do you believe in giving your children pocket money ?

January 7, 2007 5:54pm CST
hi all do you give your children pocket money? do they have to work for the money they are given from you, or do they get it as a reward of good behaviour or do they just get it every week from you for free without having to earn it? or would you make your child get a little job such as paper round to earn the money themselves? i personally will give my children pocket money when they are older as they are only 6 at the moment abit young at the moment lol. but when i do i think they will have to earn it doing a few simple little things to help out which should help them grow up a bit better appreciating money. what do you think?
8 people like this
85 responses
@lilaclady (28270)
• Australia
7 Jan 07
I think it is good for children to be given pocket money, it teaches them the value of money, but I don't believe children should be able to spend that on what they wish, I know a family who gives pocket money but they have to buy their socks and jocks so to speak. It should be fun money.
@eseomame (1146)
• United States
8 Jan 07
You are absolutely right... they should be given the cash, but should be given limits as well, instead of spending the money on irrelevant things and at the end of the day, fall back on the parents, even for the most basic things.
• Romania
8 Jan 07
i should give them
@crystalc (289)
• United States
8 Jan 07
I think when my son is older I will give him chores to do and pay him a weekly allowance, and if he wants to earn extra money I can give extra duties around the house.
@crystalc (289)
• United States
8 Jan 07
I think I will also rewrd him for good grades.
@mbs730 (2155)
• Canada
8 Jan 07
I think it's a good idea for chores. Then they can learn to save up and buy something they like. It's a start on teaching them good financial habits.
@DBryan (16)
• United States
8 Jan 07
I have 2 children and I give them allowance for chores. And for good grades on report cards. I feel like it teaches them that they have to work for what they want and not everything comes for free
@chertsy (3817)
• United States
9 Jan 07
I only give my kids the change left over from after breaking bills. So they can put it in there piggy banks. So when we go to places that sells things like toys, books, and of course candy. They can buy it themselves. I want them to know you can't get nothing for free, and money doesn't grow on trees. They learn the value of money that way. Plus they like buying things with there own money.
• United States
8 Jan 07
I plan to give my daughter money occasionally when shes older.And will just have her help out with things around the house just so she isnt just expecting money for nothing and it will teach her to appreciate the money alot more. I received money when I was younger and yes they could go get some type of small job but to me its worth it just for little help around the house occasionally.
• Canada
8 Jan 07
Actualy when i was a kid, I used to be payed weekly to clean the whole house. I was paid 10$... Well it's a good idea because then you don't have to buy your kids the stuff they have to save up for them. While then it gives them an instinct of how much money is really worth(value of a $).
@gary87 (129)
• India
8 Jan 07
yes of coyrse they should be given pocket money. children have their own needs and they can't keep asking for money all the while.so its correct
• United States
8 Jan 07
i think it is important to give children pocket money because they will be taught about saving and techniques for the future. but with that being said they should have spending limits.
• India
8 Jan 07
it is important as it teaches them the value of money and that they won get the habit of stealing
@Marie2473 (8523)
• Sweden
8 Jan 07
I do not have kids bfut i belive that pocketmoney is a good way to learn them responsibility.- I think a good way for them would be to have some chores that they need to do, if they are going to recive the money every week. like make their bed, take the dishes, clean their room and so on!
@yoleis27 (557)
• Israel
8 Jan 07
Yes I think it's making the children learn about saving your money. ALso if you don't want to buy something very expensive you can allways say the children to wait for his birthday or to save his money until he will have enought.. You shouldent give them 100$ a week. but 1$-5$ here and there are fine enought.
@umair2hot (1221)
• India
8 Jan 07
I don't have children yet, but when I do, I'm pretty sure they will receive some sort of allowance. Nothing huge though; when I was about 7 I got an allowance of $5 each week. It never increased, but I did save quite a bit of it up, and stopped getting it when I was a sophomore or so in high school. This wasn't something that I earned by doing chores, but my parents still assigned chores tome, just with out them and my allowance being linked. I think it's a good way to help children learn a bit about money management, and even if they don't learn something while they're still receiving it, they may look back later and realize that they would benefit more if they saved at least some.........!!!!!!!!!!!
@pramod05 (26)
• India
8 Jan 07
When, whether, how and what to give for pocket money is an issue that often concerns parents.There is not just one way to handle this.To a large extent it depends on family values, family practices and family finances, but there are some general points that you might like to consider in making your decision.The main reason for giving pocket money is to help children learn to manage money while they are still young and you can still guide them.Pocket money can help children feel that they are important members of the family because they are given part of the family’s spending money.It helps children to make choices and to see that sometimes people have to wait and save up to get what they really want.It can be a problem if there is not much money to spare in the family, but even a very small amount can give a child the feeling of some independence.In some families children are just given what they ask for and pocket money is not considered. If this works well for your family there is no need to give pocket money. However, some parents feel their children haven’t really learnt about money and how to manage it with this method.The age at which you start giving pocket money depends on your child and you. However check what their friends’ parents are doing so they don’t feel too different.Some parents put part of children’s pocket money in a bank account for them. Check that the bank does not charge any fees on this amount if you do this. Some parents give pocket money and ask the child to bank a portion regularly.
@BDnLacy (324)
• United States
8 Jan 07
No I do not "give" my children money. If my children wants extra money he/she knows they will have to earn it. I believe this is a great lesson in life that you have to earn what you have. I belief is, children that are just given everything they want is in for a hard time in adult hood. Our children stat earning their allownace at the age of 6. At 6 they are required to do well in school, and as they get older they have more mature responsablities to earn their allowance.
@roadromeo (376)
• India
8 Jan 07
well everybody in this world need money when they actually try to think about something and want it. I feel that children should be given pocket money because that obviously have wishes like we have. but then the amount given should be in limit and also the frequency in which money is given to the child. and after a particular age, say after 18 years or 15 years they should be left on their own to earn, save and spend from their own pockets as they become enough mature then....
• Philippines
8 Jan 07
i think theres nothing bad in giving them pocket money. at least at a very young agae they will learn the value of money
• United States
8 Jan 07
my opinion is that it is not a good idea to give pocket money to children without making them to do some good work cos if they dont do any work and get money they will not understand the value of money and thats very important for them to understand. one more argument that could be said aginst me is that they will be learning to manage money at an early stage in their life.
• India
8 Jan 07
yes i truly believe in giving pocket money to children bcoz if they dont have any thing or they just come and ask their parents frequently its like a hell to the parents insted of experiencing hell better to give pocket money tothe childrens
• United States
8 Jan 07
I reward my kids three ways. 1. Through the week they get fifty cents a day for behaving at school, doing class work, and homework. 2. They get another fifty cents a day for working at home, keeping their room clean, putting dirty clothes where they go, and solving their differences through positive communication. 3. On the weekend we give them there $5 or less that they've earned and allow them to spend it somewhere or save it. It works for us.
@kakuemmom (862)
• Canada
8 Jan 07
My kids have to earn thier pocket money i will not give it to them if they don't earn it. They earn by keeping thier rooms clean, they each have chores in the house that must be done. I also deducted if the job is not done right or if i have had to tell them more than once that the job needs done. They are old enough to just do it when it needs done (16,13) my younges who is only 4 cleans up all her toys and helps make her bed. now she only gets a small reward not money usually a bag of skittles or maybe a chocolate bar and she is sooooooooo happy with that. My oldest also watches emma on weds and thursday nights for 3 hours as i have scouts on wed and go to school thursday nights. She gets time on her cell phone for this. I think if kids see that money is not free so to speak but you have to earn it it teaches them the value of it and makes them appreaciate it more.