How much pocket money do you give your 10 year olds?

[Katie7]

I give �2.50 a month which doesn't include clothes, presents for friends, any extras for school, sweets/chocolate, a bimonthly magazine, and various other small treats. Am I really being as mean as I'm being told?
What does everyone else give and what extras does it include?
Thanks for your ideas.

[Skreecheeboy]

Yeah that's tight! I got �2 a week when I was about that age (right up till I was 15!) and I thought that was really tight.

[redcrx]

i didnt get pocket money but mum and dad were pretty generous if ever i needed anything.

It depends what the �2.50 is for and also how old your child is!

[baileybird]

yes that is very lean
i gave my 10 year old �5 a week
it doesnt go far but if you can't afford it it is a different matter

[redcrx]

sorry i missed the age.
I still reckon it depends what the money is to cover. If youre still buying comics, sweets and all the things kids usually get with pocket money then its not that bad i suppose

[4getmenot]

Got a pound for sweets at youth club on a friday. 10 yr olds dont really need own things, its when they are older and need personal things, deodrant, tampax etc

[Katie7]

At the moment the �2.50 only seems to go on stationery. But it does seem that if its there it has to be spent so I don't really know what � 5 a week would be spent on. Looks like a increase is on the way but haven't decided by how much yet.

[ChocolatChip]

What else would she really need to buy... You seem to buy everything else, I don't think i got pocket money at 10.

[DJerba]

Iused to get a �1 a week back in the 90s but then again I didn't get any extras for school, sweets/chocolate, a bimonthly magazines on top of that. Make them work for it plus remember the more you give them now the less incentive they will have to a) go out to work and b)want to work hard.

Treat em mean and all that!

[Ice.Maiden]

Mine get �10 a week, but are expected to save up for anything special that they particularly want. The youngest tends to hoard his, but the elder one saves up for a month or so and then buys CD's or uses it when he goes out with his friends. The rest is bought for them.

[toby99]

I don't give my daughter any, nor did I have any when I was a child. I don't know what she would spend it on.

[ethanryan]

i give mine 2.50 a week. but we have an agreement that if they want anything big, they save half and i put the other half.

[Katie7]

Thanks everyone I don't feel quite so mean now ! Like some of the ideas about rewards for saving this sounds like a good idea because as hard as I try saving is not her strong point so I will try that.

[sparkler]

Hiya!
My sons 11 and he gets �5 a week but only on the understanding that he HAS to bank a mininum of �2.50, this �2.50 is towards a car when he leaves school in 5yrs. I've told him I'll pay for his lessons and he can buy a little run about till he's saved enough wages to buy somthing better lol anyway since starting high school he's not had much time to go to the shops and so has banked it all hes got over �50 now and thinks he's Richard Branson lol!
But he does have to earn every penny of it, chores, behaviour & good marks at school ect

[annie0000]

If I were you, I would add up how much you spend on the sweets, comics etc and add the �2.50 to that and divide it out and give him that, on the understanding that he then buys his own sweets etc. You need to be tough in saying, when it is gone it is gone. This really teaches money management. I would be tempted to give a bit extra for savings and then adjust the amount he gets and what he has to buy with it as he gets older. I would say 1/3rd goes in the savings account, 1/3rd into the piggy bank for the end of month or holidays to buy treats like cd's and the rest is for day to day stuff. I have just started this with my 7 and 6 year old, they get �6.00 a week, �2 in the bank, �2 in piggy, and �2 for a comic and for tuck at school. They get an extra �1 on a Saturday if they do a few chores. At first they were realy reluctant to spend their own money as they didn't want to waste it! I have found so far, that it is saving me money as although it sounds a lot, when you add up what you usually spend, it actually works out cheaper 'cos they ask for less, knowing that you will tell them to buy it with their own money!

[maggs1703]

i did exactly the same as the above answer my son has now left school and is working and going to college but he knows his money is his and he is still as good with his money now as he was he had his pocket money but he had to get everything out of that except nesseseties ( cant spell) lol but it worked - good luck but i don't think 2.50 is a minimum for a ten year old i think it quite a lot i didn't start the other till my son went to high school when they do need more etc and built it up over the 5 years he ws there he had 20.00 a week but he also had 5.00 deducted fro his contract fone which he still pays for i hope this helps

[LittleMissxx]

U dont have to give them anything. (yes , i am about to get slated!!) I dont give my kids because i feel i provide for them well enough as it is. Although money is tight in our house. I would rather raise mine to respect things and earn it. At the mo they are too lazy to pick up after themselves so i dont think they deserve it. (believe me i love them too bits, i just want to teach them morales, respect, and that u dont get nothing for nothing) AM I WRONG ?

[annie0000]

I don't think you are wrong little miss, you need to do what you think is right, however, in the main, my boys behave very well, they get very good school reports and believe me they would not get the money if they didn't. The other side of it is that they need to learn to manage money and make their own choices. When their money is gone, that's it, there is no more. I have never been in debt in my life, my mum and dad did not have a lot, they mainly lived on cash and when the wages were sorted on a Friday, the money was all allocated out for bills etc before there was any left for other things. I feel that i was given a good example of money management and want to pass that on to my kids so that they understand that you need to work for what you get and save for what you want.

[Katie7]

You all have really good ideas on this - I'm thinking I need to give her more jobs to do around the house, washing up etc and in return she'll get a bit more. It's a really fine line between getting it just right and being way over generous. A lot has to do with what her friends are telling her what they get She says some get �10 a week but i'm doubtful if this is true. Of course she won't be telling me about the ones who get nothing and neither does the fact of having pets and the cost of them enter her head when all is what her friends have is a goldfish or nothing I often say what would you prefer the new game or your pets and the pets is always the reply. But she really does need to learn to save as well as treat herself. Your ideas have really helped thankyou.

[treborrobert]

children look up to there parents.. so you tell her to save... say �2 week out of �5 wk and if she saves for 1 full year she will have �100 plus in her bank and every year you will put in �10 extra for all her hard work so she will have �114.00 plus interest from the bank egc.. you learn her now and she will grow up to be good with money.. how do i know i did it with my kids and none of then drink / drugs and they both work and they continue to save themselfs.. if you dont do it when they are young they will turn to credit cards egc and never be responcerble... you are the key remember that.