5 Feb 2013

The Pocket Money Debate

There is quite the debate going on in the media at the moment concerning "pocket money".
Are our kids getting a fair deal ?

A new study is "claiming" that pocket money isn't keeping up with inflation.
Do our kids deserve more ?

The study says that on average, parents are giving their children $10 a week but they are failing to keep up and give the kids a "pay rise"........

Personally, my idea of pocket money is to teach our kids the value of money and start them off on the right track by teaching them to save and not to rely on the amount of money that they receive. By doing odd jobs around the house such as making beds, taking out the rubbish and doing dishes, my boys have over the years been given pocket money depending on the amount of "jobs" they have done and whether or not they have done those jobs to my satisfaction !
One of the most common questions in our home when the boys claim to have finished their jobs are.....
"Is it Mum clean or kid clean ?"
It may seem harsh but I am not one to just hand out money for jobs completed. We are all apart of  a family, living together under one roof and we are all responsible for taking part in keeping things neat, tidy and clean.

It's called team work !!

And helps to teach the kids core values and responsibility.

My kids do not go without, they are not used as slaves. In fact compared to some, my kids get things darn easy if I were to be honest.
Please don't get me wrong, I am not against pocket money, all I am saying is that in our house, when pocket money is received, it is earned and not just given out because "society" claims it is the right thing to do and as far as a "pay rise" goes, sure by all means ask away, but I can bet your bottom dollar that to receive a raise, you will also be asked to do a few extra things to warrant that rise.


What do you think of the study ?
Do you think the amount of pocket money that kids receive should reflect inflation ?
Do your kids help out with household chores ?

I am interested in your views.

Linking up with the fabulous Jess for IBOT :)


12 comments:

  1. I want to give my kids pocket money when they get older to teach them the value of saving it for what they want, as with 3 kids we won't be able to dish out cash willy nilly. But I expect my kids to also help around house and NOT be paid. But then if they do it every day for a week, maybe a bonus? I got a packet of pebbles, smarties in Australia, when I had a tidy room - might explain my sweet tooth! Em x

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    1. That's how it works here, my boys are given pocket money to learn the value of saving, but we also have daily jobs that they are required to do without payment.
      Thanks for stopping by

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  2. Oh this has been a conundrum for me for quite some time. And it's probably because I've tied it in the past to cleaning, and the painfulness of getting my teen to clean just makes it all not worth it! Having said that, she's pretty good at cleaning her room, and bringing in washing when I ask, but I never get her to clean a bathroom or vacuum the house, for example. But still, she does only get $10. I pay for her mobile on top of it. $10 doesn't seem like very much, but she earns money through babysitting, and if she is really broke and wants to go watch a movie etc I will give her money. The $10 a week turns out to be helpful sometimes when she realises she has a little bit in the bank to cover lunch or a drink when she is out.

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    1. When my boys need credit for their phone, they get the choice of cash or credit. I'm nasty, I don't do both. The ones who work as a general rule purchase their own credit so choose cash :)

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  3. I'm terrible with just buying whatever I want whenever I want, I have no value on money despite my dad being pretty senior in the banking industry until I was in my mid-teens and having a job of my own at 15. To me it's just money, you can't take it with you and I'm not very good at saving (thankfully hubby is!)... I don't want my son to be like I am, so pocket money for me has always been something that I think they have to work for, not be given. Our son is too young but hubby and I have discussed it that certain chores around the house are expected and then certain ones are paid but only if the expected ones are completed. No idea if it will work in a real world scenario, I guess we'll see but he'll never get money for the sake of money and the more he does the more he can earn.

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    Replies
    1. I agree with you totally, there are some jobs like bed making, taking out the rubbish and setting the table etc that I don't pay for. Mowing the lawn and cleaning the pool is a money maker :) Thanks for dropping by x

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  4. Oh Goodness! Mine are only 1 and 2 so I haven't even thought of pocket money yet! We didn't really get too much of it growing up, because money was so tight. But we did get to keep our own money when we started earning our own. At least I have lots of time to figure out what we'll do when the time comes :)

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    Replies
    1. I didn't get pocket money as a child either, and my boys only receive it when and if they complete a job that is on my pocket money list :)

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  5. Sometimes I "bribe" with money (I know, that's terrible) eg 'I'll give you $1 if you clean the toy room' (slave labour?) but I don't give out regular pocket money at this age (3,6 and 7 years old). At one stage, we discussed giving them money for jobs around the house but then I found my kids were doing things simply for money. I thought, no. This is a family home. I expect you to clean up after yourself etc - I'm not paying you for something that you should just be doing out of a sense of responsibility, if that makes sense. Besides, I told them nobody pays me to do the washing, ironing, cleaning, cooking etc

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  6. I think we have all "bribed" our kids at some time to get the result wanted and some peace and quiet. And your right I to believe that as a member of a family there are certain things that we should all be responsible for around the home and that includes the kids

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  7. I so agree with you, pocket money should be earned. I don't have children yet but this is how my parents raised us. This is a good way to teach children responsibilities and obligations. I think it is good for them and does prepare them for the rest of their life. I think some parents give pocket money to the children just to make them happy and I don't think this the right way.

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