Pocket money for 5 year olds? Post Reply

[Freds Gang]

Can anyone give me a steer on how much pocket money a 5 year old should be getting and if you attach it to small jobs or if it just a weekly 'gift' to get them used to saving??  We haven't done anything yet but after a few play dates I have realised that others do and I think that I would like to start. Grateful for any information.

[Claphamkitten]

As a parent of older kids, I would say... None... I appreciate that people will have different views but, personally, I really think 5 is much too early for kids to think about "money". If they are good or achieve something, they should get a treat, an ice-cream, cinema trip, new toy... Why do they need money? I'm also not a fan of paying for chores which I know some people do. I think it sends a very damaging message and chores should be something kids do because they are part of the family and household and should be taught to contribute and appreciate how much effort and work running a house takes. Perhaps things have changed but when my boys were 5, none of their friends got any money. Some kids got pocket money towards the end of primary school. My youngest is now 10 and noy all his friends get pocket money at this age, only some do.

[Mostdefinitely]

We don’t give anything to our 7 yr old, and 5 would’ve def been too young. They’ll do anything for a sticker though :)

[muddyboots]

Too young IMO for pocket money and small jobs.
This is very young.
If you can’t be carefree at 5 then when can you be !

Firstly because a 5yo doesn’t shop alone anyway, there is no need. Secondly, I am also against the idea of
money for chores .
It sends the wrong message, everyone in the family needs to help out .
Nobody pays a mum to empty the dishwasher!!
Many kids will say no when asked to help if they have already done their paid for chore .
Wrong on all levels.

I think a sticker or a treat or getting a peppa pig magazine or whatever at the weekend is plenty.

[SquareTiles]

I was given pocket money from the age of five and felt very important to be considered old enough to receive it. I took a lot of satisfaction in saving it up and counting it out and using it to buy Christmas presents for my family (heavily subsidised I now realise!). When I was five I was give 5p a week - yes, I know - increasing to 7p when I was seven, ten: 10p. Even then it wasn’t very much, but it was something and I saved it.

It gave me an appreciation of the value of money, and embedded in me the need to save up. You could do 50p, 70p, etc. for small children today. One thing I would say is do not give a lower amount to a younger child, make it the same for everyone, or for all children at the same stage of school (primary, secondary)