Pocket money is different for every family from when we give it, to why we give it , how much and whether our kids work for it, It is dfascinating to see and iunderstand other families pock money practices. We are begginnig a new series of pocket money profiles to gain some useful insights, do let me know if you would like to be profiled simply email me at Becky@18.104.22.168/~familyb5
Our first family profile is the family from the Anamumdiary blog. Here what mum Amanda has to say :
Do you give your child/ren pocket money :
Yes for my eldest, but no not yet for my 3 year old.
If the answer is yes ……………………
When did you start? Did you and your partner agree on this?
At 8 yrs old, yes we both thought this was an important part of learning about money.
How much do you give?
£2.00 per week
Why do you give it?
To teach the value of money, and to give Miss N responsibility for some chores in the house.
We decided that rather than Miss N asking for small items at the weekend, she should have a little money herself to use. To earn this money she has small jobs to do each day.
Miss N makes her bed in the morning, and she lays the table for the evening meals, and puts glasses and water/juice on the table too.
What do your children spend it on?
Occasional magazines and treats, but the majority of the time she saves up her money to buy a larger value item. She saved last year for a micro scooter. This year she is saving for her first pair of Doc Martins, a very proud Mum moment.
Do they save any ?
If there isn’t anything she wants to buy, then it goes in her own bank account. Also if she receives any money for her birthday etc then it goes into her account.
Did you get pocket money?
Thank you so much Amanda!!