A question about pocket money

(13 Posts)

DD will be 4 in a couple of months and we're considering starting to give her pocket money. Atm she gets 2 magazines a month (Octonauts and Alphablocks) so we were thinking 50p to £1 a week in addition to those.

Is this too stingy? Money's pretty tight (my mum sometimes buys the magazines if we can't afford to) but I don't know what's reasonable at this age. Any thoughts?

Mine are 4 and 6 and don't have pocket money yet. I suppose until they understand what money is/how much things are etc, I think it's kind of pointless.

My plan is to wait until they ask for pocket money - then negotiations will begin grin I also buy them magazines/treats etc on a fairly random basis, so they certainly don't need money of their own.

I know what you mean about learning how much things are. Tbh I think having pocket money can help with that - but then I've never done this before so what do I know? grin

Me neither, but we are all just making it up as we go along, aren't we?? shh that's the big secret out of the bag now

So yeah, I don't think it's stingy, I don't think it's necessary either but I don't think it's a terrible idea grin I am so bloody helpful, it's unreal

What a shit AIBU that would be grin

givemeaclue Sun 05-May-13 19:23:00

I think its pointless until they have numeracy skills to understand money. Most 4 year olds are not that advanced. I don't know any five year olds who get pocket money.

notcitrus Sun 05-May-13 19:27:24

Ds is nearly 5 and doesn't really get money and change yet, so I'm sticking to max one magazine a week, if he's done most of the activities and had the stories read in the last one, ie not just played with the toy on the front. So it's about 3 a month, because thankfully Octonauts only comes out every 4 weeks...

Once he can add up, I'll do what my parents did, enough for a.comic and a.small chocolate bar but not a big one. For now, anyway.

givemeaclue Mon 06-May-13 10:52:59

Kids can't understand how much things cost till they have a grip on numbers, otherwise whether its five pence or five pounds means nothig

IsThatTrue Mon 06-May-13 11:29:17

My dd (8) and ds(6) get pocket money at £5 a week into a bank account, but out of this they have to pay for their own after school clubs and 'help' towards big days out/new bikes (if they want a more expensive one than I give them budget for). They also do 'busy jobs' for sweetie money (pocket money may not be spent on sweeties/magazines it is for big things/saving) busy jobs can be anything from putting a load of washing on (with a little help with the liquid) to sweeping the floors and are paid out between 2p and 10p depending how much effort has to be put in. They get about £1.50-£2 every fortnight (when we count it up) but I get housework done too, win win IMHO!

valiumredhead Mon 06-May-13 22:07:15

Ds is 11 and gets £2 a week so not stingy at all imo.

BackforGood Mon 06-May-13 22:13:25

No point in giving them money until they understand the value of it, and a little about the change they will receive or what will happen if they save 2 weeks, etc.
We started all of ours when they got to 7. They also only get 10p per year of age, whilst at Primary school, so at 7, got 70p a week and at 10 got £1 a week.
No harm in saving £1 a week in a building society account or something for them, if you are able - it does begin to add up whilst being an amount you wouldn't miss, but no point in giving it to a 4 yr old.

valiumredhead Mon 06-May-13 22:22:53

We started ds at 5 or 6 iirc. Had no clue really about the value of money but he soon learned!

valiumredhead Mon 06-May-13 22:23:23

Before then we did a star chart and prizes.

EssexGurl Tue 07-May-13 18:51:45

My DS is 7 going on 8. DH and I had thought about pocket money and I asked many of his school friends mums. None of them gave pocket money, so we've shelved that idea for now.

Typically both sets of grandparents give the kids small change so he will often have the odd £1 or 50p and keeps those in a small wallet to buy the small thing of his own.

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