Where do you stand on pocket money?
Pocket money is an ongoing issue in most households – how much, how often and how many times do they have to unload the dishwasher to get it?
Yep, it can be a weekly battle.
Mamamia TV spoke to Mia Freedman, Mamamia senior editor Bern Morley, radio host Brigitte Duclos, fashion editor Penny McCarthy and actor and author Andrew Daddo about the contested ground rules.
Let’s just say… There was no amicable consensus.
What do you think? Should there be weekly flat rate or should there be cash incentives for good behaviour and grades?
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Disclaimer
These Money Matters videos are intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any viewer and must not be relied upon as financial product or taxation advice. You should consider seeking independent financial advice before making any decision based on this information. Commonwealth Bank of Australia ABN 48 123 123 124.
Top Comments
We have a set routine for just about everything, but when it comes to pocket money it's random and as the need arises. By need - our daughter's need to save for something small.
As I teen I got $200 a fortnight but I was also responsible for monthly payments for my braces and had to save up for uni. In 3 years I had paid the $4000 off my braces and had a nice bit of savings to start uni. We never got pocket money as young kids, just $1 or $2 from the tooth fairy. Mum taught us from a young age (6 or 7) how to budget for grocery shopping, simple things like asking us to pick the best deal on a can of peaches for our family of 7. We all learnt quickly how to find the best deal and shop in bulk. It was win win, we learnt a valuable lesson on money and mum had a lot of little helpers to get the shopping done quicker. All of us know how to manage our money, none of us have huge credit card debt like a lot of people our age. Lessons I plan on teaching my kids if and when I have any.