I've two daughters of 5 and 7 and neither of tham have the first clue about the value of money. It's my own fault as if they want something they have to ask for it and never get to oay for it themselves.

They have piggy banks full of coppers but they have no idea what they can buy with it.

I reckon they're at an age now were I should be giving them anallowance so they can learn how much things cost and the reality of saving for larger items.

So how much is a reasonable amount because I want them to learn when it's spent you have to go without.

 

F*ck all and they should thank you for it. Tell them they can have money when they earn it for cleaning the car, cleaning the house etc. Then they'll start to appreciate the value of money. Kids these days have it too easy

 

I agree with CD. Let them earn the cash as he said, allow them to spend it as they wish. When it runs out they have to earn some more. If they want to buy something more expensive, then they should learn to save up for it.

Les

 

My son is 8 & gets £6pw from his grandparents, nowt from me

TX.

 

Thats a bit harsh, there aint no point having them unless you can spoil them rotten! Seriously though I think a couple of quid for the 5 year old and maybe a quid more for the older one. They only get it if they do all their chores, ie tidy eat properly good at skool etc etc. Plus a trust fund which they receive at 17 on the condition that it is spent on a scoob.

 

5 and 7 are too young for true pocket money IMHO.....just give them a few quid here and there so they can "save" for something special.

And the Scoob trust fund is a good ideal too LOL

Shaun

 

I've got 2 boys aged 3 and 5 and while they're a bit young for pocket money they do have piggy banks, any money they get from nan and grandad or from us they save up.

They both emptied their piggy banks a couple of weeks ago as they'd spotted a toy in Tesco they wanted to buy which was £40, they emptied their piggy banks and clubbed together to buy it.

They're now saving up for something else they want!!

They both have a trust fund which has £50 per month paid into each but they get that when they're 18 - I'm hoping which will be used to fund university

 

7 and 4 y old - they get £ 1.75p each a week if and i do mean 'if' they keep their room clean and tidy along with tidying up after themsleves generally.

Just giving money over will not teach the value to kids or indeed adults. Money needs to be earned.

 

Twin girls at 7.

No pocket money, jobs for cash.

Funny (true) story. Couple of weeks ago, Bro in Law asked them how much they had saved. One said £37, the other £40. He said 'If you give it to me you can have half of whats in my whisky bottle (all coppers) which is 3/4 full (The big ones, you know the sort). Daughter 1 said "Ok you're on", daughter 2 said "I need to think about it ".

Daughter 1 and Bro in law started counting and after a while daughter 2 also agreed.

Final count, which Bro in law was REALLY not expecting................ £240! He lived up to his end of the bargain and they're now looking at an Ipod touch each!

Girls learned how to fleece a muppet, Bro in Law learned his own lesson, lol

 

My two sons 5 and 10 get £7 a week ,both have been saving for the gadget show next month including money they have had for their birthdays they've saved nearly £150 each .They wash the pots ,polish my shoes and tidy their bedrooms and when the sun eventually gets here will be painting the shed and garden furniture

 

my sons are 9 and 4 the 9 year old gets £5 p/w and saves most of it (after buying that top gear kids magazine) to be fair to him, he then go,s and buys a computer game he wants with the rest every couple of months. my 4 year old gets a kiddies magazine with free gift on the front every week instead of money. i do believe they should know about working for there money but they are only kids at the moment so whats the point forcing them into adult responsibilities such as money management at such a young age?

 

My son is 3 and pays me pockets money for the pleasure of me letting him work down the mines.

 

No kids myself but i get a fiver a week from the missus which i can spend on ANYTHING i like! I got me some Merlin Footy Stickers today to put on my car!

 

Got any swopsies?

 

That should help cover up the rust and holes in that Alfa and help hold it together Plus you double its value in the process

 

Dad.. dad.. can I get that new Xbox game it's only £40.00. Yes son save up for six months without buying any sweets and keeping your room clean and it's yours.

What a tightwad dad you are.

 

My girls are 12 and 9, they get 3 pound each per week. But if they are naughty they lose it. Suffice to say they hardly ever get it LOL.

 

A blue one what?

Les

 

 

Niiiice!

Les

 

My two girls 7 & 11 dont get pocket money as to say, I put the loose change in my pocket into their piggy banks. Which each one is sitting over £60 at the moment.

Also I put money each month into a saving account for each one of them. Been doing that since the day they were born and that will mature when they are 18. So with a bit of luck there should be a few grand there for them.

Im hoping the savings that have mounted over the years will go onto further education, but Il leave that choice to themselves.

 

ooops double post.

 

I don't give my daughter any but if she asks for anything I would just buy it and if she goes out anywhere I would give her a little bit cash.

 

My son is 10 and I give him £10 a day that he helps me, he is actually starting to get really useful with fetching/carrying finding tools etc.

I had his Mothers (my ex) parents complaining to me that its all very wrong and I shouldn't be making him work for it etc "child labour"

Personally I see nothing wrong with it and he loves it/learns lots of cool stuff and he has quite a few quid stashed in the bank.

 

A tenner a day for a 10year old would have kicked ***!
My first real job at 14 gave me just under £17 a day ffs.

 

3.5 and 5 year olds.

They get 50p per week, if they do their chores, which are tidy up their rooms once a week and lay the table for every meal time.

When they understand money, I'm sure it will go up!!

 

I used to get 5 shillings for a day's gardening. That was just enough to get some petrol for the 'bike!

Les