Pocket Money

hi dear violetdreams . great things to know. my kids are grown up. so no more problem of this kind . but yes it is alarming these days with the kind of expenses the kids need to do. for one their school related expenses are too exorbitant to mention. well i will be watching this column rather curiously o know about the recent trends on this!!

My son has his own piggy bank where I just throw in my pennies, nickles and dimes and wow does that add up. I usually put change in there when my wallet starts getting too heavy. Occasionally I"ll put quarters in there as well. When the piggy bank gets near to full, we'll go buy some penny, dime and nickle roll papers, roll it all up and put it in his account. His allowance he gets is about $5.00 weekly that we give him for being good and keeping his room tidy, and this money he can use when we go shopping so he can buy something for himself. Have a good day.

My three youngest are 8, 6 and 2 and they all receive pocket money, but to receive their pocket money they all do chores. I started them all from young ages, mainly because I want them to learn as soon as possible the value of money. I pay them their pocket money every Monday and they put a small part of it aside to go into their bank accounts. They have proper bank accounts and they get really good interest on the money they have in there twice a year. The rest of the money that is left is theirs to spend as they wish, and what they usually do is spend a part of it on sweets and then save the rest for a toy or something they want. At the moment they are saving for a PS2 game.

I don' have kids yet but I remember getting pocket money from my parents when I was around 6 or 7. It wasn't a lot actually just enough to buy a candy every now and then. When I was in 1st Grade, they game me a daily allowance which became a weekly allowance once I hit High School. I think you can start giving kids money once they are in school and once they know how to count.

i really dont know this my child is still small only 2yrs old and hence i dont know but i think as they reach the age of taking pocket money they themselves will let us know. when they ask money and a particular amount of money we parents will automatically know the trend going on. so i need not woory now there is much time left to discuss. in my days when i use to get pocket money i use to spend a little and save a little and it depends on the children and their nature wheather they spend or save and we cant perfectly decide that.

i think it will be good to give them pocket money by the age when they already know or understand the value of money, not just on the time that they know how to buy:-) for me the best age would be when they are already in highschool when mostly kids have their opinions on what they really need for their personal things.

i don't have a kid yet... but i can still remember that the first time my parents give me pocket money is when i was 9 years old and my father gives me on a daily basis... i always get my pocket money when my father send me to school... so if i didn't go to school, i won't get pocket money... that motivates me to be hardworking... :-) and i learn how to save from there... whatever money i didn't use, i keep it... and when it accumulates, i use it to go shopping with my friends... take care and have a nice day...

Our children get pocket money at the end of the month and they normally choose something from the argos book. They each have up to £30 pounds to spend, they don't always spend that much. We have four children but one is out at work so doesn't need any pocket money. It is a hard question that you have asked as there is no right or wrong answer to it.

I am still unmarried but i ask for 25 cent when i was chinl to my grandfather and he gave me. We enjoy a lot with that money. I think these day demands going high for all and they ask lots pocket money

Well I am 17, and I get £60 a month from my parents, and £40 a month from a paper round that I do just for fun really. I also get about £20 a month from my grandparents. I get a further £300 a month from the internet, which is obviously my main source of income. Not that much at the moment, but I do hope to make things go a little faster. I don't think you should give children pocket money unless they really need it. For instance, my money goes on bus fares to college, and lunch at college, so I do really need that money. Before college, I used to get £10 a month and that was it, as it was all that I needed.

With the development of our modern society, people's living condition becomes much more comfortable. But along with the intense competition, parents have less and less time to consider children's need in all-rounds. One method to solve this contradiction is to give Children some pocket money.Pocket money is useful to Childeren. But whether kids are considerable enough to make correct use of these money. There are two viewpoints about this. Some people think that giving children pocket money will make them become luxurious. Others think that will not lead to such disadvantage. In my opinion, both of them are partially reasonable. Some people believe that giving children pocket money will definitely has my advantages. With pocket money, children can buy their daily necessities such as pencils, little toys and snacks they like. It will give children a certain freedom to select what they want, make them aware rules of the equivalent exchange. Others lean that it has many disadvantage. cos they are too young to how to spend the money wisely and approriately. They just spent all on, maybe buying a pair of shoes. All in all, we parents should advise how to use them moderately.

This is the amount of money given by parents to make kids feel that they are part of the family and to tell them to take care of their petty expenses. It can be given daily,monthly or an adhoc basis. By so doing it is even important for the parent to explain the child how important money is and how carefully they have to spend it and save it for the future. This brings about discipline in them.

When we were feeling richer the kids used to get poclet money now times are hard they have lost out, my older daughter does dog walking to earn money and my little one is pleased if he gets the odd penny!

When I was growing up, my parents always made us earn our pocket money. Every now and then if they knew we were going out to the movies or something of that nature they would give us a couple extra bucks. These days; however, a couple bucks doesn't seem to go very far. We did have a bank account when we were younger it was great. It helped teach us responsiblity. It always felt rewarding to put money into the bank account and receive a statement every month showing how much interest we had earned. It was also rewarding when we were older and actually had money that we earned ourselves and saved ourselves that we could spend.

I think it is good to make the kids save the money they get. One of the way is to start account in the bank or provide them piggy banks. I think kids should be thought to save money very early so that they can save money for the needs they have in the future. My parents used to cut the upper part of the powder tins and would asked to put the pocket money in it. I used to buy things I need using the pocket money when it become full.

When I was a kid I really didn't need money until I got to jr. high. (that rule did not apply to when we went on trips as stated in the first response... my parents gave me money on those or when we went to the arcade lol) When you get to jr. high a lot of kids have extra money to buy things at the snack bar, and at the bookstore, and they need it for things like id cards and replacements. I would have to say that its also essential for them to have as they are making their way through young adult hood. They will really miss out on some opportunities. If they can find anywhere to work let them get a part time job as soon as 16! I wasn't allowed to work till I was graduated from high school... so I really missed out on real world experiance and money management!

my mom would calculate the amount of money for my transport, food and etc. then she would put in some extra amount, so that i can still get to have some saving. btw, if i want to buy something that fancies my eye, i would have to use my saving. this way i would be able to learn how to save and also not to overspent.