How much pocket money do you give a teenager?
Discussion
As per the title, how much should a teenager get? Say for 14, 15, 16 and 17 year olds (I assume it goes up as they get older).
They have a bank account, so no "cash" as such.
Just to clarify, separate from their needs for travel to school and lunch, that's dealt with separately.
Advice welcome.
They have a bank account, so no "cash" as such.
Just to clarify, separate from their needs for travel to school and lunch, that's dealt with separately.
Advice welcome.
dundarach said:
14 & 16 never given pocket money, tend to give them money when required.
Also they understand that things like Spotify, Apple TV, Xbox, iCloud storage and on and on ... Need paying for monthly!
Not forgetting (which I did) rugby subs, dancing subs, gym subs and on and on
Sports subs aside, some of the ongoing costs such as PlayStation subs etc, I get the kids to pay out of their pocket money in the hope they appreciate the concept a little more. So if they cancel a sub, their ‘income’ goes up.Also they understand that things like Spotify, Apple TV, Xbox, iCloud storage and on and on ... Need paying for monthly!
Not forgetting (which I did) rugby subs, dancing subs, gym subs and on and on
Mine get £1 per year per week. The boy currently on on £13/week, the girl £11, paid into their GoHenry accounts. For this they are expected to keep rooms clean, put away laundry, entertain the baby etc. They also get a school house points bonus paid at the end of each term, usually around the £50-100 mark depending on behaviour.
dundarach said:
14 & 16 never given pocket money, tend to give them money when required.
Also they understand that things like Spotify, Apple TV, Xbox, iCloud storage and on and on ... Need paying for monthly!
Not forgetting (which I did) rugby subs, dancing subs, gym subs and on and on
Same Also they understand that things like Spotify, Apple TV, Xbox, iCloud storage and on and on ... Need paying for monthly!
Not forgetting (which I did) rugby subs, dancing subs, gym subs and on and on
The_Doc said:
loskie said:
Just out of curiosity why use a product that charges?
Agree. HSBC for both mine, free banking and parallel savings acounts paying 5% I think.Go Henry and Hyoerjar and whatever are an expensive way if doing it.
We ended up with Monzo accounts for me and the kids. It took 2 minutes to setup, my account was opened and added to my iPhone immediately, the kids cards arrived in the post within 72 hours.
My daughter was up to, as I recall, £20 a week before she went to uni and it all got a lot more expensive;)
She paid for her (non-school clothes) and going out from that. Phone, Spotify I paid for (and still do, still working on when that subsidy should end). She also worked part time from 16 on, saved some of that and spent the rest on holidays, trips out etc.
ETA, started her on ca £5 a week when she was 10, if I remember rightly.
From a financial awareness pov, her part time jobs in a music shop and a few cafes/restaurants have made more impression on her than pocket money. Nothing like getting paid (by someone who isn't your dad) for your own endeavours to clarify the value of money.
She paid for her (non-school clothes) and going out from that. Phone, Spotify I paid for (and still do, still working on when that subsidy should end). She also worked part time from 16 on, saved some of that and spent the rest on holidays, trips out etc.
ETA, started her on ca £5 a week when she was 10, if I remember rightly.
From a financial awareness pov, her part time jobs in a music shop and a few cafes/restaurants have made more impression on her than pocket money. Nothing like getting paid (by someone who isn't your dad) for your own endeavours to clarify the value of money.
Edited by dontlookdown on Tuesday 23 September 09:54
WH16 said:
Mine get £1 per year per week. The boy currently on on £13/week, the girl £11, paid into their GoHenry accounts. For this they are expected to keep rooms clean, put away laundry, entertain the baby etc. They also get a school house points bonus paid at the end of each term, usually around the £50-100 mark depending on behaviour.
Don't they lose £1.50 a month in charges from go hendry? First thing i'll be teaching my niece and nephew when they are older is about paying for things they shouldnt.My kids lifestyles today are very different to my own when I was their age, giving pocket money doesn't work for us.
Smaller amounts are given out as required and as requested, based on behaviour and school / college performance.
My youngest, 14, has an Iphone 16 on contract, plus PS plus subscription. On top of this he has a months trip to Peru planned for next year which isn't cheap! If he goes out with his mates or so on, I'll give him some extra spending money but giving a fixed amount on top of what he already receives, nah.
My eldest was at college at 17. Phone, driving lessons, buying, insuring and fuelling a car for her, on top of a teenage girls requests for clothes, makeup etc, meant no pocket money there either, but, we happily gave her a lump to go off and do camp America. About to start her first full time job so hopefully we will be seeing a drop in demands!
Smaller amounts are given out as required and as requested, based on behaviour and school / college performance.
My youngest, 14, has an Iphone 16 on contract, plus PS plus subscription. On top of this he has a months trip to Peru planned for next year which isn't cheap! If he goes out with his mates or so on, I'll give him some extra spending money but giving a fixed amount on top of what he already receives, nah.
My eldest was at college at 17. Phone, driving lessons, buying, insuring and fuelling a car for her, on top of a teenage girls requests for clothes, makeup etc, meant no pocket money there either, but, we happily gave her a lump to go off and do camp America. About to start her first full time job so hopefully we will be seeing a drop in demands!
WH16 said:
Mine get £1 per year per week. The boy currently on on £13/week, the girl £11, paid into their GoHenry accounts. For this they are expected to keep rooms clean, put away laundry, entertain the baby etc. They also get a school house points bonus paid at the end of each term, usually around the £50-100 mark depending on behaviour.
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