uk+kiwi

Hi, all

Spinning off from another thread, I'm interested to hear what people (or friends/rellies) do in their families and why, with regards to pocket money and paying children to do chores around the house. Or what experiences you yourself had growing up of the financial nature and how it may have affected what you do with your own children.

I'll start. We have two children aged 7 and 5. I'm fairly interested in all things monetary and am determined to teach my children some financial skills primarily along the 'live within your means' line.

But the reality at the moment is that whilst we have started giving the girls pocket money, this has so far been to allow them some freedom in spending money on things they would like, to avoid them pestering us for things like magazines etc. Also to encourage them to save for holidays and toys they would really like. With some occasional saving.

We don't ask for anything in return for this, I think because I expect them to help around the house anyway since I believe we all have a part to play in the chores around the home. Their 'only' official chores are to make their beds, keep their rooms reasonably tidy and to put away any toys they have played with on a daily basis. That seems to be hard enough sometimes!

I am toying with the idea of introducing chores for cash and maybe imposing restrictions, such as saving a certain amount. Any ideas?

Really interested to hear what others do, deliberately don't do etc.

littleal

Hello - I give performance related pocket money to my 9 year old. She gets a basic £2.50 to teach her about money management, but she can earn up to £3.50 if she is helpful without me having to nag. e.g. If she is really helpful in looking after her sister or tidying up without me reminding her, she may get £3.00. (Usually, she gets £2.50 because she is lazy :curse I get suspicious if she is particularly helpful on a Friday before pocket money on a Saturday so she doesn't try that one.

Alison

garryhg

hi jacky g here
we've only been over here a week,but when we were back in scotland our daughter 13 used to get 10 pound a week,but she had to do chores for this,there was certain things she would have to do nothing major,just keeping room clean,clearing dishes after tea,puting her dirty washing in laundry,just general things like that.there was a price written up for each item,anything shre didnt do then the amount was deducted of her allowance.she chanced it a couple of times ,but once she saw her pocket money going down she soon got back on track,never did her any harm.what were doing here is opening up a bank account,giving her a monthly allowance,and letting her use it.it will probably take her a couple of months to get used to budgeting her money out,but she will learn hopefully.its amazing how they dont want to buy things when its thiere own money there spending though.i think you've got the right idea,it does give them a sense of value gl

Scottish Family

Hi there!

We give our 8 and 7 year old boys three pounds a week. They don't have to do anything other than try to keep their rooms tidy and put their clothes in the wash, for that.

However, when its grass cutting time they can earn extra pennies if they help their dad gather up the twig cuttings / weeds / grass etc. about 50p to 1.00 pound extra depending on how much work is involved. They are surprisingly keen to help out and are very proud to have 'earned' their extra money.

Of course we do still end up buying them the odd magazine and trips to the cinema etc. They each have a savings tin and they usually save 50p or so of their usual pocket money and all of their 'earned' money. They made that choice themselves.

They are both delighted when they count it out after some weeks to discover they have saved 20.00 pounds or more and can buy a particular toy they wanted.

When I was a child I never had to do any chores for money, they were just expected of me.

RedMonsk

Hi

I have a 7 year old boy and a 4 year old girl and I am forever trying new things to encourage better behaviour!

At the moment I have a chart (which I made myself, Blue Peter style!!!). There is a large sun and five clouds for each of them. Everytime one of them is particularly rude, continually ignores requests for them to do something, won't go to sleep when they are told to, etc, etc, etc, they are moved down a cloud.

If they have not worked their way back up to the cloud by the weekend, they do not get a 'reward'! I usually state a maximum of £5 to be spent.

They also earn extra money/presents with good school reports, headteachers certificate - that kind of thing!

My son bought a Nintendo DS game yesterday with the £20 that he had accumulated with good behaviour and schoolwork. When we were in the shop I told him that he owed me £2.73 (Asda prices!) from his money box when we got home.

Well!!! I thought my daughter had kicked him in the goolies! He came down the stairs in floods of tears, clutching his crotch!! Turns out he was clutching his money there and was heartbroken about having to give me his money!

I am trying to get through to him that you either have to earn or pay for anything in life!


Don't think its sunk in though!!!

RedMonsk

Sorry, rambled a bit in the previous message but I meant to say that I think a visual aid helps with children of that kind of age!

garryhg

hi scottish family
i would have to agree with you when i was young we never even got pocket money and didnt expect it either,my family and probably many others just didnt have the money.we live in a different world today.magazines for the kids start at about 2.50.the jacky summer special never even cost that way back then.kids just expect things now adays(mine included) but i guess we've only got ourselves to blame for that.what i've found is over here there isn't as many shops for kids to spend thier money on.theres a distinct lack of shops here.teenagers shops (clothes etc)might struggle when it comes to crimbo. anybody know any good clothses shops in auckland let me no please .......jacky g

uk+kiwi

Great replies so far everyone. Thanks for taking the time. There are some very generous mummies and daddies out there aren't there?

Agree, shopping in Akl (/NZ) is pretty poor. Sorry can't help with specifics although someone will be able to. However with High School Proms being US style throughout NZ, I would expect all those teenagers are finding some groovy stuff from somewhere - weekend trip to Aus?!

poppets

well i must be so tight that i squeak..... we have a chores list for the kids (6 & 4), just general stuff they are expected to do & they have to tidy bedrooms & playroom. & what do they get for this..........zilch nadda nothing, & the best bit is they get quite competetive about the chores & want to do more. they will only earn pocket money when they raise the question of money but at the mo we have none to spare so they are well out of luck .......& i'm not having them spend it on sweets.....they only get them once a week too.
once i go to work then everyone in the house will be expected to do a share of all chores......i will not be lumbered will all chores & work too.

P2L

We have 3 little darlings who are 12, 8 and 3.

The 12 year old gets $80 a month of which she has to save half. For that $50 she has to keep her room tidy (inc. hoovering & polishing it) wash up, put the washing on/off the line and help with the ironing.

Our 8 year old gets $50 a month and again has to save half. She also has to keep her room tidy, put stuff away, wash up & lay the table.......

The 3 year old gets $20 a month that we save for him. he actually asks to help do chores and lays the table better than the 8 year old

I know that may seem generous to some people but TBH if either of my girls get FULL pocket money more than once a year it's a miracle!

I deduct 10% at a time if they get reminded more than once to do something, and also if they leave lights on or the fan heater in the bathroom! ( the cost of electricity here, they WILL learn where the switch is!)

dlmckay

I have 8yo and 6yo boys and a 4yo girl.

Both boys are expected to empty the dishwasher - the eldest doing the bottom rack (mostly heavy plates and saucepans) and the younger doing the top rack (mostly cups and bowls).

All three are expected to make their bed every morning and if they forget to give me their cold hot water bottle in the morning, they don't get a hot one that evening - only had to do that once!

As we have a rumpus room, we're a little more relaxed in tidying toys, but once the carpet disappears, then all the children are expected to tidy it up.

They get no pocket money for this. We tell them that we get no money for doing laundry, cooking meals and cleaning the house, but that we all live there, and therefore, we all muck in and help.

Wiz'n'Ton

As a kid, from about age 5 I received 50p a week and then from 8 that went to a pound a week. It was the time of the NatWest piggies and I saved like crazy for nearly 2 years and got the full set.

Then I could help dad in the garden, or washing cars/ chopping wood (I'd do the bow saw, he'd use the axe) for a little extra moolah. At 12 I started helping my sister do a freepaper round, and got a cut of the proceeds, and at 13 I took on one myself as an extra. By then I was on 10 quid a week and thought I was rich. Saved some of it, and spent the rest on toys, CD's, fishing stuff, trips to the coast etc.

By the time I was 16, I was still doing the paper round (easy money) as well as a car-wash round. At some point - 14 or 15 I think, mum and dad 'gave' me the child benefit mum would get for me, and that came to 100 quid a month. I'd have that to buy all non-school clothes, do stuff I wanted to do, and once it was gone it was gone. Certainly taught me how to plan ahead if I wanted to get something in particular.

My parents certainly did a good job of instilling value to me from a young age.

I'm not so good with money now though, but that's cos I like doing stuff rather than saving. At 30 though, that is something I need to urgently reconsider....

phil01

Hi there....mini me gets $5.00 a week and for that she does a few chores...allegedly! As in washes the dishes, feeds the dog, tidies her room and she banks it! We opened her an account with Westpac you get a pass book, money box, savings chart etc... and she likes being able to put her money in the bank and watch her savings mount...then she just taps us up when she wants to buy something so her bank balance doesn't go down!

danny.f

Honestly? We're so skint the children are giving us pocket money-no joke!

RedMonsk

Right, I'm going to have to think of something else!

Not long after my son went to bed, he got up again to say that he didn't want the trainers I had bought him, he wanted a pair of Umbro ones! ............. to say we were furious was an understatement! :curse: As some of you probably remember, Clarks own brand trainers are cheap - these were £28.00 (with a bloody car in the heel!!).

There started a long lecture from hubby about how everything costs something, son tried to get cheeky by saying walking didn't cost anything - hubby then reminded him of £28 spent on said pair of trainers!

I have decided that I give them too much and I will reduce the money they get for 'reaching the sun' and they will have to earn anything extra. Have to say my daughter is always keen to help me tidy, or dust or cook - but son is a lazy little sod!

As mentioned in previous posts - there are many of us that got sod all as children. I didn't leave home until I was 20, had a full-time job but was still expected to do all the housework, ALL the bloody ironing and cook and look after my brothers who are 6 and 10 years younger than me. Obviously, I think my mum took it to the other extreme!