Gransnet forums

Other subjects

pocket money

(14 Posts)
jo1book Thu 05-Mar-15 13:00:55

What is the going rate for grandchildren' pocket money? It probably doesn't matter for little ones but for those 12+ it is useful.

Anya Thu 05-Mar-15 13:10:49

A £1 a week from 2 until they go to school then £5 a month, so they'll learn to budget when older. But I encourage them to put it in the bank account I've set up for them all, which they normally do unless there's something they really want or it's holiday time.

But I think I've overdone the 'why not save it?' message with the 4 and a half year old. He's NEVER spent a penny of it, it's all straight to the bank with his.

KatyK Thu 05-Mar-15 13:14:56

We don't give our DGD any pocket money - I feel a bit bad now! However since she was born we have been saving a regular amount for her every month (she is almost 15). We will have a substantial amount to give to her when she is 18. Obviously we give her money for birthdays, Christmas, Easter etc and occasionally give her £5 or something when we see her. She also saves £2 coins in one of those pot of dreams things and I regularly give her £2 coins to save in that.

Anya Thu 05-Mar-15 13:18:35

KatyK that's just reminded me. All GS2's Christmas and birthday money he hoards in the bank as well!!! hmm

ninathenana Thu 05-Mar-15 13:29:55

I don't give pocket money on a regular basis. If they are out with us (2-3 times a month) then they will invariably get a treat.
If DH gives them money it burns a hole in their pockets !

DD has a reward system for them, they have to earn their treats.

KatyK Thu 05-Mar-15 14:44:42

He'll never be poor Anya smile

tanith Thu 05-Mar-15 14:55:07

No regular pocket money here , I used to give the grandchildren a treat or some money when I visited or they visited us. Now that most of them are grown up I'm waiting for them to start giving me pocket money grin

Teetime Thu 05-Mar-15 15:01:40

GS who is 10 gets £2 a week and nephew (15) gets about £10- I often slips them both a tenner.

rosequartz Thu 05-Mar-15 15:02:08

I feel really mean now!
However, if they are going somewhere I will give them some pocket money and I gave them quite a lot of Euros last year when they went on their holidays.

They do get treats eg small toys and colouring books also clothes from me.

appygran Thu 05-Mar-15 15:10:45

I give my 6 year old gd £2 a week and emphasize some to spend, some to save and some to share and she is very good at doing all three. She often does not spend any and tends to save it up until she can treat her friend to and ice cream or her mum to a coffee. She really enjoys being able to do this and feels very grown up.

shysal Thu 05-Mar-15 17:05:28

I give my GCs £10 each for every school holiday, or £20 if they are going away. The money is transferred to DDs' bank accounts to be handed over as required. When they were younger it would be spent immediately, but now they tend to save it for something special.

granjo39 Thu 05-Mar-15 18:08:32

I don't see my two Gs very often they live too far away.They are both under 5 years (one a baby) and don't really understand about pocket money yet. When I became 75 last year and didn't have to pay approx. £12 per month for my TV licence grin I decided to make up the amount to £20 and banked £10 in each childs bank account this will make up for their lack of pocket money.

granjo39 Thu 05-Mar-15 18:09:58

This is a monthly payment of course.

shabby Fri 06-Mar-15 07:48:34

My two DGC, age 9 and 5, get £2 each per week. It goes into a tin money box that can't be opened unless you use a tin opener. They open their money boxes once a year in July for holiday spending money. They sometimes get extra if they have a good report from school.