Jump to content

Allowances, pocket money and going rates


  • Please log in to reply
31 replies to this topic

#1 Feral*Spikey*

Posted 19 July 2013 - 05:49 PM

Help me oh wise ones of EB!

Until recently, DD's allowance, if we were to call it that, was taken care of by me buying her a toy while we did the weekly shop.

Circumstances have changed, and DH now does the shopping, during the week when DD is at school.

DD makes her own bed, and packs her bag, takes care of her washing (putting it in the laundry basket and putting the clean stuff away), as well as helping tidy and a number of other small chores.

We want to give her an allowance or something, so she gets more familiar with money (no canteen at her school, so scope for using money is limited), and the idea that chores are worth something.

Share with me (and DH) your best ideas, rates, and thoughts on how much we should give DD, how we might work it out, and how do you make it a learning experience!

Neither DH or I got pocket money as kids, so it's not something we're terribly familiar with.

#2 Poss and Soss

Posted 19 July 2013 - 05:55 PM

What age?

#3 Bomber girl

Posted 19 July 2013 - 05:57 PM

Rough guide is $1 per year so a 5yr old $5, 10yr old $10 etc

#4 CallMeFeral

Posted 19 July 2013 - 06:10 PM

I give my 3 and 4 year old their age in dollars, per week.

#5 CallMeFeral

Posted 19 July 2013 - 06:14 PM

Oh as for making it a learning experience question, a money blog I read called simple dollar has some excellent suggestions.

http://www.thesimpledollar.com/2013/04/27/...owance-lessons/

http://www.thesimpledollar.com/2012/03/20/...llowance-79365/

However my kids are still getting used to the concept of saving and spending, so I don't yet do what he suggests (a portion for saving for the future, a portion for charity, etc). I hope to move to that later.

#6 JECJEC

Posted 19 July 2013 - 06:43 PM

What age would you start pocket  money.

#7 Feralishous

Posted 19 July 2013 - 06:56 PM

QUOTE (CallMeProtart @ 19/07/2013, 04:14 PM) <{POST_SNAPBACK}>
Oh as for making it a learning experience question, a money blog I read called simple dollar has some excellent suggestions.

http://www.thesimpledollar.com/2013/04/27/...owance-lessons/

http://www.thesimpledollar.com/2012/03/20/...llowance-79365/

However my kids are still getting used to the concept of saving and spending, so I don't yet do what he suggests (a portion for saving for the future, a portion for charity, etc). I hope to move to that later.

excellent links, thanks!

#8 Feral*Spikey*

Posted 19 July 2013 - 08:25 PM

Oops. She's nearly eight.

#9 Jen1

Posted 19 July 2013 - 09:01 PM

Free.  biggrin.gif

#10 EsmeLennox

Posted 19 July 2013 - 09:16 PM

Our kids have set chores and get paid $30/month, so roughly $1 a day. Of that though, $10 must be banked, so in their pocket they get $5/week.

#11 FeralProudSwahili

Posted 19 July 2013 - 10:13 PM

My 6 year old gets $1 a week.

I'm stingy, but until I get better value for my money, $1 a week it is.

#12 Justaduck

Posted 19 July 2013 - 10:23 PM

Apparently kids are getting nearly $50/wk for two hours chores! Send me to their house, I will do odd jobs for $25/hr

http://www.news.com.au/national-news/south...4-1226679875249

#13 Jaffacakes

Posted 19 July 2013 - 10:29 PM

My DD (almost 6) started getting pocket money at the start of the year to help familiarise her with the concept of saving, spending, banking (which they do at school) etc.

So gets 50c for each of her two assigned chores that she does (so up to $1 per day). DS1 (who is 3 and has no idea about it all really), gets 50c per day for his one assigned chore.

#14 harryboy

Posted 19 July 2013 - 10:30 PM

My son turns 9 soon and I am thinking I will start to give him $5 per week for a few basic chores. Up until now he has needed very little and when he has wanted something I have sold something he no longer wants on Ebay for him to use that money. Personally, I can't fathom what say a 5yr old would do with $5 every week....to me it just encourages them to buy stuff they don't need.

#15 EsmeLennox

Posted 19 July 2013 - 10:33 PM

My 6 year old tends to save his $5/week up and then buys one larger thing with it - at the moment he's saving for an octonauts toy which retails for about $70. He has also in the past saved for lego sets etc. Sometimes he buys craft supplies too.

None of my kids tend to spend their pocket money on lollies or crap, they tend to save and buy something larger. DS1 spends his life saving for fishing equipment, DS2 is saving for a 3DS.

I guess you can argue that they don't 'need' some of these items, but what they are learning is that you can't have something the second you want it and that things that they want have a value. I think that's a pretty important lesson, even for a 5 year old. wink.gif

Edited by Jemstar, 19 July 2013 - 10:35 PM.


#16 2bundles

Posted 20 July 2013 - 06:55 AM

Mine get $5 a week. They are 8&10.

Ds mostly saves his, dd mostly spends hers on rubbish.

They probably should do and get more, but they don't ask.

#17 lottie9

Posted 20 July 2013 - 07:01 AM

We don't link chores to pocket money. I expect the kids to do chores as part of their family responsibility.

For us, pocket money is more about learning to budget and make choices about spending, rather than about the idea of earning money.

#18 bahalee

Posted 20 July 2013 - 07:41 AM

Mine only get 40cents a day for 1 small chore in addition to packing up, making beds. They only get it if they do their chores. If they forget can't be bothered or don't do it properly, no payment.

I want them to learn you have to earn money and to take pride in work and to work hard if want something. If they do extra chores such as collecting firewood for a couple of hours, they get $5. Sometimes they ask for extra chores to earn for a toy they really want.

Mine also have a save month and a spend month but if saving for big thing spend money gets put aside. Can't spend from bank acct as want that to be for future. I put $10 a month on top of their earnings in bank accts.

Mine are 9, 7, 6 and 3. 3yo hasn't really started on chores yet but will soon. Will increase rate once their chores increase.

Edited by bahalee, 20 July 2013 - 07:42 AM.


#19 SisterMaryElephant

Posted 20 July 2013 - 09:11 AM

Mine don't get any.  They are 10 and nearly 8.  They do get birthday money from grandparents which they choose to either save or spend on what they'd like. And tooth fairy money. They do have a good concept of value and any big ticket items they really want they can wait for their birthdays.


#20 AngryBird

Posted 20 July 2013 - 09:20 AM

No pocket money for chores in our house - we all do the housework because we all live in the house! If you don't want to empty the bin/wash the dishes/unpack the dishwasher you are welcome to not put rubbish in the bin/use clean dishes!

Our older boys get paid for walking the dogs and cleaning up the dog poo. $3 per dog per day/every time it's done. We did this because at 13 and 10, it gives them the opportunity to develop it into a small business in the future, if they want to. (dog walking)
The younger kids often bargain certain extra tasks for "marbles" which equate to dollars. I don't offer them but at 7 and 8, they know the older kids are getting paid and want to get in on the action as well.

One thing we do with payment though, is have a once a month "pay day". Last day of the month is pay day and whatever they have accumulated over the month is tallied on that day. The first day of the next month is shopping day, when they can spend what they have earned. So they "save" all month, and don't often spend the month's worth in one day. Sometimes they'll pay me during the month for a $1 ipod app, which is fine but actually going out and shopping for "stuff" is confined to once a month. This usually means they save up for stuff.

#21 Ice Queen

Posted 20 July 2013 - 09:25 AM

DD is 4 and she now gets $4.  We only just started.

I am often spending money at Smiggle and the shops for small things (not every time but occasionally) so now this is where those treats will come from.  She is in a very 'I want, I want' mode at the moment which drives me mad at the supermarket as I refuse to indulge her every single time I set foot in a shop.  She now can learn the value of how much things cost ad only buying things she really really wants.  So no more cheap rubbish is being bought than before and I am hoping it will actually reduce.

And yes she has to help me more during the week.

#22 tenar

Posted 20 July 2013 - 12:25 PM


We give $4 to our 4yo and $2 to our 2yo (not that the 2yo can use her money, she just wants something to post into her piggy bank.

We got them both a Money Savvy Pig piggy bank when DD1 turned 4.  It has slots for saving, spending, investing and donating.  We are working on DD1's understanding of the idea of spending money vs saving money.  We started when she turned 4 because it's so simple and concrete to give her 4 $1 coins - one for each slot.  

We don't tie money to chores in this house because we believe it's more important to understand how to deal with money once you have it (ie save/spend/invest/donate) and because we think everyone in the household should do chores according to their ability anyway - it's part of the deal of living in a family.

#23 Chocolate Addict

Posted 20 July 2013 - 01:53 PM

We have a chore chart - it is stuff that should be done anyway, make bed, bring plates/cups in, put clothes in laundry etc.. but it is an incentive to get him to do it, he takes after me and is a bit lazy. lol

The chart has about 7 things listed and it is his job to put a tick in each box that he has done. At the end of the week he gets paid 20 cents for every tick.

He has potential to earn something like $20 but the most he has earnt is $10.30 and that was a one off, he normally gets between $3.60 and $5. If he doesn't tick it by Sunday morning then it isn't included, even if he did it.

He hasn't ticked anything this week so will not get paid. He can do what he wants with his money, he doesn't eat 'junk' food so usually buys a small toy or saves up for something bigger.

We also do school banking, which we bank $3 a week.

#24 Let_it_Rain

Posted 20 July 2013 - 02:01 PM

My 3 3/4 year old DS gets $2.50 a week so long as he is good at pre-school.

It is about him learning about money, and the whole currency exchange for products. He knows a lolly-pop costs him the big silver coin, and he can get a car for the little gold one.

Most weeks he saves $2.00 in his money box and just buys the lolly-pop. He hasn't yet worked out saving to buy bigger things, but we'll start teaching that soon.

#25 kazzamama

Posted 20 July 2013 - 02:34 PM

We have a velcro chore chart, with stars to stick on various chores. DD (3 1/2) and DD (almost 2) can both earn stars by helping with putting away clothes, tidying up, helping set the table, etc. This is usually voluntary - I don't expect much from them at this age (although I do generally expect some level of tidying their toys). After they collect 5 stars, they can (and usually do) redeem them for TV time. This way we are minimising TV, which seems to make them quite naughty if they watch too much. Sometimes I let them have 'free tv', if I really need to have some time to myself or need to get something done!
They love to put our spare change in our money boxes, but don't get pocket money yet. I like the idea of giving money for good attitude and initiative rather than for chores, which I think should be expected of anyone living at home. My dad didn't give us pocket money for chores, but would every so often slip me $20 if I happily did the dishes or vacuuming without being asked. So I managed, and learned that attitude goes a long way.
Likewise we don't give our DD a star if she is screaming and carrying on while packing up, but she might get 2 stars if she does it happily and without being asked. She sometimes gives me a big smile as she's putting a toy away and says 'look mum, Happily!!'  biggrin.gif
I think maybe we'll transition to money rather than stars when DD starts school... she's quite happy at the moment with stars and TV for currency!




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users

 

Special Ticket Offer, Save $8!

The Essential Baby & Toddler Show is back this April! Save $8 off the door price for a limited time only!

Why I breastfed my son until he was three

The fact that I not only breastfed my son, but breastfed him for three and a half years, seems pretty incredible in retrospect.

Do babies and young children see ghosts?

Do babies and young children see ghosts? If you’ve pondered the question, you’re not alone.

15 years with Essential Baby: meet Therese

"Life has a funny way of giving you what you need when you need it the most."

Mum causes a stir by taking a stand against leggings

A mum has found herself the subject of debate after claiming tight bottoms cause lustful thoughts in men.

Don't set a parenting goal for 2015 - do this instead

The problem with goal setting as a parent is the measure. How do we really know if we’re succeeding?

5 pregnancy myths that just won't go away

When you're expecting, it often seems like everyone is keen to offer advice about what you should and shouldn't do in the interests of your health and wellbeing.

RPA hospital contacting mums after discovering vaccine storage fault

Sydney's Royal Prince Alfred Hospital (RPA) is trying to contact women who had babies at the facility after discovering a fault in a refrigerator containing vaccines.

'Nutella' not a baby name, French court says

A French court has blocked parents from naming their baby girl after the hazelnut spread Nutella, arguing it would make her the target of mockery.

Why I'm never calling myself 'just a mum' again

I’ve grown three human beings. I feed them, dress them, teach them, care for them and love them 24 hours a day. Yet for eight years, when I meet new people and they’ve asked me what I do, I tell them: “I’m just a mum”.

Rosie Batty named 2015 Australian of the Year

One year ago, Rosie Batty could not have imagined she'd be where she is. Tonight the grieving mum who put domestic violence on the national agenda was named Australian of the Year.

Five reasons to hug more

Hugging – some of us thrive on it, even depend on it – and then there are those who don't care for it really. So, are they missing out?

Help - my three-year-old has started throwing tantrums

My daughter never went through the "terrible twos" but began throwing wild tantrums shortly after her third birthday.

That's commitment

First peek at Sonia Kruger's daughter Maggie

"She smells so good, I could eat her," Kruger tells co-host David Campbell.

Mum assists in own caesarean surgery

A mum who partly delivered her own twins during a caesarean has encouraged other women to take control of their birthing experience.

How to handle common childhood regressions

Regression can be a natural and common part of development prompted by a variety of factors, but that doesn't make it less frustrating.

Disgruntled dad's pram ad goes viral

When buying a second hand pram, there are lots of things to take into consideration. 

Man discovers he's a dad after finding 55-year-old letter

Discovering you are about to father a baby is startling enough - never mind finding out you have a 61-year-old son.

15 thoughts mums have during a tantrum

Ranging from mild to feral and triggered by events both minor and major, tantrums certainly keep life interesting.

Natural pain relief in the early stages of labour

While managing labour pains on your own can be daunting, there are a number of natural pain relief options to help you cope until you are admitted to hospital.

Win an Octonauts prize pack

To celebrate the launch of Octonauts Live! Operation Reef Shield, a spectacular underwater adventure live on stage, we are giving away an amazing Octonauts prize pack to one lucky fan.

Download now: Essential Kids Activity Finder app

Got bored kids? Quickly find the best activities for kids wherever you are in Australia with the Essential Kids app.

 
Advertisement
 
Advertisement
 
 
 

What's hot on EB

Forgotten Baby Syndrome claims the life of toddler

One baby dies every eight days in the back of a car in the US, victims of 'forgotten baby syndrome'.

For a brief time, I was touched by an angel

For a brief time, I was touched by an angel. You stole my heart, and changed me into the women I am today.

Chinese woman gives birth to quintuplets

After six years of trying for a baby, a couple’s dreams have come true many times over after the mum gave birth to quintuplets this week.

Chrissie Swan has reached her "sex quota"

Chrissie Swan says she and her partner have sex once a year due to her fear of falling pregnant.

Stars help save choking babies

It's an important lesson to learn, but one that busy new mums and dads might overlook until it's too late.

New Girl star Zooey Deschanel pregnant

Actress Zooey Deschanel is expecting her first child with her producer boyfriend Jacob Pechenik.

16 times 'dad reflexes' saved the day

Of course, in some cases they may be the ones who actually got their child into a precarious position in the first place, but we'll ignore that for now.

Couple's 'non-traditional' pregnancy announcement goes viral

Knowing you are not the father of your pregnant wife's baby would usually indicate a rocky relationship ahead for traditional parents.

The trials and tribulations of identical triplet newborns

Pip Donnelly is still playing spot the difference with her newborn identical triplets, Isabelle, Georgina and Frankie.

Win an Octonauts prize pack

To celebrate the launch of Octonauts Live! Operation Reef Shield, a spectacular underwater adventure live on stage, we are giving away an amazing Octonauts prize pack to one lucky fan.

Earthquake baby thriving five years on

Jenny Alexis is lucky to be alive after spending four days buried in the rubble of the 2010 Haitian earthquake, but now she's a thriving five year old.

Please don't say I'm lucky because I was adopted

On the one hand I was having a regular life with friends and sports and sleepovers and school. But I was also always wondering: Did my mother love me? What was wrong with me?

An open letter to non-parents who offer advice on child-rearing

Kitty, when you’re the parent of my child you’re welcome to wade in with an opinion – but until then, I’d prefer you to have a supportive ear and a glass of wine ready.

Couple arrested over baby gun video

A US couple faces charges after investigators say they found mobile phone videos showing the woman's 12-month-old daughter putting a handgun in her mouth.

NSW Health dumps 10-year limit on frozen embryos

A 10-year time limit on storing frozen embryos that were created with donor sperm has been dropped by the NSW government.

How my happy-go-lucky husband became a monster

Sharan Nicholson-Rogers watched her husband change from a happy-go-lucky police officer into an unpredictable man prone to violent and emotional outbursts.

Dads-to-be experience hormonal changes, too

Dads-to-be experience hormonal changes in line with their pregnant partners, a new study shows.

'They were just doing their job': mum of toddler killed in police chase gone wrong

"They were just doing their job. I feel so sorry for them. It is all just too sad."

Miscarriages to be formally recognised by NSW government

Women who miscarry will be able to obtain an optional "recognition of loss" certificate as a formal recognition of their often heartbreaking loss.

Cafe cubby house 'too noisy' for neighbours

Teenage parties, domestic disputes, or raucous late night pubs are the things that usually come to mind when you think neighbourhood noise complaints.

Dad films baby playing with snake

Most parents would not consider a snake an appropriate playmate for their baby, but a US dad who filmed his daughter playing with a python has defended himself against criticism.

Clever breastfeeding products

Check out this range of products designed to help make your breastfeeding journey more enjoyable, manageable and convenient.

 

Back to School Offer

Findababysitter.com.au

We've got you covered for this school year. Use www.findababysitter.com.au to meet local nannies now.

 
Advertisement
 
 
Essential Baby and Essential Kids is the place to find parenting information and parenting support relating to conception, pregnancy, birth, babies, toddlers, kids, maternity, family budgeting, family travel, nutrition and wellbeing, family entertainment, kids entertainment, tips for the family home, child-friendly recipes and parenting. Try our pregnancy due date calculator to determine your due date, or our ovulation calculator to predict ovulation and your fertile period. Our pregnancy week by week guide shows your baby's stages of development. Access our very active mum's discussion groups in the Essential Baby forums or the Essential Kids forums to talk to mums about conception, pregnancy, birth, babies, toddlers, kids and parenting lifestyle. Essential Baby also offers a baby names database of more than 22,000 baby names, popular baby names, boys' names, girls' names and baby names advice in our baby names forum. Essential Kids features a range of free printable worksheets for kids from preschool years through to primary school years. For the latest baby clothes, maternity clothes, maternity accessories, toddler products, kids toys and kids clothing, breastfeeding and other parenting resources, check out Essential Baby and Essential Kids.