What's The Going Rate For Pocket Money

[fenderbelly]

My nephew worked with a guy who sat down with his kids and they worked out how much each chore was worth.

if they did a chore they got an IOU for the agreed amount.
If they wanted to buy something for themselves he asked if they had enough IOUs , if the answer was yes they cashed them into him.

He reckoned that way they learned the value of money better and that you worked for what you wanted in life.

seemed to work OK.

When my lad was 14 he went to work with his mum for 2 hours a night after school for $20 a week.
Cheers Fred

[funkychicken]

What's The Going Rate For Pocket Money for 10 & 12 y.o's

Zip, if they want money they have to earn it

[astrid]

How much money you give your kids i suppose depends on how much work they do and what you expect them to buy with it.
If I asked the teenagers to pay for their own pimple cream, deodorant (they need lots) sanitary napkins or other items of personal use. Id have to pay a lot more, then they would spend it on something else and I would have to buy said products anyway

[Wongo]

My older one is only 7. When she gets to 9 or 10, I might give her $1 a day. Does it sound fair?

[astrid]

I think pocket money should be given as a reward for work, So they can buy their own fun things, not stuff you'd usually buy

[astrid]

Believe me there are some things kids buy with their pocket money you just would'nt think of.

blue tac, string, balloons, placticine, vaseline, lip gloss and tissues.
I'm not going to fork out for this stuff but they apparently need it.

[Jack E]

Pocket money You were lucky.

I got $5 a week to mow the lawns, it was an acre block too, although I did have a ride on

[Gra]

Pocket money You were lucky.

I got $5 a week to mow the lawns, it was an acre block too, although I did have a ride on

Ride on mower, thats not a job, thats fun.....

My daught started prep this year and gets $5 a week. She has to make her bed, have her breakfast before 8:00, feed the dog and some other stuff. It teaches her she has to do jobs to get money (work) and it teaches her the value of money (I want that,
well that will take x weeks pocket money to earn.
Oh.
is a regular discussion at the moment)

the younger (3Yo) on is on a bead reward system, if he does something we think deserves a reward he gets a bead, if he misbehaves he loses a bead. He can then trade the beads for rewards (Thomas trains, books, rides on puffing billy etc). agin they learn to save, a ride on puffing billy is about 150 beads, a thomas book is about 20 beads. The way we have set it up he can get a thomas book a week if be behaves himself. Behaving himself will include putting his dishes in the sink, his dirty clothes in the dirty clothes basket, etc

[Vernonv]

the younger (3Yo) on is on a bead reward system,

Best be careful, those beads could be a choking hazard. But I guess if he knows what they are "worth" he ain't going to eat them.

[astrid]

Gra, you give your kids beads for pocket money?
What you trying to do, buy their bedrooms.

[Gra]

Best be careful, those beads could be a choking hazard. But I guess if he knows what they are "worth" he ain't going to eat them.

They get placed in a jar, we have two jars, a "bank" and his jar. When he earns a bead it gets transfered from the bank to his, and it also works the other way. He only handles them to count them and then only under close supervision

[Gra]

Gra, you give your kids beads for pocket money?
What you trying to do, buy their bedrooms.

nah, just creating hippies

[Vernonv]

They get placed in a jar, we have two jars, a "bank" and his jar. When he earns a bead it gets transfered from the bank to his, and it also works the other way. He only handles them to count them and then only under close supervision

Sounds like a good idea.

[astrid]

a thomas book is about 20 beads. The way we have set it up he can get a thomas book a week if be behaves himself. Behaving himself will include putting his dishes in the sink, his dirty clothes in the dirty clothes basket, etc

How many dirty socks in the basket get a bead?
you'll be in trouble when he figures it out

[Gra]

Sounds like a good idea.

It has worked for us, the threat of losing a bead is a real incentive for the kids to pull into line. the eldest has just gone from beads to actual money and the losing of pocket money works the same as for beads.

We decreed that starting school was the time to do the switch, but that was just an arbitrary decision we made based on the fact the other kids were probably getting pocket money.