Spending money?

shillelagh · 11-10-2007, 11:17

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.

shillelagh · 11-10-2007, 11:27

And another bit:

A survey carried out for MTV says the average teenager spends £360 on going out and £350 on how they look.

grannyclaret · 11-10-2007, 11:51

Blimey.. if i remember rightly both me and my hubby got £1 a week each,spending money ,that was when we were engaged,and saving to get married ..... We both had to "tip up",,that was the norm then.Most kids living at home diddent keep their earnings

but that WAS forty odd years ago.....

WillowTheWhisp · 11-10-2007, 11:51

Mine are obviously not average.

entwisi · 11-10-2007, 11:56

I never got pocket money. I worked from the age of 7(cue violins

) at Alex's garden place near Coal Pit lane. I used to save teh money I got (20p for a full morning weeding/planting etc) in a St Bruno tin then take it to the halifax when I got £3.

Then I took over the Citizen round that my sisters started. 340 papers earned me £2.40 a week.

Gayle · 11-10-2007, 12:01

This is quite relevant for us today as it's 8th Maddie's birthday so her saturday spending money goes up by 10p from 70p to 80p. Zack still gets 50p until his sixth birthday.

The rule is that half of it goes into their piggy bank and the other half can be spent on sweets. Not that either of them really need it because they get so much stuff bought for them during the week. I guess it just starts to teach them a little bit about the value of money.

When they went on holiday they had to take their saved up spending money. We allowed them to spend it on whatever they wanted.

panther · 11-10-2007, 12:04

my daughter gets a fiver a week and then her dad gives her 20 a month (if she behaves etc...

)

jackyalex · 11-10-2007, 12:58

my eldest who is 10 gets £3.50 pw my 8yr old gets £2.50 and my 5yr old gets £1 and they all have to do a job around the house each day or we start to deduct 10p a day, i know it sounds cruel but they have to learn money isnt free

lancsdave · 11-10-2007, 13:05

Ours have just started getting spending money.

The 2 11 yr olds have to wash up once a day. They get 50p a day but if they do all week they get a bonus of £1.50 to make a fiver. The 9 yr old gets £1.50 for keeping his bedroom tidy.

If they do 4 full weeks then they get double money.

I'm also pleased to say that they have all at some time saved money up from one or more weeks to buy something they want instead of squandering it on crap

jackyalex · 11-10-2007, 13:10

Quote:

Originally Posted by lancsdave

I'm also pleased to say that they have all at some time saved money up from one or more weeks to buy something they want instead of squandering it on crap

mine think its great when they save for 2 weeks, they think their rich

West Ender · 11-10-2007, 13:22

I got 10/- a week (50p) from my dad until I left school in 1959. When I started working I gave my mum my wage each month (we weren't paid direct into the bank then) and got back £2 a week, out of which I had to pay my train fares, until I was 18 when I started paying "board" - £2-10s (£2.50) a week.

Lilly · 11-10-2007, 16:14

When I was younger (can't remember exactly how old, maybe 8ish) I got 50p a week. This was in the 1980s.

I don't give my kids spending money but intend to start very soon. They need to learn the value of money.

cashman · 11-10-2007, 19:02

when i was a kid,had to " earn" me spending money i.e. washing up, going errands etc, if i had the hump n didnt do it one day,my spending money was reduced by a 7th, didn't have the hump much after a few of those.

my 2 were brought up in a similar way, not perfect,but it learns ya the value of money etc,personally i think its a good " money don't grow on trees" lesson.

harwood red · 11-10-2007, 20:59

Mine are 14 and 15 and from starting secondary school they have both got £15 a week.......

Ok you can get your jaws off the floor now

out of that they have to buy all their school dinners, magazines and save for birthdays and xmas pressies for close family members and they work for it with jobs around the house

What has it taught them?? To budget their money and watch what they spend on lunches and to save!

From next month it all changes, I have sat down with them and discussed changing how it works.

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

There will be a running tally of any jobs they miss and for any behaviour issues where money will be deducted from the next months money..

so do you reckon it's a good idea or a bad one??

Gayle · 11-10-2007, 21:05

It's generous HR and it's a great principle. When I was a teenager I was given £5 a week spending money and £5 a week clothes money (which at the time was also quite generous).