Money is changing hands at the Rodericks residence. All sorts or deals are being brokered and negotiations made.
Yes, we’ve started giving pocket money to our kids.
I’ve thought long and hard over this one.
Should money enter into the equation when our children are so young?
Did I succumb just because Caitlyn’s classmates were getting pocket money?
How much is too much (or, in my case, too little!)?
Then I thought I might as well use it to my advantage by linking their pocket money to the household chores. So B and I sat them down and had a chat about our expectations.
On the list: making their beds, putting their dirty dishes in the sink, packing and unpacking their school bags, tidying their room, picking up their toys, helping with odd jobs around the house…
In reality, the pocket money is not much at all. Just enough to buy a treat or two from the school canteen. But it has made them slowly realise the value of money. That it that doesn’t magically come out of an ATM. That if they work hard, they earn it. That if they save it, they can reap the rewards later.
As our parents used to always remind us, “Money doesn’t grow on trees.”
Now Caleb has been observing his sister making a pretty penny each week (she squirrels away any extra change!) and decided to cash in too.
“Mum, I think I also deserve some pocket money,” he declared.
“Really?” I asked. “What for?”
“I didn’t get put in the Naughty Corner even once today!”
So tell me, did you get pocket money as a child? What do you remember spending it on? How do you teach your children the value of money?