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Tuesday, 07 June 2005

Comments

OLS

Well, I don't have kids, but if I did, I'd use my parents system for pocket money.

From about age 8 on, we had a "bank" system. We both (my brother and I - he is nearly 3 years older than me)got the same amount of base-rate pocket money, but we could do chores to augment that. Out of our pocket money, we had to pay for any of the fun stuff that we wanted to do - movies, skating, shopping etc. And also birthday and Christmas presents. We also got fined for bad behaviour.

Our base-rate pocket money was pretty low - $2 per week when our friends were getting $5 (this was back in the 80s, so I think that $10 would be equivalent now), but we were highly paid for the chores we volunteered for ($2 for washing each car, $5 for mowing the lawn, $5 for clearing up after dinner each night), which meant that we ended up with an equivalent amount of money as our mates or even more.

We were also given a $1 per week clothing allowance (probably $5 in today's terms), which we couldn't lose from fines, but which could only be used for clothes. Our parents bought our school uniforms, but that was it. Any other clothes (trendy clothes) had to come out of the clothing allowance.

We didn't get our money in cash. This is where the "bank" part of it came in. We each had a ledger up on the fridge and our weekly allowance and chore payments were added on when they were payable, and our fines and expenditure were removed when they happened.

It wasn't a bad little system. Both of us learnt to manage our money and our parents soon realised that hitting us in the back pocket for bad behaviour was worse than any other punishment they could devise, since it effectively stopped us from being able to do anything!

Anyway, I haven't heard of anyone else who grew up with quite the same system. It certainly was a good way of linking pocket money with responsibility! ;o)

- OLS

David

Wow, that's complicated. Only our oldest son (9) gets pocket money at the moment. We try to foster responsibility in a pretty simple way: he has to ask for it on Saturday. If he forgets, no pocket money. I haven't been asked for weeks...

esmerelda

I used a basic version of OLS's childhood system with my two girls - base rate for weekly money, extra payments for extra chores. And if they wanted to purchase something special they had to save the money for it. Extra special purchase requests "you want a pair of shoes that costs how much???!!!" were usually resolved by the "if you save half, I'll match your savings" strategy. It seemed to work, they got what they wanted and I had a clean bathroom all of the time.

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