Friday, 5 September 2014

The Going Rate and How to Earn It

The Boy Child and I recently had a chat about money.
He said he would like to have pocket money.
I said he would have to earn it.
He exclaimed, "I'm not a slave!"
I pointed out that, on the whole, slaves did not get paid.
During our recent visit to the Store of Utter Gorgeousness, The Boy Child chose a money box and named it Henry.
I know.
I thought up a shortlist of chores for The Boy Child to complete on a daily basis:

  1. make bed (even though I will most likely remake it later ...)
  2. put the placemats on the table for breakfast.
  3. put his dirty laundry into the laundry basket.
  4. lay the table at supper time.
  5. help clear away after supper.
  6. any other tasks thought up by me (clever one, that).
The Brainy One and I then discussed what amount of pocket money we considered suitable.  I also canvassed the opinions of a few family members (and received conflicting advice).
We settled on 50p per day, with a few caveats thrown in for good measure.
Pocket money can be withdrawn if chores are not done.
Pocket money can be withdrawn for bad behaviour, such as rudeness.
Pocket money can be increased ~ a bonus ~ for completing homework well and without any fuss.
So far, so good.
Did you give your children pocket money?
If so, how did you decide on the amount?


11 comments:

Abi said...

Henry really is an exciting looking money box. I don't really remember getting very much pocket money! I think it was something like a pound a week however that was about 14 years ago! I do remember that it increased each year on our birthday. When we went to boarding school we were given a sum of money for the term that was given to our houseparents and kept in the 'house bank'. On certain days we could take as much out as we wanted. A good lesson in budgeting!

Sian said...

Great looking money box!

Just wait until it's not pocket money, it's great monthly allowances to be paid directly into a bank account...Seriously, I think pocket money is an excellent idea. We increased it every year on birthdays too

Liz said...

Samuel didn't get pocket money. He had to do chores etc round the house then if he wanted to buy a new game or some war hammer we would put some money towards it. When we was 16 he opened a bank acct and we put money in every month. That had to cover bus fares, sweets, going out with pals etc. that's probably why he got a job!! He suddenly realised his money didn't go very far when the bus was so expensive 😄

Melissa said...

Sounds like a good plan!

Kirsty.A said...

I never got pocket money and had to ask for anything I wanted. Resented that though maybe it made me more independent when I did finally get my own wages. R gets £5 a wk andM £1.50 but they are dependent on certain behaviour/homework expectations. They don't get extra treats unless they earn them. Actually, as I'm typing this I realise the effect of not having pocket money is to make me controlling of it now!

Margaret J said...

A good way to start but have no idea what the rate.

Carrie Morley said...

Ha! I love that he named his bank Henry! :) Perfect name for that robot.

I don't remember getting paid a regular allowance - I think I was just paid in Spice Girl Barbie dolls! :)

Deb @ PaperTurtle said...

Haha - yes, what Carrie said. ^

I laughed out loud at his comment about not being a slave. HAHAHA, oh, your boy!

The Quintessential Magpie said...

Brilliant!

I love "Henry". He reminds me of the green color of a John Deere Tractor which brings back happy memories of childhood. My bank was made at Vacation Bible School (VBS) out of a Morton Salt container. I loved that bank and filled it with money. I washed the car every day till school started and would get anyone's spare change if they had it. Back in the 60's, I saved $25 which was a king's ransom back then! ;-)

Sorry, seeing that bank sent me wandering down Memory Lane!

xo

Sheila :-)

alexa said...

Gosh, I can imagine there must have been some serious negotiations going on here! I love his comment about not bring a slave... We had a small amount of pocket money but it wasn't tied to chores - we were expected to do those as a matter of course!

Amy said...

Our two get $20 a month and it is expected that half is saved (ie tax) and the other half they can do with it what they want - if it is gone, it is gone and not replenished.
We don't tie it to household jobs, they are expected to be done as a matter of course, I mean, I don't get paid for cleaning the bathrooms, we do it as a matter of pride and family cohesiveness. We also don't add monetary incentives to homework - too easy for them to manipulate and I view homework as an organisational skill more than an achievement at this age.