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  1. #1
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    Default How much pocket money for a four year old?

    DS1 will be four in March and I want to start introducing pocket money.

    It's important to DH and I that he learns good habits with money from the beginning so when we start the pocket money we're also giving him one of those money boxes that are divided into sections. The one I have in mind has sections for Living, Giving, Saving and Wealthing (living being for day to day, giving being for a charity, saving being for things they want to save for, wealthing being for their future).

    I was thinking of giving the pocket money in dollar coins to help him divide it, and suggest a dollar a week goes into giving, another into saving and another into wealthing. So whatever remains is what he'd be left with for day to day spending.

    What do you think is a fair amount? I was thinking maybe $6. DH thinks more, my mother thinks less.

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    I was going to say $5 so $6 is a fair amount.

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    I work out chores and put a value per chore. No chores completed, no money given. Personal things like making bed, puttin away own toys, plate, etc don't count as chores. Wiping down benches, table, etc does, doing dishes does.

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    I'd give a dollar for each of the sections.

    Sent from my T3020 using BubHub

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    I used to get a dollar for my age so 4 Years old=$4, 10 Years old=$10 etc

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    5yo DD gets $2.50 a week in her hand and $2.50 in a savings account, so $5 total

  7. #7
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    bunkx is offline Being happy doesn't mean that everything is perfect. It means that you've decided to look beyond the imperfections
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    im going to start giving my 3 & 5 year olds $5 a week pocket money in the next few weeks

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    I think $5. Maybe let him choose how to divide the money up.

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    Quote Originally Posted by missie_mack View Post
    I must be mean. I give DS $2 pw if he keeps his room clean. He thinks he is loaded lol
    I'm mean, too. A clean room is an expectation here, not something worthy of money. I make her work for anything else. $1 per day for doing the dishes and wiping over the benches, and $1 if she helps clean the bathroom once a week. Potentially $8 per week, but she won't always do it, so she often earns less. Cleaning the litter tray, going on poop patrols, feeding the animals, and putting away her own clothes are also expected, not paid chores.

  10. The Following User Says Thank You to share a book For This Useful Post:

    bunkx  (06-01-2012)

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    bunkx is offline Being happy doesn't mean that everything is perfect. It means that you've decided to look beyond the imperfections
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    Quote Originally Posted by share a book View Post
    I'm mean, too. A clean room is an expectation here, not something worthy of money. I make her work for anything else. $1 per day for doing the dishes and wiping over the benches, and $1 if she helps clean the bathroom once a week. Potentially $8 per week, but she won't always do it, so she often earns less. Cleaning the litter tray, going on poop patrols, feeding the animals, and putting away her own clothes are also expected, not paid chores.

    thats the same in our house some jobs = no money because that is what expected of you. You need to clean up after yourself, learn to put your clothes away and dishes is something that everyone helps with because we all eat


 

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