How much pocket money would you give your 8 year old?

@syain1972 (1011)
Singapore
April 10, 2007 4:20am CST
Do you give you child pocket money daily? How much would that be? What would he/she normally do with it?
5 responses
• United States
10 Apr 07
i dont just give my kids money they have to earn it. kids now days just get money handed to them so they have no value of it most times. at the age of 2 we started this with the kids. at the end of the day we would look and see if the bedroom was picked up of toys if so that was a .25 if they picked up there clothes from the bathroom floor and there towel that was a .25 and then if we gave them extra and it was done it was a .25. now that they are older we do it alittle different but we sat them down and talked with them about it. every year on new years we sit down and make a new deal on how things are to be done so that it goes with tehre age. today they are 9 and 12 and this is how we do it. one has kitchen for a week the other has laundry for the week. if they do there chores like they should they get 1.00 a day if they dont do them that day they owe us a 1.00 for us having to do them. at the end of the week if there room is clean on sunday they get 2.00 each if not they get nothing that is there space if they want it clean great they can get money if not they can live in it and get no bonus. the bathroom they clean no matter what it is there bathroom but also the guest bathroom they do not get paid for it and it had beeter be done daily if it is not done then they lose a privlegde. i clean the rest of the house. if we have something extra for them to do we will ask do you want to make extra they usally scream yes and we then give them extra like cleaning the yard so forth. now so they dont just have money in there pocket we opened them a checking account on monday we go to the bank and whatever they have that they have not spent goes into the account. on the 1st of every month whatever is in that account i add .25 to the dollar. that way it shows them to save. if one borrows money from the other there is interrest charges that will be paid as well. lol. they make sure they save lol. my kids have a good feel on money and they know it takes work to recieve it.
1 person likes this
@syain1972 (1011)
• Singapore
11 Apr 07
Wow, I think you've a good system going on there! Not only will they save their money, they are being disciplined too.. I like the idea of making the children do housework and get paid for it. It'll teach them that money doesn't come easy.. Well, done!!
1 person likes this
• United States
11 Apr 07
lol yea it get my house clean and extra stuff done that i dont want to do. they love to save there money too. its funny we go shopping and they debate on prices and wonder if we go here can i get it cheaper. they even look at sales. right now they are saving for fathers day so they can get there dad the part he needs to fix his boat motor. they are putting there money together to do it. it is 200.00 to get it. i havent told them but i will pay half if tehy both get 50.00 just because the thought of it.
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@syain1972 (1011)
• Singapore
11 Apr 07
Aren't you a nice Mom?!! Yup, it's the thought that count.. Bravo to that!! :
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@jmp824 (741)
• Philippines
11 Apr 07
I have a son who is 7 years old and hes in the first grade. I gave him Php20.00 as a pocket. I packed him with morning snacks and lunch. Sometimes hes going to buy food after school with his 20pesos. But a lot of times he doesn't used it. :)
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@syain1972 (1011)
• Singapore
12 Apr 07
Thanks for your response. That's good if he's not using it. I hope he too is saving it up... Take care. :
• Netherlands
10 Apr 07
My daughter is 4 years old and I'm not yet really give pocket money to her, it's just to learn her value and saving money. I give once a week about euro 50 cent and she gave her pocket money for charity in school otherwise she'll put it in her piggy bank but she also often refuses to have a pocket money. She said when she need something I'll just ask mom/dad....tsk...tsk... She's kinda wise with her money, though. One of my friend that has a 8 years old son gave 2 euro per week for pocket money. He has to save it in his piggy bank and once in every two months he'll make his piggy bank empty and go save it to his own bank account that makes him proud.
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@syain1972 (1011)
• Singapore
11 Apr 07
Oh, she's so wise and charitable too! Thanks for your response. It looks like I'm not the only parents around to ask their child to save their pocket money in their piggy bank....
• India
10 Apr 07
our kid is 10 year old and i see that she has 20 bucks spare with her always in case of emergency at school. apart from that sometimes shes lazy and when she has to rush for school bus i give 10 bucks for lunch. she normally has the sandwiches or the burgers in the school cafetaria with her other friends. sometimes she said she had a burger and an ice-cream.
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@syain1972 (1011)
• Singapore
11 Apr 07
Thanks for your response. Hmmm.... 10 bucks and 20 bucks for spare...
• India
10 Apr 07
There is no limit of pocket money. It depends on you parents how much you want to give to your child. Your child will always ask for more money. If you give more money, there is every possibility of misusing it in wrong did. First you ask the need of a child then decide which need is to be taken care and which one not. Try to understand the child about the merits and demerits and cut down the expenses. Give only fair money which is really needed. In this way your child will not be extravagant. Do not give pocket money as per your income, this should be based on actual expenses needed outside the home.
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@syain1972 (1011)
• Singapore
11 Apr 07
Thanks for your advise. There is a point there!!