While this is great for the long-term, the boys are reaching their tween years with fiery independence. With the large amounts of money my children receive for birthdays and Christmas, we’ve opened up two accounts under each of their names.

We still have them and they hold great sentimental value. Thanks, grandparents! How Can You Give Pocket Money?įor my twins’ first birthday, their grandmother bought beautiful pewter money boxes. Instead, they take comfort watching their little nest egg grow. Interestingly, it hasn’t created any arguments or protests.

I will show them how much they’ve accumulated over the years (which is a lot!). I explain to the kids that such a huge amount of cash is not to be spent all at once. The amount is usually substantial and sometimes overwhelming. If the child is 9 years old, they will receive $9.įor special occasions like birthdays and Christmas, my parents prefer to give my children cash rather than physical presents.

Some parents like to give based on their children’s age. You can consider whether the amount you decide is to cover certain treats like ice cream, movie snacks or magazines. How much you give in pocket money is entirely up to you and what you can afford. That would be a hard “no”, buddy.įorget what other parents give. Seeing my surprise and delight, he sneakily asked for extra pocket money. One rare occasion he actually did what I asked immediately. Usually I have to tell my son to pick his clothes off the bedroom floor at least a dozen times. For us parents, what better way to get the house tidy?īe specific to what defines as a chore (ie vacuuming the house, washing dishes) as opposed to the normal daily tasks at home. Through trial and error, here are some useful tips on handing out pocket money that have worked for my family.ĭistinguish between Chores and Daily Tasks:Įarning money through work is a real life lesson kids can apply through pocket money. As a parent of 10 year old twins who constantly crave for more independence, reaching a compromise on pocket money hasn’t been easy. Dealing with the issue of pocket money can be tricky for any parent.

Give me pocket money