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  1. #1
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    Default Pocket money

    Hi everyone. I wanted to ask if parents here were giving their children pocket money. I have a 8 year old and I am unsure of whether to give her money or just buy ad hoc when they want something. Also what do parents think of giving their child a debit card in their name to spend? Thanks!

  2. #2
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    No pocket money here. I'm slack at following through and often forget what I want them to do. Also there are basic things which I expect them to do as part of a family and not for reward.

    So I give them money if they want something specific. We roughly work out what it would equate to for pocket money as to whether it's reasonable. Or I work out a trade between what they want and specific things I need them to do.

    My kids tend to not want to spend their pocket money so I find this works best for us.

  3. #3
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    My kids get pocket money when I can remember. It's usually $5 a week each if they do jobs. They whinge sometimes. DD2 is more motivated than DD1 and can be a bit of a scammer...might be in her blood, my brother is a real estate agent lol

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    My kids are a little older, 10 and 13, and for the last couple of years I have deposited $10/wk each into their bank accounts. It's on the condition that they contribute to the household as asked. ..ie if I ask them to hang washing, empty dishwasher, they will do it without complaint. They are expected to buy their own "extra" things with their own money - so if my DD wants to go shopping with a friend she uses her own money or if they want to "upgrade" their everyday things (ie my DD just paid the difference between what I'd normally spend on sneakers to get Nikes). If we go on holiday, they bring their own spending money...
    Because it's in the bank it's not wasted on junk and they can put thought into their purchases or set a big goal (my son bought himself a $150 skateboard ), which leads to self control and independence. They keep track of how much money they have on (my) Netbank. This system works really well for us...

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    DS 9 gets $8 a week. He has yo follow his chore chart for the week. They also pick the 8 things each they need to do to reach their goal. But if say the lawn needs to be mown they will get an extra $5 for that as its not that easy a job to do. I save up the cash for them. So example this school holidays they are going away with my folks for 10 days so I've put some $ in their wallet. Normally it would go in the bank at the end of the term. DS also collects cans and bottles for 10c as we are in SA and we recycle them so $ for that aswell

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    I used to give DS 9yrs old pocket money but I stopped because he should be contributing to the house work as he helps make the mess. He usually helps without complaining if I ask him to do something. My mum will give him money every few weeks though.

    I usually just buy what he needs plus he gets extras like tuckshop every week too.


 

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