Do your kids get pocket money
#1
Do your kids get pocket money
Just thinking about starting to give my son pocket money for jobs around the house. Dishwasher, cutting grass etc
Wahts everyone else paying, wouldn't wanna over pay the lad would i.
Ha ha
Jazzys
Wahts everyone else paying, wouldn't wanna over pay the lad would i.
Ha ha
Jazzys
#3
Re: Do your kids get pocket money
He's just turned 13.
He has started seeing stuff he'd like but i've told him he can earn it and he's fine with that but just didn't know what the going rate is
Jazzys
He has started seeing stuff he'd like but i've told him he can earn it and he's fine with that but just didn't know what the going rate is
Jazzys
#4
Re: Do your kids get pocket money
I think it's a really good way to teach kids the value of money. We had to put half of it in the piggy bank and the other half we could spend if we wanted. I had loads of tins all labelled with what I was saving up for! (the big one being a gameboy colour at the time...)
#6
Re: Do your kids get pocket money
Thats what i was gunna do, put a price on jobs. No job, no money.
Might as well get used to it eh
Jazzys
Might as well get used to it eh
Jazzys
#7
Account Closed
Joined: Jun 2007
Posts: 3,821
Re: Do your kids get pocket money
We do this.. plus we also get them to write on a peice of paper what they earn and what they spend... get them used to debits and credits.. debit when you earn money and add it to the sheet and credit when you spend money or take it off the sheet..
We also implemented a save 10% of what you have... and opened another accounting sheet for them
They write it on there and are responsible for keeping their accounts balanced ! haha! we sign off all transactions (only because we want to makesure that the kids are doing it all OK).. if they muck up and overspend they get a $1 penality and if they save then they get some dollars interest
Sounds a bit horrendous, but its not really.. takes a few moments and hopefully they will learn some skills at keeping track of their money... they have a few bob (not huge amounts, but quite a bit) in their savings now, and we are now encouraging them to turn these savings into something that might earn a few quid... ie, like buy a silver coin from the Perth Mint and then see what it is worth in a few months... have warned them that investments can devalue also..
eeek! have gone off on a tangent now! sorry!
Em x
We also implemented a save 10% of what you have... and opened another accounting sheet for them
They write it on there and are responsible for keeping their accounts balanced ! haha! we sign off all transactions (only because we want to makesure that the kids are doing it all OK).. if they muck up and overspend they get a $1 penality and if they save then they get some dollars interest
Sounds a bit horrendous, but its not really.. takes a few moments and hopefully they will learn some skills at keeping track of their money... they have a few bob (not huge amounts, but quite a bit) in their savings now, and we are now encouraging them to turn these savings into something that might earn a few quid... ie, like buy a silver coin from the Perth Mint and then see what it is worth in a few months... have warned them that investments can devalue also..
eeek! have gone off on a tangent now! sorry!
Em x
#8
Re: Do your kids get pocket money
We do this.. plus we also get them to write on a peice of paper what they earn and what they spend... get them used to debits and credits.. debit when you earn money and add it to the sheet and credit when you spend money or take it off the sheet..
We also implemented a save 10% of what you have... and opened another accounting sheet for them
They write it on there and are responsible for keeping their accounts balanced ! haha! we sign off all transactions (only because we want to makesure that the kids are doing it all OK).. if they muck up and overspend they get a $1 penality and if they save then they get some dollars interest
Sounds a bit horrendous, but its not really.. takes a few moments and hopefully they will learn some skills at keeping track of their money... they have a few bob (not huge amounts, but quite a bit) in their savings now, and we are now encouraging them to turn these savings into something that might earn a few quid... ie, like buy a silver coin from the Perth Mint and then see what it is worth in a few months... have warned them that investments can devalue also..
eeek! have gone off on a tangent now! sorry!
Em x
We also implemented a save 10% of what you have... and opened another accounting sheet for them
They write it on there and are responsible for keeping their accounts balanced ! haha! we sign off all transactions (only because we want to makesure that the kids are doing it all OK).. if they muck up and overspend they get a $1 penality and if they save then they get some dollars interest
Sounds a bit horrendous, but its not really.. takes a few moments and hopefully they will learn some skills at keeping track of their money... they have a few bob (not huge amounts, but quite a bit) in their savings now, and we are now encouraging them to turn these savings into something that might earn a few quid... ie, like buy a silver coin from the Perth Mint and then see what it is worth in a few months... have warned them that investments can devalue also..
eeek! have gone off on a tangent now! sorry!
Em x
well done and thanks
Jazzys
#9
Guest
Posts: n/a
Re: Do your kids get pocket money
Mine is 12, but she has a range of friends, and they seem to differ widely on what they get, and whether they do things for it.
Soem websites I have been looking at:
http://www.communities.qld.gov.au/fa...en/pocket.html
http://www.cyh.com/HealthTopics/Heal...np=282&id=2235
http://raisingchildren.net.au/articl...ket_money.html
http://www.careerone.com.au/news-adv...girls-20081027
and a Newspaper report:
A survey by pay-TV channel Cartoon Network found parents who admitted to giving their child $500 a week to spend.
But not all kids were so lucky. At the other end of the scale, almost a third of kids get nothing, while some get as little as $1 a week.
According to The New Generations 2008 survey, 68 per cent of children aged seven to 14 years receive pocket money, with boys getting more than girls.
They pocket an average $7.60 a week, compared to $6.80 for girls.
But not all kids were so lucky. At the other end of the scale, almost a third of kids get nothing, while some get as little as $1 a week.
According to The New Generations 2008 survey, 68 per cent of children aged seven to 14 years receive pocket money, with boys getting more than girls.
They pocket an average $7.60 a week, compared to $6.80 for girls.
#10
Account Closed
Joined: Jun 2007
Posts: 3,821
Re: Do your kids get pocket money
Em x
PS The kids rebel against it still... get all mardy when we say "add it on to the sheet" but if it rubs off just a little then we have done our job! xxx
#11
Re: Do your kids get pocket money
We were travelling/backpacking for nearly a year! lol! The kids would sit back, watch us do all the packing and work and then ask for ice-creams when we were out next.. suddenly we realised that something serious was amiss and as parents we were giving out a terrible example.. so OH decided, in for a penny, in for a pound and implemented this whole new system...
Em x
PS The kids rebel against it still... get all mardy when we say "add it on to the sheet" but if it rubs off just a little then we have done our job! xxx
Em x
PS The kids rebel against it still... get all mardy when we say "add it on to the sheet" but if it rubs off just a little then we have done our job! xxx
keep it up, if they weren't whingeing about the sheet they'd be whingeing about summat else.
Jazzys
#13
Re: Do your kids get pocket money
Our teen gets a dollar for each year of her age on the proviso she unloads the dishwasher as and when and cleans the bathroom at the weekend. If she does lots of other things we give her extra for "big" weekends etc.
The 11 year old gets $5 for emptying the recycling and bins, but he gets money for the cinema etc., He always has more money than the 14 YO though
The 11 year old gets $5 for emptying the recycling and bins, but he gets money for the cinema etc., He always has more money than the 14 YO though
#14
Re: Do your kids get pocket money
My 11 year old gets $10 a week. She has to keep her room tidy, empty dishwasher, clear table and be nice to her sister for that. She saved up for her own Nintendo DS and her own Ipod. She is now saving for some naff skate shoes I refuse to buy. I keep her phone topped up but anything else she wants she pays for herself.
#15
Aussie Finn Mixture!
Joined: May 2005
Location: Leschenault WA (after few locations around WA and Around Europe!)
Posts: 1,151
Re: Do your kids get pocket money
Ours get $1 per year of their age (9 yr old gets $9, 7 yr gets $7 etc) but only IF they have done their duties, ie. kept their rooms tidy, made their bed, collected their toys etc. They can earn extra money by taking rubbish out, helping with washing the cars, sweeping outside, drying the dishes, hanging out washing etc.... depending on the job, going rate at our house is between 50c - $1 per job.... but also.... if misbehaving and giving trouble, deductions to pocket money follows.... Sounds hard, but seems to work in our house quite well.
Also with Layby, we have been teaching it to the kids. If they want something worth say worth $100, they keep taking their pocket money to the store to layby it, and it makes them realise that to get that stuff, they have to earn it and as it is expensive, little waiting time and more work is required, it doesn't just fall on their lap.
Also with Layby, we have been teaching it to the kids. If they want something worth say worth $100, they keep taking their pocket money to the store to layby it, and it makes them realise that to get that stuff, they have to earn it and as it is expensive, little waiting time and more work is required, it doesn't just fall on their lap.