We asked parents what they give their children, writes SHEILA WAYMAN
FAMILIES SHOULD devise their own way to give pocket money – or not – depending on their circumstances and what suits them. Here is what some parents do.
Children:
Emma (15) and Sean (12), Celbridge,
Co Kildare
How much?
Emma has been receiving €80 a month since she went into secondary school: to buy her own phone credit, pay for trips to Liffey Valley shopping centre with her friends, buy food when she’s there, pay for trips to the cinema, pay into the local GAA disco and buy any outfits for the disco, buy make-up, and so on (not all of the above every month!).
The idea was that she would learn to budget and take responsibility for her own money. If she spent it all in the first week, it was gone. We held on to that and she got that message very early.
Before Emma got this allowance we had the “red book” system which we apply to Sean. He gets €20 allocated each month to the book which accumulates over time.
If he wants to buy something we agree to make a contribution.
He typically wants games for his Xbox so if the game costs €60 we would give him €20 and he pays the balance. The idea is that he understands there are limits and he does not have things bought for him at random. The only presents we buy are at Christmas and birthday.
Do they have to earn it? We don’t directly link money with anything. We do ask the children to empty the dishwasher, put on washing, bring out the bin or set the table and so on, but this is part of family life.
Do you buy them other treats?
Absolutely not, otherwise the system breaks down.
Have you reduced it in the recession? Yes. We cut Emma’s allowance down from €80 to €50 a month in April. We have also told the children that we are still going to Spain on holiday but that we will be eating in the apartment most of the time – rather than eating out – and that they will have to help with that (lovin’ that!).
Children: Conor (13), Niamh (10) and Katie (5), Cork
How much? €10 a week for the older two.
Do they have to earn it? Yes, they do chores around the house and garden.
What do they spend it on? CDs, food treats, jewellery, books, phone credit.
Do you buy them other treats?
Yes, one or two a week.
Have you reduced it in the recession? Yes.
Children: Lauren (8) and Ryan (7), Killiney, Co Dublin
How much? Lauren gets €8 and Ryan €7; half to spend and half to save.
Do they have to earn it? No, just be part of our family.
What do they spend it on? Half to spend on sweets or a treat on pocket money day, which is Friday; Lauren saves half for activities or books, while Ryan saves for Slam Attax and comics.
Do you buy them other treats? No but I do pay for Girl Guides (Lauren) and football (Ryan) and family outings.
Have you reduced it in the recession? No.
Children: Liam (9) and Charlie (7), Cork
How much? €5 a week.
Do they have to earn it? They do not have to do anything to get this money.
What do they spend it on? Mainly on magazines, sweets, drinks, Match Attax! They also sometimes save their pocket money for bigger treats they might like, eg a big toy.
Do you buy them other treats? Yes, such as books, toys and sportswear.
Have you reduced it in the recession? No.
Children: Conor (22), Eoin (19), Aisling (16) and Sinead (15), Galway
How much? During the college year the boys get lunch money everyday.
Aisling gets €10 and we put €5 in a post office account for her, so that if she needs things like make-up or a ticket to a disco she can draw from that. It is the same for Sinead but she gets €8.
We increase this amount every September.
Do they have to earn it? No, however they all have a few household chores to do like emptying dishwasher, hanging out clothes on the line, cutting the grass, etc.
What do they spend it on? Boys on their lunch; girls on sweets, crisps, bits and pieces.
Do you buy them other treats?
Not really. However, if they need something, we’ll buy it.
Have you reduced it in the recession? No, but was tempted!
Children: David and Brian, both aged 14, Michael and John, both aged 10, Blarney, Co Cork
How much? They usually get €5 a week. Up to last year the younger lads got €2 each but now do more jobs and so on. During school term there is usually a disco on once a month which the older lads go to and they get €20 each, to pay in and get a drink, and anything left over is stretched throughout the week or saved if they want something specific.
Do they have to earn it? Everyone has daily jobs to do – empty dishwasher, sweep floors, wipe down kitchen cupboards, dusting and so on.
Then we have weekly jobs of grass cutting, car washing and so on. Whatever needs to be done they help out with.
What do they spend it on? Whatever they want – it’s their money.
If they want something bigger (football, DVD, game, etc) they do extra jobs and get some extra money to save.
Do you buy them other treats? Not a lot but I would make sure they were some nibblies in the cupboard.
Have you reduced it in the recession? No.
Children: Paul (11), Stephen (8) and Jason (4)
How much? All get €5 per week.
Do they have to earn it? Each has a daily job, eg set/clear table, empty lunch boxes, make beds, sweep floor and so on.
What do they spend it on? €18 per month on Setanta Sports Channel and the rest is saved for holidays, treats.
Do you buy them other treats? We have a Friday Goodies Day – they don’t get sweets Monday to Thursday. We go to the cinema every couple weeks; they are bought ice-creams, etc.
Have you reduced it in the recession? No.