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Giving pocket money to young kids always seemed such a joy - I could make them as happy as anything with an amount that wouldn't be missed in my wallet. But now that they are teenagers it seems to have become a big problem. It's never enough and I'm "so unreasonable".
I know there's no right answer to how much they should get and comparisons are nearly always unhelpful. But got any ideas to make it less painful?
Some people say givethem an allowance rather than pocket money, but how would that help?
Hi Pablo,
I'm asuming my kids are too young to start pocket money (oldest is 4), when did you start with yours?
And what's the going rate? I was recently shocked to discover that the "tooth fairy" rate(*) is £1 😯 I dread to think what pocket money costs ...
(*) Actually we don't do the whole tooth fairy thing, but we do do the money.
Usual info available on www.moneystuff.co.uk We are currently paying less than the average for 2001 - maybe the kids are right - we are sooo mean 👿
So when did you start?
At 6 and a half (because it was right after Xmas and he asked) with the first one and then we were stuck with it for the others!
Let's get it staight, the rules are quite simple,
1) You can never give enough to satisfy
2) 10 pence per childs age (so they don'y spent to much on fizzy drink and chocolate)
3) Monthly ammount added to their own bank account ( so they can by BIG items and get used to having an account)
4) Every now and then chuck some money their way just to say you love them
5) Every now and then ask them for some money so they can understand giving and helping others
What do you think to the list?
But what age did the 10p start???!!!
If you give an allowance eg monthly into their bank account you need to define clearly who is responsible for what ie do they pay for their own clothes, trips out etc?
10p per year sounds decidely mean - at 16 they'd only get £1.60 per week 😮
Does 'throwing' money at someone really say 'I love you' It all depends on your primary love languages ref The Love Languages of Children by Gary Chapman
i wonder how many black fathers give pocket money
Might be showing my lack of cultural knowledge here, but doesn't that sound rather harsh?
I do Koka - what makes you say that? What you getting at?
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