As I discovered when chatting to a group of parents about pocket money, the topic can get quite emotive and there are lots of different views about how much, when to start and whether or not to ‘pay ‘children to do chores.
Everyone in the group gave their children pocket but the amount was the tricky part. It seemed to be linked more to peer pressure about what everyone else was getting, rather than what the parents thought was appropriate.
This story from one Mum really highlighted the children’s understanding of the value of money. “It was Xmas and the kids got an envelope with $20 in it from their aunt. The 11 year old got mildly excited about $20. The 7 year old thought it was a lot of money and the three year old wondered why his aunt had given him a pretty picture”. Continue reading