+ Reply to Thread
Page 2 of 2 FirstFirst 12
Results 11 to 17 of 17
  1. #11
    Join Date
    Dec 2010
    Posts
    8,794
    Thanks
    3,395
    Thanked
    3,081
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Quote Originally Posted by MummyNanny View Post
    We are about to start "pocket money" for DS1 when he starts school in a few weeks.
    The school has a banking program one day per week. I was watching TV the other day and the speaker also suggested starting at school age, and giving $1 for each year they are ($5 at 5 yrs) They also suggested letting the child save & spend (with guidance) to learn the true value of money
    Every family is different, in our family DS has jobs he need to do because he is a member in this family. He makes his bed, feeds the animals, sets the dinner table, put his own dirty washing in basket etc
    For us, pocket money is separate to that. When he gets older we might see if he want to wash car's/mow lawns as a job for money
    That's how I do it. I won't pay her for cleaning up after herself or keeping her room looking respectable, but I will give her money for other things she does.

  2. #12
    Gothel's Avatar
    Gothel is offline Skip the drama, stay with Mama!
    Join Date
    Apr 2007
    Location
    Stressame Street
    Posts
    6,515
    Thanks
    2,368
    Thanked
    2,113
    Reviews
    1
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    It wasn't jobs so much as whenever i noticed her being good. A friend gave me the idea, she used it with her son. So for using her manners, sharing with her sister, packing up her toys etc, I would say 'hey, well done! lets get a star!' I had a piece of paper in a magnetic frame on the fridge, and some small stars, and we'd fill that up and count them at the end of the week. Then i just pulled a handful of coins from the spare change jar and let her play with them before they went in her money box.

    I like what you mum did! Give a decent amount and make them spend it on useful stuff! I might stash that one away for future reference if you don't mind!

  3. #13
    Join Date
    Oct 2007
    Location
    Melbourne
    Posts
    14,750
    Thanks
    2,078
    Thanked
    3,540
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    My kids do not get paid to do housework/chores as that is part of living in a family, in a home with other people and generally a lifes expectation. They set/clear the table, unpack dishwasher, feed pets and clean their room. If they don't do their jobs, they must pay the charlady (aka Mum) $1 per job (same as if I hired a cleaning lady to do the jobs around the house I must do but don't get paid to do)

    My kids do get a 'minimal' pocket money, where they get $1 per year of age per week (ie 7yo gets $7pw) and they MUST bank approx 1/3 and also donate something towards the charity of their choice (encourages philanthropy and is also similar to 'tax')

    They do get paid to do extra stuff, like wash the car or when they come to work with me to do the cleaning.

    In order to 'teach' about money management, my kids are allowed to laybuy stuff at the toy shop, the book shop or EB Games - they now know they need to have enough of a deposit that they can pay the balance within 8 weeks. They also know they have to save money to spend when on holidays. They each have a school banking account and get their statements monthly. Neither of my kids know how much has been put away for them from their acting work - THAT is a surprise in years to come.

    They also have, from time to time, had to pay and replace stuff they've lost or broken from their pocket money - both kids have lost dance shoes, and the second time they had to pay me back for the lost shoe replacement - they've NEVER lost a third pair of shoes . DD has had to replace stuff she's broken or defaced of DS's - several weeks of no pocket money (ie paying stuff off) has taught THAT lesson well.

  4. The Following User Says Thank You to WorkingClassMum For This Useful Post:

    MummyNanny  (12-01-2012)

  5. #14
    Join Date
    Apr 2006
    Posts
    8,705
    Thanks
    581
    Thanked
    647
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    I'm a little on the fence with this. I don't think kids should get paid for doing household chores- DS and I both live in the house, we both contribute to the mess so we can both clean it up (DS chore atm at 6 is to take the rubbish out- a 40m walk so we bought a wheelbarrow for the job). But than, I don't think they should just get money for nothing (if only that's how it worked). I also like the idea of putting money in seperate tins, and making them accountable for items usually supplied without question.

    DS "contributed" to the buying of our car, and he's "contributing" to the purchasing of our caravan. He has $58 saved up so far! That'll get us a.......light bulb???

  6. #15
    Join Date
    Dec 2011
    Posts
    430
    Thanks
    1
    Thanked
    55
    Reviews
    0
    My DD is 3 and we get her to help with chores around the house. She currently helps load the washing machine, help make her bed, put her underwear away, vacuum her bedroom & helps unload the dishwasher. She gets $2 a week and puts it in her money box.

  7. #16
    Join Date
    Jul 2010
    Posts
    10,294
    Thanks
    3,115
    Thanked
    6,304
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    Quote Originally Posted by Ali G View Post
    I was given pocket money of $5 per week but from that I had jars to fill so $2 school books, $1 clothes, 50c spending and $1.50 saving.

    now I look back I think it was brilliant and will do the same for our child, teaches you to have money but it's not all fun and games.

    Sent from my HTC Desire HD A9191 using BubHub
    Love that idea! I think when DS is a bit older I'll steal that idea, maybe 3 separate money boxes - 1 for saving, 1 for spending and 1 for the child we sponsored in his name in Tanzania

  8. #17
    Join Date
    Feb 2007
    Location
    Melbourne
    Posts
    592
    Thanks
    78
    Thanked
    25
    Reviews
    0
    Achievements:Topaz Star - 500 posts
    WorkingClassMum, your whole post sound exactly like what we want to put into practice
    Quote Originally Posted by WorkingClassMum View Post

    My kids do get a 'minimal' pocket money, where they get $1 per year of age per week (ie 7yo gets $7pw) and they MUST bank approx 1/3 and also donate something towards the charity of their choice (encourages philanthropy and is also similar to 'tax')
    I posted earlier about what we do but I had never thought about adding in the "donate" idea (we budget for charities ourselves, just hadn't considered DS too) Thank you


 

Similar Threads

  1. Pocket money - what age??
    By Jarylee in forum General Chat
    Replies: 2
    Last Post: 21-04-2012, 16:43
  2. Pocket money for a 5 yr old???
    By LivinOnAPrayer in forum General Parenting Tips, Advice & Chat
    Replies: 21
    Last Post: 10-04-2012, 17:08
  3. How much pocket money for a four year old?
    By CluckySC in forum General Parenting Tips, Advice & Chat
    Replies: 15
    Last Post: 07-01-2012, 09:00

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
free weekly newsletters | sign up now!
who are these people who write great posts? meet our hubbub authors!
Learn how you can contribute to the hubbub!

reviews
learn how you can become a reviewer!

competitions

forum - chatting now
christmas gift guidesee all Red Stocking
Pyjamas.com.au
With so many gorgeous brands and styles for every season, our pyjamas, nighties, robes, sleepsuits and sleeping bags are lovely for lights out and perfect for lazy days. Get 10% off first order using code bubhub. Be quick offer ends 31/12/16.
sales & new stuffsee all
Pea Pods
Buy 2 Award Winning Pea Pods Reusable One Size Nappies for only $38 (in your choice of colours) and receive a FREE roll of Bamboo Liners. Don't miss out, we don't usually have discounts on the nappies, so grab this special offer!
Special Offer! Save $12
featured supporter
Transition into Parenthood / Calmbirth Sydney
Julie's Transition into Parenthood and Calmbirth courses for pregnant couples will get you ready, prepared and organised for the wonderful birth of your beautiful new baby. Birth Support Doula training provided in 2017 open to all. Call 0401 265 530
gotcha
X

Pregnant for the first-time?

Not sure where to start? We can help!

Our Insider Programs for pregnancy first-timers will lead you step-by-step through the 14 Pregnancy Must Dos!