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 Post subject: Pocket Money
PostPosted: Sat May 05, 2007 5:57 pm 
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Joined: Mon Mar 05, 2007 11:23 pm
Posts: 452
Location: Hop County
How much is considered reasonable pocket money for a child going to secondary school - Year 7. Assuming that lunch and travel costs are paid for - how much should we be giving?


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PostPosted: Sat May 05, 2007 6:13 pm 
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Joined: Wed Jan 11, 2006 7:10 pm
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Location: Buckinghamshire
Hi TM

We give pocket money of 50p per year of child's age at present, so age 12 gets £6.00 a week. That pays for any sweets, computer games, crazy ideas and is also for saving towards the next must-have mobile phone, games console, etc. We cover clothes, and also have a deal where for very expensive items we match what he saves provided he saves regularly.

Sally-Anne


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PostPosted: Tue May 08, 2007 8:21 am 
We do same as Sally-Anne. It seems like a lot compared to some other children, but it means that if the ice cream van comes, they can't ask for any more money. That's it for the week. My younger 2 have to keep back £1 towards their Cubs/Scout subs. Eldest saves out of hers to buy birthday and Christmas presents.


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PostPosted: Tue May 08, 2007 10:59 am 
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Joined: Thu Nov 02, 2006 3:07 pm
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Location: Finchley - Barnet
I would give a minimum of £10 per week to a 11 year old. It is always good to have money in your pocket. What will happen if he losses his travelcard? If he forgets his mobile? My dad always said never leave home without money on you in case something happens. This applies even more to children.

I currently give him money to buy snacks in his Greek school (at least £2 on Saturday and £1 on Wednesday evening) and he protests that I give him too much. I tell him to keep it and save it if he does not use it all. So he does. I want to encourage the saving habit NOW that he is still young. It is too late to learn this when you are a roaming (and tyically penniless!) teenager. He already has more than 2.5K in the bank and the majoirty is his money that he gets from singing the Christmas carrols to our relatives in Greece (it is a custom) and in the place of a present for his birthady and name-day (we celebrate both). He has saved everything. We buy him computer games (at our initiative, he never asks) and he would never dream of asking for a mobile phone (although we will force one on him as a tracking device!) There is a cash/debit card for his bank account and I will give it to him when is 15 so that I do not have the fuss of him asking me money every now and then.

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sj355


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PostPosted: Tue May 08, 2007 12:08 pm 
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Joined: Thu Nov 02, 2006 3:07 pm
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Location: Finchley - Barnet
Quote:
I would give a minimum of £10 per week to a 11 year old. It is always good to have money in your pocket.


An afterthought. Giving pocket money also depends on what you can afford which is a function of both your income and the number of children you have. With that in mind I would re-phrase to "give as much as you can possibly afford!"

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sj355


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PostPosted: Tue May 08, 2007 1:16 pm 
I keep meaning to set up a standing order into my Year 10 daughter's account. It would save me having to remember to have the right cash to give her each week, and also would encourage careful budgeting.

Here in Brum, you need to have the right change on the bus, so I always make sure she has a separate purse of change at the bottom of her bag.


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 Post subject: Pocket Money
PostPosted: Tue May 08, 2007 2:06 pm 
All mine have had an account with a cash card at around the age of 11-12, into which I pay a monthly standing order (although my youngest is currently complaining about the amount!). Money from grandparents etc goes in here and they take it out (somewhat sparingly!) to pay for presents, CDs etc. The middle one, currently at 6th form, has a bus/railcard (which I pay for) which includes travel all round the West Mids Centro area at evenings and weekends: he needs cash for luches though which I provide on a fairly ad-hoc basis as requested. He makes a small amount extra by giving music lessons / accompanying at exams, but I am happy that he doesn't have a more demanding job as A Levels are quite time-consuming. The youngest walks to school but lunch is on a pre-paid card which needs topping up by cheque or cash sporadically. I am probably also rather over-generous with handouts for "extras"...!

Oldest son is at university so "pocket money" is past history, replaced by termly "accommodation charge..."


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 Post subject: Pocket Money
PostPosted: Tue May 08, 2007 2:07 pm 
All mine have had an account with a cash card at around the age of 11-12, into which I pay a monthly standing order (although my youngest is currently complaining about the amount!). Money from grandparents etc goes in here and they take it out (somewhat sparingly!) to pay for presents, CDs etc. The middle one, currently at 6th form, has a bus/railcard (which I pay for) which includes travel all round the West Mids Centro area at evenings and weekends: he needs cash for luches though which I provide on a fairly ad-hoc basis as requested. He makes a small amount extra by giving music lessons / accompanying at exams, but I am happy that he doesn't have a more demanding job as A Levels are quite time-consuming. The youngest walks to school but lunch is on a pre-paid card which needs topping up by cheque or cash sporadically. I am probably also rather over-generous with handouts for "extras"...!

Oldest son is at university so "pocket money" is past history, replaced by termly "accommodation charge..."


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 Post subject:
PostPosted: Tue May 08, 2007 2:08 pm 
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Joined: Thu Jan 12, 2006 3:29 pm
Posts: 625
Up to the age of 14 I would say give them no regular pocket money, but pay for everything they need.

From 14 onwards continue to provide for their needs but also agree payment for jobs they have done.

As far as amount is concerned, which was the initial thread, you will need to negotiate around what you feel is reasonable depending on income and other siblings.

Regards

Mike


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 Post subject: Re: Pocket Money
PostPosted: Tue May 08, 2007 2:11 pm 
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Joined: Wed Jan 11, 2006 7:10 pm
Posts: 8204
Location: Buckinghamshire
solimum wrote:
Oldest son is at university so "pocket money" is past history, replaced by termly "accommodation charge..."


In my day there was a termly overdraft as well! :lol:

Sally-Anne


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