My 15 year old get's £10 a week.Although not a lot it gives him an opportunity to learn how to budget for the things he wants and has learned how to value money.It also gives him a bit of Independence and responsibility. He will use it for the cinema or to go swimming.I buy most of the things he needs and now and then i will say i will pay for things as a treat from me.The only thing i am clear on is I will never buy his computer games.This falls to him and he will save for a new one when he wants the latest game.He does surprisingly well out of the £10 and budgets it better than a lot of kids i know.It will go up to £15 a week when he is 16.He deserves it.When he goes to college next year he will get £30 extra a week in EMA and i am confident he will be sensible with it as he has had lot's of practice.Kid's need to know the value of money from a young age as it is good independance training and even a tiny amount given is a start.It's a good incentive to earn it when allocating tasks and chores.
2007-10-23 10:58:12
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answer #1
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answered by Niamh 7
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My 12 year old gets £5 pound a week and my 2 other youngest get a pick a mix treat or a magazine each. When I was little in the 80s I got 1 pound a week and with that I went swimming, had chips after and lots of sweets. How things have chanced now
2016-04-10 00:27:15
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answer #2
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answered by Shane 4
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My son is 10 years old and an only child. My ex-husband and I wanted to teach our son the value of money so we decided to give him an allowance not based on reward but to teach him the value of money. We agreed that he would receive $14/week. Half of the money he has to deposit into the bank where he can see the balance grow each week and earn interest monthly. This money is not for spending. Once the balance reaches a certain amount, the plan is to take him to have the money invested into a higher interest earning investment i.e. a GIC. The other half of his weekly allowance is his to save or spend as he likes. Purchase decisions are his to make (with some guidance from Mom or Dad). So far this seems to be working really well. He no longer asks for us to buy him toys but focuses on his own goals of buying things for himself.
2007-10-23 14:06:55
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answer #3
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answered by mariamaria 1
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pocket money is a great way to encourage your child to participate in chores, and help them with math and money management. I do discourage parents letting their children use the money on sweets. Try something a bit healthier or something a bit more educational like a new book or a trip to an ice skating rink.
3-7 year olds = 5pounds per week
8-11 year olds = 12 pounds per week
12-15 year olds= 16 pounds per week
16-18 year olds= 30 pounds per week
2007-10-23 23:20:36
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answer #4
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answered by Moral Guardian 3
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I don't give my 3 children aged 9, 7 and 3 pocket money at the moment but if they do something to help then they get awarded with anything from 20p to 50p
2007-10-23 10:41:17
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answer #5
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answered by JUL'S 3
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My son is nine. He gets all our pocket change. The change is saved up to buy a toy or something. Last winter we saved 150 dollars to buy season passes to the water park.
He also gets 1.00 for each 100 pages read. Then he has his money for little toys and stuff too. But he usually buys books with that money.
2007-10-23 10:48:09
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answer #6
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answered by musicpanther67 5
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my daughter is 5 years old and she gets $5 per week for snacks at the boys and girls club after school. If she wants to be irresponsible and spend it all in one day (which she has) then that's fine, but she doesn't get more until the following Monday. So she has learned to spread it out!
2007-10-23 12:11:28
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answer #7
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answered by BimboBaggins 3
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I'm turning 16 soon and I never received pocket money from my parents. They repeatedly tell me it's because they are trying to teach me the value of money.
TBH it's annoying but I reckon it's worked.. very well! I do spend my own birthday money but it's helped me be more cautious of stuff.
2007-10-23 10:41:54
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answer #8
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answered by Anonymous
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A lot depends on their age.Give younger kids a smaller amount and older kids a bigger amount.Mine gets 20 dollars depending on where she is going with friends for the day.They need to know how to balance their finances,and give them some to bank as well.
2007-10-23 13:44:26
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answer #9
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answered by Anonymous
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my little girl is 4 and we give her £2 a week to get sweeties with i decised when she older that if she helps with the house work she can have some say £5-£10 depending on how old and how use ful she been
2007-10-23 10:38:53
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answer #10
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answered by vlaundon2002 4
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