Pocket money for kids

SimonAH

My seven year old needs structured pocket money now to teach saving habits (and to work out the post Christmas revelation that you can't have something just because Daddy has credit cards)

How do you structure it with your kids? What is a reasonable amount these days?

Agent57

Mine started with just a pound a week when they were about 4 & 8 respectively. Now (9 and 13), they get £15 on the first Saturday of each month. This, I reckon, enables them to learn both saving for larger items, as well as making money last until they next get paid, rather than blowing it all as soon as they get it.

veronese68

When mine were aged 6 & 9 a third of their age seemed easy. Very bad at remembering to pay it and they only ever ask if they've seen something they want. That causes mild panic as I try to remember when they were last paid and check with the EPO if she's paid them.
It's a nightmare. Send them to work as chimney sweeps. That'll teach them the value of stuff and you won't have to remember if you've paid them.

Slow Downcp

Mine get £2 per year of their age each month - so £30 and £24 per month as 15 and 12 year olds. They only get it if their rooms are kept tidy and they help out with the odd job if I need it (rarely). They get paid on the 15th of the month, same as I do, so they know when to expect it, and I don't forget :oops:

Jay dubbleU

When I were a lad we were down t'pit at four years old - taught us proper values

spen666

Jay dubbleU wrote:

When I were a lad we were down t'pit at four years old - taught us proper values

problem is Maggie shut all the pits and there are a lack of chimneys to sweep these days

CRAIGO5000

My wood burning stove liner needs sweeping this November - it's a while off like, but still.