Pocket money...

[alibeau]

Hello!


I have only posted on the planning section previously but am looking for some more 'general' feedback please

We are nearing the end of our current holiday and don't have another one in the pipeline for a while as we have just moved house. We haven't ever got into a routine with pocket money as we have always had one scheme or another on the go for holiday spends....

So my question is this, our girls are 9 (10 in nov) and 7 1/2. What is the 'going rate' for pocket money at this age? Do you have a deal going where they are expected to do certain 'chores' in return? Tidy bedroom? Prepare school bags? Etc? Do they lose money if they are naughty etc?

Would love to hear your feedback? I am in need of an evil plan :-D

Thanks in advance.

Ali

 

[Ware Bears]

I gave my DDs pocket money right from when they were very small - I think it helps them learn to budget and to save up for things.

I never made them do chores for it (with hind sight perhaps I should have as my friend who has six children did and consequently had a much easier life ) nor withdrew it as a punishment, I always preferred grounding or loss of TV/computer time instead.

As to how much it's got to be what you can easily afford and don't be swayed by others - I was giving my teenager £5 a week when one of her friends was getting £20 off her mum and even more off her dad!

 

[buttercup1982]

I've just started a token system for my two (DD is 9 and DS is 8) they asked me how they could earn extra money for our holiday. I rarely have cash on me so I made a load of tokens with Disney stickers that they earn throughout the month and then at the end of the month they convert it to money. 1 token is 50p and I've been giving then it for things like hanging the washing on the line, keeping their room tidy. they keep asking me do I need anything doing around the house, it's fab!!

Oh and they cannot be taken off them, if someone tried to take my wages of me for not keeping my desk tidy I'd be really annoyed haha!!!