Our 10 year old has started asking for pocket money because her friends get it. We've never done it before. No idea what the going rate is in London these days or whether we should make it chore-based.
What do you all do?
How much pocket money at 10? And do you link it to chores?
Kofi.A · Member1,041 views8 repliesViewing this topic now1
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We do £5 a week at 10 on one of the kids' bank cards. Basic chores (bed, dishwasher, bins) are expected as part of the family and not paid. Extra jobs like washing the car get a bit extra.
£3 a week here and I thought that was generous! Clearly I'm behind the times.
It's less about the amount and more about what it has to cover. Ours gets £20 a month but that has to cover snacks after school and any Roblox stuff. Suddenly she's much more careful.
we don't link to chores and i feel strongly about it. if you pay for chores they can opt out of chores. "i don't need the money this week mum" - no.
Bit of a different approach but we pay a "salary" and dock it for things not done. Works very well for my son who is extremely motivated by money and very much does not like losing it.
Leaning towards the "covers X, Y and Z" model. Teaching her to budget is more what I want than just giving her cash.
Prepaid card apps are good for this - she can see the balance and you can set up savings pots. Ours has a pot for a new bike and seeing it go up is very motivating.
Twins here, so the same amount each - and one has saved every penny for months while the other spends it the day it arrives. Same parents, same rules. I've decided it's character and stopped trying to fix it.
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