Pocket Money - Advice Please!!!

[kariah]

Hi I have an 8 year old boy and as a number of his friends get pocket money I wondered if anyone would mind sharing what they pay to their children around this age. Also, do they have to do anything for this? Should they do anything for this? Should any be deducted for good behaviour or any added for good behaviour?!!

I nearly fell over a few of years ago when I discovered the 'going-rate' for the tooth fairy was £5 per tooth!! This pressure sometimes gets me sooo frustrated, as what can you do/say when wealthier parents can afford better rates?

I am a recently separated mum who is not working due to MS/health problems.

Thanks in advance for your input XXX

[Meg888]

I must be terrible because I've only just started giving my daughter pocket money and she's 14!! But I always funded sweets, treats & days out etc. I would have thought between 3 & 5 pounds would be reasonable. I now give my daughter £10 pw, as does her dad (we're divorced) but out of this she buys her own school lunches and anything else she wants. We still buy her clothes obviously when necessary, but she soon learned that if she stopped eating so many sweets she saves a fortune, which she uses to go into town shopping with her pals.

[NOX]

Well, we always used to insist that the kids got nothing as in terms of treats bought by us weekly, had a basic pocket money of £5.00 for everything they wanted but earned money by doing things to be helpful. As sherrard says some things were expected anyway, but main things like bathing the dog, weeding, doing all the laundry etc gained additional money, so that by the time they were 8-10 they were pretty savvy with money, knowing they had to manage it carefully and that their own efforts lead to nicer things. By 11 their allowance went up to incorporate enough to buy clothes shoes etc once they'd got the hang of it, and we allowed them to be entirely self managing with regards to that.
Don't feel under pressure to do things you don't feel you can financially, give them what you can afford and tell them the financial situation, kids are very grown up given the opportunity to be, and it won't hurt them any.

[Ankou]

£5 for the tooth fairy??? mine get silver milk bottle tops if they are lucky!

i am not in the realms of pocket money yet, but i would probably be looking at £1 per day, and bonus for extra good school marks/ helping with chores (up to an absolute max of say £8-£10).

its good to incentvise from an early age. in life you cannot expect something for nothing, so they need to learn this at an early age.

[ummmm]

I'm amazed how good my lazy boys are when they want money. My youngest can clean to my standards.....so why can't he manage when money isn't involved?

[flip_flop]

The Tooth Fairy leaves nothing like £5.00 in my house.

My 8 year old doesn't get pocket money - but, within reason, if she wants something it will be bought for her (I'm talking sherbet dipdabs, Barbie magazines etc... - not toys).

I suspect the subject of pocket money will rear its head soon, and when it does I will take a view on how much is appropriate - £10 a month seems reasonable.

She will not be made to do chores to earn it though - she will have a lifetime of work soon enough so I'm content to watch her play and enjoy her childhood.