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View Full Version : Kid's pocket money - a straw poll


everynowandthen
16th Sep 2008, 13:57
My 2 boys, of 15 & 16, live in Cambridge & are given, in my opinion, the handsome sum of GBP50 a month each. I reckon they don't know they're born, lucky bleeders etc etc.
Mutiny in the ranks, they're asking for more!!
Am I a tight-fisted oldish git? What do you lot give your beloved kids?

G-CPTN
16th Sep 2008, 14:11
It depends entirely on what they are expected to buy from their allowance.
It can be beneficial (IMO) if youngsters are given responsibility for some of the essential expenses of life as well as the ephemera so that they can decide how and where to allocate their resources and prioritise things.
Avoid Pocket Money Problem - Teen Issues (UK) (http://www.teenissues.co.uk/AvoidPocketMoneyProblems.html)

Pocket money rises 600% in 20 years (http://www.hbosplc.com/media/pressreleases/articles/halifax/2007-07-21-Pocketmone.asp?section=halifax)

Halifax pocket money survey 2008 :: IFA BONUS :: The Ultimate Source of Information for ALL types of Financial Adviser (http://www.ifabonus.co.uk/index.php?module=News&func=display&sid=3085)

rhythm method
16th Sep 2008, 14:25
50 per month? :eek: :eek: :eek: :eek:

How tight are you???? Do you not know the price of crack cocaine these days?:}



(By the way.. I think that is waaaayyyy too much for a teenager myself)

bar fly
16th Sep 2008, 14:38
I had a job at 16 and was getting 200 plus per month. Introduced me to work and what money is worth in terms of hours.

Get your oldest lad onto some of that and then when the youngster sees how loaded his big bro is, he'll be all over it next year.

Same thing happened to me with my big bro. :ok:

One9iner
16th Sep 2008, 14:50
I agree with bar fly ...

Between 13-15 I was earning 20 a week on my paper round.. at the age of 16 I was earning 240 a month through my saturday / one school night shift a week job and at 17 I was earning over 320 a month through 2 part time jobs... At the same time working hard at a Grammar School where I managed good results at GCSE & A'level to take me to one of the best Uni's. . . so all that time grafting didn't have a negative impact on my education.

The only pocket money I ever received was 10 a month from the grandparents which went straight into savings which I had no access to until I was 18.. - it also stopped on my 16th birthday..

I'll possibly be a parent within the next 5 years... I'll make them do the same.
Tell them to get a job!:ok:

everynowandthen
16th Sep 2008, 16:02
Folks, all good, sound advice & greatly appreciated. Live in France so am not too clued up. Thanks again.

Forkandles
16th Sep 2008, 16:13
Live in France so am not too clued up.

Don't worry, it's not just you... :E

Curious Pax
16th Sep 2008, 17:00
My 8 year old gets 2.50 a week. Feels like too much, but that's probably because my tightfisted parents only gave me 8p at that age!!

everynowandthen
16th Sep 2008, 17:01
They're all thieving [email protected] Will probably give me some confusing spreadsheet explaining why they just have to have more money. But as am armed with the wisdom of fellow prunesters, they'll not get another penny from my moth-collecting pouch. Out to work with them.

ChrisVJ
16th Sep 2008, 18:49
We never did give our kids formal pocket money, our philosophy was "if you need it we'll get it for you, if you want it go and earn it for yourself."

From number 2 on they have all had jobs North American style, Lifeguard, Paintball field help, (grew out of work for games!) busser, waiter, market check out, toy shop asst manager.

Numbers 5 and 6, who still live at home, both have jobs. 5 or 6 shifts a week for Summer and one or two a week during term time.

Works for me.

G-CPTN
16th Sep 2008, 19:12
We never did give our kids formal pocket money, our philosophy was "if you need it we'll get it for you, if you want it go and earn it for yourself."Doesn't that encourage them to steal?

Will probably give me some confusing spreadsheet explaining why they just have to have more money.I did almost that when working for a very respected manager in the anticipation of a rise in the face of increasing bills at home etc etc and stressing how well I'd done etc etc.
He listened patiently then said that he agreed that I was an excellent worker and that was why he had sought me out to work for him, however all his staff were excellent workers . . .

Tim_CPL
16th Sep 2008, 19:31
I had a colleague who has 5 kids (yep and now he had the snip once he worked out the connection). With that many sprogs he had a rule, which was a $ per week per year of the kids ago. So that would be about 50p per kid per year in the UK.

ChrisVJ
16th Sep 2008, 23:19
G CPTN

Doesn't seem to have, thank goodness. In fact they are pretty good and always return all the change to their mother unasked after getting stuff for us. Course, they would hear about it if they did not.

No 1 needed just a little help but numbers 2 to 4 had enough to buy their own cars when they passed their driving tests.

BlooMoo
17th Sep 2008, 01:14
I'll possibly be a parent within the next 5 years... I'll make them do the same.
Tell them to get a job!

If, in ten years time, and you are a parent, and you can re-read the above without a smile or a tear then I will doff my cap...

Richo77
17th Sep 2008, 01:35
Funnily enough i had this discussion with my son only last night who is rapidly approaching 5.

He recently went out with his grandparents on a shopping trip (they are the king and queen of all shopping - him food her everything else). Richo Jr spied a toy he wanted, his Pa said he would only pay $10 and the toy was $16, but Jr had some money on him he had been given weeks ago from his maternal grandmother, he was happy to spend it and i think he learnt a good lesson.

Last night i explained that once he is 5 and will have started school, that he gets pocket money as long as he does his jobs (or chores) around the house, nothing too strenuous cleaning up his toys, feeding the animals, bit of help with his little sister etc etc.

I further explained that the money will be his to do with as he wishes, but he must spend it wisely, his mum and i have the right to veto anything we think inappropriate but if he spends it and then sees something better next week, he will have to save up.

I think it went down well.

The Mrs was out (her night out) but when she returned home i explained and she was happy with the arrangement. I had not mentioned a weekly figure to JR but she suggested dollar for age. Whilst not a bad idea, i had already figured on AUD$10 a week.

She thought this a bit high, but i dont think its too much. You can't get much for $10 these days, and its only 2 less beers for me (which wont hurt) on my weekly night out.

Thats what we are going to start with.

sisemen
17th Sep 2008, 02:24
Pocket Money????!!!! Send the little feckers to clean chimneys if they want money - that way they'll be too knackered to go to the disco and spend dad's dosh on ecstasy tablets.

Standard Noise
17th Sep 2008, 02:54
50 sovs a month seems reasonable. Noisy jnr was getting 10 sovs a week until a year ago. Then he realised that he'd have to get a job and ended up making 400-450 a month flogging mobile phones to idiots (including me, and I'm stuck on this feckin tariff for another 12 months!). We found that although he always got pocket money and then managed to get the odd quid here and there from us as well, when he got to 16, we became more strict on the 'odd quid' nonsense and he went out and found a job.

Loose rivets
17th Sep 2008, 04:30
Blooooooody hell!!! Can I come and be your kid...take it in turns. I'll'v never been so well orf.

When we were going out on our bikes one day, mate's (later airline pilot for 45 years) mother comes out and says. "Have you got a clean hankie, and take this half-a-crown just in case."

"No thanks says he."

We all inflict pain on our crutches with our crossbars so as not to blurt out. "Take the money!!! Take the Fekkin half a crown.!!!!!!!!!!!!!!!!!!"

He didn't. He could have shared it around. Ten Wall's ice-creams that was in those days. So when we got out into the countryside, we beat him up.:ouch:

flower
17th Sep 2008, 10:01
I'm a great believer in both pocket money and children earning ther own money. It teaches children the value of goods whereas if you buy everything for them how can they understand the cost of anything?
We didn't get very much pocket money as children but it was still nevertheless our own money to choose how we spent it and when it was gone that was it.
Even as a very young child I would save a liitle money out of it as I liked to buy presents for my parents and grandparents, one Christmas when about 6 I remember buying a jar of Nivea cream and a small plastic pot holder for my grandparents for Christmas, when they found out it came out of my saving my pocket money it was even more precious to them :ok:

I had my first "job" from the age of 8 looking after the neighbours cats every weekend as they always went away, I didn't get paid with money but had a new "whimsie" every weekend which I absolutely loved. Then from the age of 14 I worked every weekend up until I left school.

everynowandthen
17th Sep 2008, 17:12
In all seriousness, I don't reckon 50 is too much. Was stunned when I took them to the (Virgin) Cinema ! Jesus wept, the price of a small box of popcorn would feed a small 3rd world country for a day. It's robbery, obscene. However, when it comes to a rise I think it's time for them to earn it for themselves.

larssnowpharter
17th Sep 2008, 17:25
Seious conversation with (now -ex) wife:

Me: 'We need to teach Tim the value of money'.

Her: 'Why?'

Me: 'So that he will understand the coonnection between money and work'.

Her: ' But I gave him the PIN code on my credit card'.

Me: 'Yer what?'

Best I skip the next 30 mins.

Over the following days I found Tim a job on a local farm. 50 hrs a week, aged 15. Total pay was about 5 squid.

He was dead proud of his first pay packet. Took us down the pub and bought the first round. Coke, pint and G&T.

He looked at the change in his hand, crestfallen.

Half a week's work gone in a few minutes.

Job done.

4mastacker
17th Sep 2008, 17:58
Now the kids have finished at uni, I've told them it's their turn to pay me pocket money.