Pocket money

How much to give?

Parents have very different opinions on giving money to children. Some parents feel that as they provide everything that their children need they don’t need to give them money. Some give money because they feel that children need to learn about spending and saving. Some parents exchange pocket money for ‘jobs’ or give it as a reward for good behaviour, homework or achievements. Where parents give an allowance children are expected to buy their own clothes.

Whatever way you deal with children’s pocket money there are always complications. Your young people will inevitably have friends (or even everybody else at school!) who get much more than they do.

When money’s tight difficulties can arise. On top of everything else going on in your life you begin to feel PMG – pocket money guilt! The best way to deal with this is to talk to your children about what you can afford. Don’t wait until they’re asking for money and you’re feeling ratty. Talk to them about what you expect from them in return for money and if they’re old enough perhaps they can think of a Saturday job. It’s important also to tell them what you expect them to buy with their money and what it means if they spend it on something else. It’s tough trying to think about your children’s weekly income when you’re preoccupied with wondering how your own will stretch out.