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Old 27 Feb 19, 09:47 PM  
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parkgirl
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Pocket Money

How old does everyone recommend to start giving pocket money? I am thinking starting to give a regular sum, rather than just as and when. What’s the going rate for an 8 yr old?
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Old 28 Feb 19, 08:06 AM  
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Blue nose
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Mine don't get pocket money from us but my dad gives them a pound or two each week. I have a DS who's 12 and DD is 9.

At 8 I don't think they need any. What on earth would they spend it on. Also how can they earn it?

My kids get lots of clubs paid for so that's it and we're starting to introduce helping around the house more to earn it. Eldest is reluctant though.
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Old 28 Feb 19, 08:43 AM  
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Megandllsmum
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My youngest is 10, we don't give her pocket money either, at minute she doesn't need it either and would only spend it on sweets and cupboards had enough of those in, I do think though soon enough when she's going to shopping malls etc with friends we will have to give her spends so she can do her own thing. She has money in her school bag for a piece of fruit daily but let's that mount up do she either nips in bakery once every so often on walk home or it goes on her moneybox, in her moneybox we put any change we have under 20p that soon Mount's up and she isuly pays it into her bank, only thing she ever really would want is credit on her ipad and we put her an itunes card on there every so often anyway... Suppose that could be classed as her pocket money 💵💵
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Old 28 Feb 19, 08:56 AM  
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Floridatilly
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Mine don’t get pocket money due to the costs of their activities. They are busy every night with dance, rugby & boxing.
My nephew only does rugby which is only £5 per week so she gives him another £5 per week which he saves up for x box games or fifa points etc ( he is 15)
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Old 28 Feb 19, 08:59 AM  
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Megandllsmum
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Forgot about extra activities lol, yep we pay for quite a few of those too each week... thinking out loud... gymnastics, swimming, guides, youth club, all add up then she has just signed up for two paid after school clubs this term robotics and art and design... dare I add them all up lol
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Old 28 Feb 19, 09:05 AM  
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WhereIBelong
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Mine got pocket money on an ad-hoc basis when under 10 - they both tended to go out with friends the same number of times, an extra fiver when going to the cinema, or out in town to buy something "for themselves". From 10 we gave them £5 on a Monday - had to pay for any extras during the week - cookie at school, nail varnish, sweets - were what it seemed to go on, or it got saved for something bigger.

When they got their first proper bank account with a card we then started transferring £25 a month to the account for them to budget as wished - they save any birthday and Xmas money in there too..

I have one who has over £1000 in her account, and the other with about £3.50...
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Old 28 Feb 19, 09:56 AM  
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parkgirl
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She earns points on her Garmin for doing chores 150 points earns her a toy. She is saving for Disney but said yesterday how will she save if she doesn’t get money hence my question.

Made me think that when I was her age my Nan and grandad gave me 50p a week! Mind you I didn’t do any extra clubs etc.
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Old 28 Feb 19, 10:05 AM  
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My DD is 17 now and has never had pocket money. My mum and dad have given her £5 a week for years and she has had a small weekend job since august.

However, we pay for loads of things for her. Her phone contract is £45 a month (more than mine!), we go halves on her contact lenses, she has Netflix, Apple music. We used to pay £15 a week for her riding lessons but she has them free now as she works at the stables. We also buy all her clothes, toiletries and give her money for going out (although not so much now she has her own earnings). We also top up her college food account with £15 a week and she can choose to use that or take a packed lunch - they have a coffee shop so spends most of it on lattes! She doesn't go short with anything.
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Old 28 Feb 19, 10:16 AM  
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I think I started giving my two pocket money around the time they were 8-9 years old. They wanted to buy Christmas presents for me and their Dad ‘with their own money’ and I think it was about £5 per month. They are now 14 and 15 and both get £40 per month. DS’s tends to go on Xbox stuff plus the odd day out with his friends. DD’s would usually be spent completely every month on going out. DD now works so I pay her pocket money into her bank and it is savings for Florida. When we get back she’s going to save it for driving lessons as that will only be a year away.

As much as I was happy to give them pocket money so they could start to learn the value of money, it was only when DD started working that she learnt that lesson. She now considers every purchase.

DS still has no idea! I’m giving him extra jobs around the house at the moment so he can earn extra for Florida. I can’t wait until he gets a Saturday job too.
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Old 28 Feb 19, 10:26 AM  
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My kids are 9 and almost 11. For almost a couple of years now they have been "paid" for the work they do around the house. Each chore has a different value but the eldest earns on average £5.00 a week and the youngest £3.50. Chores include putting on a washload, putting clothes in the dryer, tidying their rooms, taking the recycling out, hoovering and mopping and making their own school lunches. They spend it on Pokemon cards and slime, so they are happy, and housework is split between four people, so we are happy.
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