Pocket Money for Kids .... how much is a good amount / myLot

Australia

November 5, 2006 10:18pm CST

My children are 7 & 9 and I'm thinking it's time to increase their pocket money to include bigger jobs done around the house etc. We've slowly over the years given them little amounts to spend etc, but now they are getting older and have a bank account set up (which I contribute regularly to) I was wondering how much others give their children per week, per job etc ... All ideas welcome :)

2 people like this

8 responses

haxor111

@haxor111 (2231)

• India

6 Nov 06

depends upon ur wealth ~greetz~ ? RAJ ?

Rixelly

@Rixelly (85)

• Australia

6 Nov 06

Our wealth is within our family. thank you RAJ ~return greetz~

HemaSrini

@HemaSrini (435)

• India

6 Nov 06

There is a saying in English "Teach fishing, don't give a fish" as a parent you can give them anything they want never say "no" but instead of giving them money I strongly feel that you teach them to work on some important things and then give them few money so they will also understand what difficulties we face in raising the money for them. Its left solely to you to implement this with your kids.

pocket money

Rixelly

@Rixelly (85)

• Australia

6 Nov 06

Totally agree :)

Sheila_Abram

@Sheila_Abram (1908)

• United States

10 Nov 06

I think for those ages about $5 a week is good. If you go to church have them tithe 10% of that. Put, 10% in savings and use the rest for themselves. God Bless

children

money

ahrdwrkr

@ahrdwrkr (689)

• United States

6 Nov 06

I give a dollar a week for every year of age...a 10 yr old would get $10 a week, an 8 yr old would get $8. However, they have to take out some for giving, some to save and the rest to spend.

@Rixelly (85)

• Australia

6 Nov 06

Now there's a good idea. I'll give that one a bit more thought. Right now we try to make them save half of it which they do most of the time. Thanks very much for your help and idea :)