When should parents start giving there children pocket money/?

Question

above the age of 15 or under and why>EXPLAIN IT? or is it a bad thing to give poxket money?do you guides get pocket money or not?

PLEASE ANSWER ALL PART OF THE QUESTION TO GET 10 EXTRA POINTS AND 5 STARS.THANKS

Answer 1

As soon as they can show responsibility - not just for doing what they "should" do (cleaning up their rooms, feeding the cat, etc.) but helping clean the whole house, mowing the lawn (or little kids can clear the sticks and other stuff BEFORE the mowing), weeding the flower garden, making good grades, doing homework when asked (not being FORCED to), etc.  I know that's how kids learn responsibility, and some people don't think they should be paid for it, but they also need to learn about EARNING money and saving, spending, and giving (to charity) too - it's a good way to start.

We used to give our kids 50 cents for each year of their age per week (2.50 for a 5 year old) until they reached 12 or 13, and then we upped it to $1.00/year ($12.00/week for a 12 year old).  That way, if they want something like a CD or a movie ticket or a DVD, they have to save from week to week.  You can also encourage them to divide their money (keep, save, give to charity  - their choice).

Answer 2

I would say when they are responsible enough to know not to just spend it all on junk. And you should make it an allowance, so that they have to earn it to get it. It's not a bad thing to give them money, in case of emergencies they would have cash to call a cab or take a bus home. get something to eat or drink... etc.... I don't give pocket money unless they earn it by doing chores around the house. hope this helped!

Answer 3

1. under

2. it's ok as long as they are buying something they need or want that their parents don't want to pay for

3. no

4.no

my nephew gets money and he is only 4 if he wants something we tell him to buy it with his own money

he never has more then 5 bucks....lol he is only 4

Answer 4

I think not until at least High school, and whatch over what they buy. When young kids get money i've noticed they become too free and deperate for more money...just to be independent when it isn't needed, parents can always buy whatever their kids need as long as it's appropriate.

Answer 5

definitely sooner than 15, kids will want to be able to do things like go see a movie with friends before they're 15, and it's a good lesson to have to spend your own money for things like that.  and it's always good to have pocket money in case of emergencies.  making it earned is good.

my brother and i get our age in dollars every month, (although once we got past 15 it was easier for my dad to give us 20 than to make change!)  and are expected to help out around the house with whatever tasks we're asked to do- dishes, vacuuming, et cetera. any special intense work, like several hours of yardwork, we get paid extra for, at my dad's discretion.   they'll also give us cash for buying food if we go out with friends and it'l involve dinner or something, but things like movie tickets, going bowling, shopping, whatever, we pay for.

i think it's good to give pocket money as soon as they won't lose it, but start with small amounts.  :)

Answer 6

i think that under the age of 15 is better because the child will have a better concept of money at a younger age. althou i think this, i would keep an eye on what the child buys with their pocket money and i wouldnt give them a great deal either!!

Answer 7

I think under the age of 15.  I think it is  a good thing they realize how fast it can go when they are in control.

<a href="http://www.gptcashcow.com/members/... target="_blank"><img src="http://www.gptcashcow.com/images/si... width="468" height="60" border="0" /></a>

Answer 8

i started when my kid was about 2 yrs old.  it's a great way for them to learn how to interact with cashiers and to choose a product within their price range.

Answer 9

Parents should never GIVE children pocket money.  Children should be given the opportunity to earn pocket money starting around age 5.  A simple chore or two with a small reward such as a dollar.  

In our family, the pay is then divided up into savings, giving, and spending.  A small portion goes to a savings account or in the case of small children a large Jar where they can actually watch their money grow.    A small portion goes to giving, to church or other charities.  The rest is spent.

As a child gets older, pay gets higher, and responsibilities coorespondingly get higher.  For instance a 16 yr old might be doing 4 simple chores a week, getting paid $100 a week, but has to pay for their own clothes, cell phone, gas, etc.  They still have to save, give, but spending becomes a lot more "real world".  Also, if you don't do your chores, you don't get paid, you don't get paid, you don't have a cell phone, gas for the car, or new clothes for school.   Once again real world stuff.

So yes it is a bad thing to GIVE pocket money.  Nobody will give you anything as an adult.  You have to earn everything, one way or another.  If you learn that young, you will have no problems with it as an adult.

Answer 10

My kids get a weekly allowance and range from 6-10 years old. I think its important for them to learn spending and saving habits early. They do have chores around the house, but one isn't tied to the other. At their ages its a huge deal to spend all their money at once or save for a bigger toy. Its also nice to not have them begging for a toy each time we go to the store. They like the independance of having their own money and I like helping them learn and grow so they'll be wise with their money when they leave the house.

Answer 11

I have 4 boys all under the age of 10 I think its good to give them pocket change maybe a few dollar bills if they did something good.   Such as if my boys do a house chore or do something helpful if I have the extra buck then I give it to them.      i think its good teach young children the value of a dollar.  They already learn in first grade what each coin  value is so why not let them earn some too.    It works great for when you go to the store they can buy a small item on their own without the help of a parent.    Kids like to know they have some kind of money around too,  just like we do.