Spending money? - Page 2

jackyalex · 11-10-2007, 21:20

[quote=harwood red;480570]

From beginning of November they will both get £100 a month. But from then on all I will pay for are shoes and school uniform... oh yeah and I suppose I will feed them at home

do you have a money tree in your back garden, 100 each can i come and live with you

BERNADETTE · 11-10-2007, 21:24

If you stick to the rules HR it should work well both ways. From the way you have worked with your boys and taught them the value of money I can see it being a success.

harwood red · 11-10-2007, 22:14

Thanks for that bernie.

I know £100 sounds alot but take into consideration they are teenagers wanting particular clothes, go to parties, shop in manchester, go to pics etc... think about all that and add up how much it would cost over a month and then add on school dinners too.

When broken down it's not that generous and the fact they have to earn it and lose some as punishment too!!

Luckily they have grown up to be quite good with money, whether that is because I have been trying to teach them from a young age that you have to budget for the things you want and also earn it too.

Lilly · 11-10-2007, 22:16

Quote:

Originally Posted by harwood red

Thanks for that bernie.

I know £100 sounds alot but take into consideration they are teenagers wanting particular clothes, go to parties, shop in manchester, go to pics etc... think about all that and add up how much it would cost over a month and then add on school dinners too.

When broken down it's not that generous and the fact they have to earn it and lose some as punishment too!!

Luckily they have grown up to be quite good with money, whether that is because I have been trying to teach them from a young age that you have to budget for the things you want and also earn it too.

Sounds very good to me. I think I will implement something like that when mine get older.

cashman · 11-10-2007, 22:18

nice one red,think its a damn good way.

harwood red · 11-10-2007, 22:21

awww shucks

thanks

Ps my kids are convinced that I taught supernanny everything she knows anyway

BERNADETTE · 11-10-2007, 22:31

Could do with a few more who stick to what they say. As you say it isn't a huge amount when broken down. They sound like sensible kids so they aren't going to blow it, that would be detrimental to them.

harwood red · 11-10-2007, 22:36

Quote:

Originally Posted by BERNADETTE

Could do with a few more who stick to what they say. As you say it isn't a huge amount when broken down. They sound like sensible kids so they aren't going to blow it, that would be detrimental to them.

Yep think mine know that when I say something I mean it..

like the time I had told them to behave in the car on the way to alton towers, they didn't so I threatened to turn round and go home if they carried on... they did ... so we went home and we were nearly there!!!!!!!! It nearly killed me though

entwisi · 12-10-2007, 06:43

Ah but do they get more on a 5 week month?

seriously, it sounds good. My only concern is that if they weren't as sensible as I'm sure they are you're sort of pressurising them into spending less on Lunch to buy nice things elsewhere, I could see that going wrong in some cases. Ring fenced cash for lunch where if you don't spend it you lose it might be a better plan. After all there are a good few youngsters who are already getting pressurised into skipping lunch to look good, offering them a cash incentive to do so doesn't sound quite right to me.

harwood red · 12-10-2007, 09:47

Quote:

Originally Posted by entwisi

Ah but do they get more on a 5 week month?

seriously, it sounds good. My only concern is that if they weren't as sensible as I'm sure they are you're sort of pressurising them into spending less on Lunch to buy nice things elsewhere, I could see that going wrong in some cases. Ring fenced cash for lunch where if you don't spend it you lose it might be a better plan. After all there are a good few youngsters who are already getting pressurised into skipping lunch to look good, offering them a cash incentive to do so doesn't sound quite right to me.

I know what you are saying Ian and in many cases it may not work. However, someone once raised that concern with me with the weekly money, so I asked what they did and they gave them money daily.. and I just asked how do you know what they are eating daily?? (never mind the stories I heard of kids selling their pack lunches!!)

I've done this more to give them more responsibility and to learn about budgeting in a monthly capacity as most jobs out there are paid monthly... ok and I know they are still kids but I don't think it does them any harm and if they hadn't wanted to go for it then I wouldn't push it.

Plus I worry less about what they are eating at school when I know I am making them decent evening meals..must be working as the 15 year old is over 6ft now

and is a qualified football referee so is earning at weekends too!

Finally the money is per calendar month as wages would be

jelly baby · 12-10-2007, 10:26

Quote:

Originally Posted by shillelagh

Random stat
of teens get £1,476 a year in pocket money

This comes from the bbc magazine on their website.

I couldnt believe that kids getting nearly £1500 a year. That equals £15 a week spending money. I used to get £2 a week. Best was i got a paper round paying £2 a week and thought im going to be rich i'll have £4. My dad when i told him he said well that saves me £2 a week then!! I didnt get spending money again after i started doing the papers. Told him it wasnt fair and he said you are earning now so why should i give you spending money! One way to get an extra pint up at the club!! Anyway what do you give the kids if you have any and what spending money did you get. Do you think its a bit much though.

£1.476 over 52 weeks actually works out at £28.38 per week, so its worse than you think!

SPUGGIE J · 12-10-2007, 11:02

Quote:

Originally Posted by jelly baby

£1.476 over 52 weeks actually works out at £28.38 per week, so its worse than you think!

Thats a Litre of vodka and other essentials for a Friday night mischief causing session.

LancYorkYankee · 12-10-2007, 17:33

We never got an allowance when we were kids. Actually didn't even know about them till we got into school. When we asked about it my Dad that we get free room and board and we should be thankful for that.

As with Ian, we all started helping on my big brother's paper route at ~7 years old. ~60% went into savings, 30% was spent on baseball cards, comics, and such and 10% went to church.

We tried allowances with Annie and Joshua. Annie worked hard for her chore money ~$3 - $10/week. Joshua was a bum and many times got nothing. Although he still did his chores as pure slave labor!

He gets alot on money for his birthday and uses that throughout the year. Now that he is involved with Cross Country, Student Council, advanced courses, we see that as somewhat replacing many of his chores. (I think he plays Cindy like a fiddle as he always seems to have some new item when they get home from school and work!)

Brian