How much pocket do you give weekly?

£10 a month my 9 year old has, it isnt much but im trying to get him to save it or get only what he actually wants. Im going to start getting him to do more chores to earn it though so he understands money more. Theres 7 years between my boys so my 2 year old doesnt get anything yet as theres no need😅

Here in Aus the kids have what’s called a “Dollarmite account” and the school is in collab w them so once a week all the kids bring in their folder and whatever notes/coins they have for the week, we give each girl $20-$50 a week depending if other people have given them money as well (Asian Gparents and Uncles and Aunties gift money) so even though yes they get pocket money it’s not theirs to spend. It goes into their acc. If they’ve bought something that week then whatever’s leftover then goes into their acc. They don’t have to earn it. It’s theirs by default. When teens they don’t do chores to earn money, they do chores by living under the roof and pitching in as a household member. So we don’t teach them the mentality of “we only do something if we get paid” No, they do chores wherever you live whether that’s by yourself, w friends, or w parents. Teaches them to not be lazy and only rely on helping others/pitching in, when it benefits them.

Nothing. I'm not giving my children money to tidy their room and house chores. They dont need monetary rewards

My kids aren't old enough to really understand money yet but they won't be given anything. If they want pocket money they can do extra/bonus chores on top of their normal chores to earn money

I never ever got pocket money, just money when I asked if I wanted to go out with friends etc. I did however used to save my school dinner money change to buy sweets and things on my way home 🤣. I’ve just opened a savings account for my LG and put the child benefit in there for her every month. I’m sure she will appreciate that more when she’s 18/21 and then might not hate me so much for not having actual pocket money 😂.

We don’t

@wildcat pocket money wouldn't be for doing housework. That's something that needs to be done & pocket money isn't for 'reward' either. Will still get it regardless, as it'll be a learning tool for money management.

I agree with those who’ve said chores shouldn’t be rewarded with money as it gives the wrong mindset. But I think pocket money is good as it teaches how much things actually cost early on. As they get older, I’d probably give them a little more but encourage to save half and spend half and let them regularly see the money building up in their account and set savings goals for a special toy or game they want. I really wish I’d had more financial education because suddenly you’re an older teen/young adult and have no idea how financial things work. The amount depends on the age. £5 isn’t getting a 14 year old anywhere, but a 6 year old doesn’t need more than a couple of pounds.

I give my 2yr old £1 a week to go to the shop to pick a treat at the weekend coz he's too young for proper pocket money just yet I feel

£10 a week

Also those saying ‘I won’t give pocket money’ etc what about when they’re older and want to go the cinema/bowling/theme park with their mates? Are you just going to hand the money over?

@Amy they have jobs to pay for those things

@SquishyMommy1 when they're old enough for a job (here is 16, 15 with a waiver) but I was doing movie dates with my girls at 11. Skating at least once a month and the teen club the skating rink did also once a month. Walk arounds at the mall needed food money.

@Kassie 🌒🌕🌘 it’s 16 here also. We don’t allow our kids to do things without an adult being there.

@SquishyMommy1 fair. My kids are single digit so I'm with ya. All those things had adults. The teen club also had security because middle schoolers like to fight. Lol but I have high hopes for my younger to be able to have "some friends at the movies" independence. The older....will need supervision.

With my eldest daughter she'd get money for any extra tasks (above her regular chores), but as she approached the double digits we mostly gave her money just on birthdays and if she needed it for an event or outing with friends. My youngest is too young for it but I think I will go with how she is about money. We were able to switch to more irregularity because she tended not to spend it

@Sarah🦄 but most parents give pocket money for chores. Whats the need for it at a young age? Why teach them about financial responsibility at such a young age? Why are we pushing our kids to grow up so fast?

@SquishyMommy1 my sons 11 he can’t get a job but still likes to go out with his friends and go do things 🤣 I ain’t getting into the habit of paying for everything he wants to do with his friends! But he can decide if it’s worth it

@wildcat its teaching life skills, why is that a bad thing?🤷🏼‍♀️ This is the article that got me questioning this in the 1st place; https://sarahockwell-smith.com/2018/04/16/when-and-how-should-you-handle-pocket-money/#:~:text=The%20giving%20of%20pocket%20money%20is%20unconditional.,they%20have%20been%20very%20good.

@Sarah🦄 life skills? So you would teach them about financial responsibility at 5? Why cant we just let kids be kids

@Amy I’m also not in the habit. They can do things around the house to earn money ON TOP of their chores. I don’t just hand my kids money and if they have no money. Guess who’s not going to the movies?

@Sarah🦄 they don't even know whats 9+10 yet ..they dont NEED it at this age ....this is silly like kids should be more focused on the brighter things not giving them these stresses so young its confusing for them ,i agree with @wildcat can't be just let kids be kids 🤷‍♀️we have already had a pandemic let them have there fun 😇

I will probably give me child pocket money once they hit high school and start going out with friends. Although probably will be £20 for a cinema ticket when that comes around 😂

Thank you to everyone who has commented. I have enjoyed reading everyones thoughts, opinions, suggestions, ideas & experiences. Lots of things for me to consider😊

when i was in elementary school i got $10 a day for lunch money, in middle and high school i got $50 a day for lunch money. school lunch was free lol but it was in case i was getting food outside of /or after school. for shopping or spending money i was given $300. if im going shopping with friends or for a special occasion i was given more. i plan on doing the same/similar with my kids but with inflation probably a bit more, and the same amount for each