So today I am busy moving house so the lovely Kate from Family Fever has stepped in to provide you with a post to get you thinking……
I read an article recently saying that the average child in the UK receives £12.74 a week in pocket money.
Now, I know that pocket money is always going to vary from family to family and area to area. But to me, that seems a lot?
My children are 8, 6 and 1. We put money into their savings accounts each month, but I don’t see that as ‘pocket money’.
The older 2 get £1 a week, and there is the potential to earn a little bit more if they help with some of the bigger household jobs such as washing the car, weeding the garden and hoovering their rooms.
See, I did the maths. £12 a week equates to more than £600 a year, per child. I have 3. And I simply don’t have £1800 a year to give to my children.
On top of all the things I pay for on a daily and weekly basis – school trips, uniforms, after school clubs, days out, childcare – can I afford an extra £36 a week as ‘pocket money’? The simple answer is no, I can’t. And I refuse to feel guilty about that.
My children know the value of money. They know that if there is something they really want, they have to save up for it.
They will help out more around the house to earn an extra 50p here and there, and when they have saved enough we will happily take them to buy whatever it is they want.
Because they have earned it – and that’s a valuable life lesson.
Both Gemma and Jacob saved up enough for new scooters recently, and they couldn’t have been prouder, walking out the shop with the item they wanted so badly, that they had worked hard and saved for.
So what do you think? Is £12.74 a week a realistic sum for us to be handing to our children, or are we giving in to pressure from our children, or trying to ‘match up’ to other families?
I totally agree with what you've said Kate, I think it is the same with things like the tooth fairy too, there is a lot of pressure to do the same as other parents. I like you put money into their savings accounts when I can. Kids should learn to appreciate what they have and I think by earning the money and buying it themselves, regardless of how long it takes makes them more appreciative.