "give" children the money they "earn" it.

 

They have a price list and for each box the child gets ticked they get paid, it really has taught them the value of money.

E.g

cleaning toilets £1, washing dishes £1 etc..

 

the list goes up to a maximum of £10 per week. Obviously with young children they cannot do certain things but its probably best to start em'young.

Mini Sav helps me with the washing, she knows how to put the stuff in machine and how much powder to put in and even exactly where to turn the dial! Its a shame really that she has not mastered hanging the clothes up to dry yet:hihi:

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i know someone who does not "give" children the money they "earn" it.

 

They have a price list and for each box the child gets ticked they get paid, it really has taught them the value of money.

E.g

cleaning toilets £1, washing dishes £1 etc..

 

 

shouldnt they do stuff like this anyay? well maybe not toilets!!

i know as a child i dusted hoovered washed pots and tidied my room etc.. that was just part of living as a family. used to get extra money for washing car. wasnt allowed a paper round-too dangerous?!?! parents!:D

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I intend to link chores with pocket money, as well. I realise that there are isuues with this: children should learn to pull their weight and co-operate with others without the need for monetary reward. BUT if they don't do their chores, I want them to know about it, and I think they would feel it if it hit their pocket (and therefore their sweets, toys, etc.).

I am thinking that there will be money for some chores (putting the bins out and bringing them in, etc...things that are more of a convenience if we don't have to do them), while some chores will simply be expected (tidying up after yourself, keeping your room clean, washing up, the general things that need doing to keep several people in one house comfortable).

 

HOWEVER: it's all up for change when he's actually old enough to do something other than put his toys away (then get bored and put them all out again) or help with the washing machine (and get carried away and set it going with his toys in when I'm not looking). No doubt my opinions will have changed by then....lol

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my eldest gets £1 a day and gets 10p taken away every time shes broken a house rule(saw it on teen tamer) only prob is she is doing better than i thought. but if she wants anything, sweets, comic ect its taken from her money, i dont allow her to blow it all though and get her to save at least half of it. my mum did somthing simular with me, gave me child benifit book and told me that i was to buy clothes, cinema tickets ect and not ask them for anything, made me more responsable with money. though id wait till young one is 9 or 10 before trying this method

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i started off getting 50p a week when i was about 10, and that went up to £4 by the time is was 16.

My parents said if i wanted anything else i would have to get a job, so i did, and since i was 13 i have had a part-time job. this gave me some cash to put in a small savings accout and showed me the value of money.

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i got enough money to cover bus fare and 50p emergency whilst at school-no need for money as i had packed lunch. i started work at 14 in a market and have worked ever since!

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Just bumping this as it asks my question but the replies are a bit dated now.

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Just doing a bit of research as i feel I may be under paying my two horrors. There are some threads on this but they are ancient and out of date.

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