What's your opinion about the pocket money given to your child?

My daughter is only three, but she earns her pocket money. She helps clean up her toys without crying she gets a few coins for her piggy bank. she helps to clear the table of her dishes and anything not breakable, she gets some coins for her piggy bank. We make a big deal out of her bank being full and going to the bank. i know that each child is different. Some children, money will help motivate to study more to get those better grades. Never promise more than you know you can give is my only advice.

I think that each parent is different and has to decide what they think is best for their child. I personally feel that giving my child pocket money is a good thing. It shows them the value of change,saving, and the benefits of doing your best in whatever you do. That is something that I want my child to know. If you work hard you will be rewarded if not then you won't.

Hi Archaiwy, I never rewarded my kids with money for chores or grades. They were expected to do their best in school. If they were struggling then I also did not punish them but instead tried to find out what the problem was and deal with it. As for chores....we ALL live in the home and it is OURS and they were expected to help out as part of the family. I wanted them to have some pride in how our home looked. I DID give them pocket money when I had it to give. It wasn't a lot but it was theirs to spend or save. I did this because I felt it would help them to learn about money and saving and making choices. I don't think you are mean a bit.

How old is your child now,may I ask? Well, it depends how old they are when giving money. If they are too young, it's not appropriate to give them money when you know, they will buy anything they want and doesn't really need. specially toys or something they have seen in others which they haven't had yet. Giving them money can give them the idea that they can buy anything they want and not having the intention of saving anything or buying much important things. What do you think?

What do you mean pocket money Rs:50-100 ? We don't give more money to children. Don't give a big amount. Thats not good. Giving small money is no problem.

when I was young,my parents did the similar with you.I think it's ok.but it might be better that give children a litter more money,because we should teach them how to assign their pocket money.If we always ask the money go for what,why not spend the money ourselves? We can make a deal that money must be used in the suitable place with our children.

i have heard that you should give your children the amount in dollars as they are old meaning, if they are 12, they should get $12. i think allowences are good as they teach money management from a young age.

When I was a child my parents didn't really give me pocket money. As chores and such were things that were meant to be done. Sometimes though my parents would give me money as a reward for doing well like first in the year in a subject 10-50 dollars though as I said before it only happened a couple of times. I had 5 dollars emergency money like I forgot to pack my lunch so I would use that or need to use a public phone. I do agree that as I experienced this myself children do not really have a need for pocket money but it is nice to have some if you are getting gifts for family or friends.

I think if you think your child is disciplined and well grown up then it is ok to give money but not too much. I prefer giving a child a reward in form of goods/stuffs rather than money.

giving pocket money to a kid is not a bad idea. but giving excess amount of money to them is really bad. we should give what that kid want for that age only. if we give more freedom there is a chance that they may go in a wrong way. so it is every parent's duty to guide their kids.

you are doing right. i don't see how we give much money for kids at school, they only buy junk foods or unnecessary toys. Asking them where the money would be use for is good. Do not deprive him of experiencing to have his own money because some get envious over classmates that can afford to just buy anything, but teach them of the proper use of it. keep it up, those who said u are mean does not really know what they are talking about.

My child is 5 now, but I used to think about this pocket money matter. Now he does not know much about money. In my view, pocket money should be given to the children but not a BIG amount. Because if they will get a BIG amount then their exception will rise and end of the day they can not understand the value of money. Its important for the kids to realize the importance of money, so that they can spend it in a proper way in future.

Personally I'd go with the system my mother used - earning your pocket money. It instilled some great values in us from a young age and taught us the importance of money. I wanted to go horse riding when I was younger and I had to pay for all of my lessons with money I earned myself, whether that was helping out with my grandfather's sheep or doing housework. There was a set amount on each chore - washing up, tidying up, sweeping & mopping, preparing salad for dinner etc. I started working when I was 12 or 13, part time and summers for stables and it earned me the money I needed for my luxuries.

You should give money, but we should make sure it's not used for anything bad. I know it's hard to find out how they're using it, but somehow, it must be done. A little increase in their allowance can be quite the morale-booster. The child can get better in studies, sports and nearly everything with just a little more money. But, it's finally your decision. So choose well. :) (Hope this helped)

I think it is great that you do not pay your child for grades. As an educator I think that your child should do well in school because he or she loves to learn not because they get paid for great grades. Growing up I was praised for my grades (like good job or I am proud of you), but I was never given any money. I used to get a weekly allowance for 1.00 a week and I had three different kinds of piggy banks, 1 for savings, 1 for spending and 1 for charity. I think a child should be given an allowance to teach them responsibility and to teach them how to budget.