Pocket money. It’s s strange one.
Sort of like salaries but for very little people who don’t really work and don’t have any bills to pay. Some of my friends believe pocket money should be earned – chores around the house, making the bed, taking out the bins etc. Each chore or group of chores earns the child his/her pocket money.
Others are appalled at this idea, believing that children should help around the house without expecting “payment” in return.
And that is just the start.
There are the children who believe they deserve hundreds of dollars just to “appear” as your child, there are the parents who pay their kids to keep them quiet or to appease their guilt and there are children who pull their teeth out just to get some money from the tooth fairy.
And if and when you decide that you do give pocket money? How much? What do your kids do with their money? Should they be able to spend freely or should you monitor what they are buying.
Tessa* writes:
My son has recently turned six and I have noticed that some of my friends have been starting to give their children pocket money at about this age.
I’ve got mixed feelings about this for a few reasons.
Firstly he doesn’t want for anything so is it really needed? Also how much do you give, and what jobs should be required in return for said money.
Should I put it in a bank account for him, or give it to him in cash? Should I regulate what he spends it on, or let go and risk icy poles from the tuckshop every other day?
A system we used to have (which has somehow fallen by the wayside) which I read about somewhere was 3 jars. One for ‘save‘, one for ‘spend’ and one for ‘share’.
So your child is introduced to the idea early of dividing money into spending, saving and donating to charity to help others.
What’s your attitude to pocket money? How much do you give your kids and how old do they have to be? Do they have to do anything for it? How much did you get as a kid?
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Top Comments
i am 13 and i do hours and hours of work and get paid a mere 2 dollars a week but my parents are split so i only live with him every second week and my mum does not give us pocket money. one time just before my dads birthday and i had been saving up all year for my dads birthday present. well one day i accidentally dropped the milk and about half of it tipped out so my dad started shouting at me and saying that i had to go to iga and buy more milk with my pocket money so i told him that i had already spent it. he then went all bezerk shouting that i have to be more careful with my money. i just felt like racing to my room and ditching his present in his face. ps. he is not poor, he leaves his bank letters out on the table and he earns a heck of a lot more than the average person and his mortgage is 100% payed off.
hi it's really nice that you spent your pocket money to buy your dad a present. very selfless.
My nine year old son has just started earning pocket money. He puts the bins out and brings them in weekly. He clears and cleans the table and helps with the dishes after dinner and he tidies up after himself and he feeds the rabbits daily. For this he earns $10. If he doesnt argue with or be mean to his sister for the week then he can earn himself a $5 bonus. He must save 1/2 of everything he earns and he has quickly worked out that the more he earns the more he can have to spend. His main spending is on leggo. I do think that he should be doing things around the house simply as a contribution to the household, however, its not worth the fights. He is very keen to earn money and is happy (mostly) to work for that money. I think this is a good compromise. Also he has never questioned the idea of saving 1/2 of what he earns (or indeed gets as a birthday or christmas present) since we have done this right from the word go.