Pocket money.

[Midnight]

Midnight, I was getting £1 a day diring the week, between 1981-85.

Not pocket money as such, it was dinner money, but as we used to play footy every dinner hour in our school, I used to save the £5 a week and go the match with it.

£1.40 on the Kop in them days, so always had some left over, but went hungry at dinner hour - one tea from my auntie and one from my mam made up for it though.

Does that sound Pythonesque?

Sounds like good living and good times mate. ????

 

[ScienceBoy]

https://www.gohenry.com/uk/

My wife and I are discussing this as for the cost of a credit card monthly fee you seem to get quite a bit.

Our children really need to learn the skills of managing money they can’t physically handle so this seems a good idea.

 

[Deleted member 21784]

https://www.gohenry.com/uk/

My wife and I are discussing this as for the cost of a credit card monthly fee you seem to get quite a bit.

Our children really need to learn the skills of managing money they can’t physically handle so this seems a good idea.

Such an important and underated skill.

Everyone when I got a credit card at 18 told me no don't only use debit etc etc as their parents had drummed it into them.. only problem was when they came to get credit for a phone or a car they had no credit history compared to my spend £100 Nd then pay it off

The new one to watch out for is klarna credit I believe

A credit card without the card .. .. doesn't really send statements out either

You are given option at tills to pay via your klarna . (Targets young girls especially) clothes are prime example .. this top for £3 per month adds to your credit .. then you can keep buying and buying for a little more a month without realising your a few £100 in debt

Swear I saw them on American golf a few times

Not something I'd use personally but it seems the modern catch for young adults

 

[ScienceBoy]

Not something I'd use personally but it seems the modern catch for young adults

Also no way am I putting my credit card on a kids game/tablet account, those stories of kids burning thousands on in app purchases can be solved by disassociating the spend from the adults accounts.

I hope these can be used on all those things so my kid has the skill of managing money right from the start.

If I can have an overview of the account to so we can chat about what was good and bad about spending then all the better.

 

[Deleted member 1740]

I used to get 10 Bob a day and if that wasn't enough then tough.

Now I've got kids I tend to be a bit soft on them. My eldest is 14 and she likes to meet with her friends and go through the shops etc.

She doesn't get pocket money as such but if she wants anything I usually top her revolut card up with £20 and make sure she's always got a few quid cash on her just incase she's stuck.

My lad is 11 but doesn't ask for anything at all. I take him the match with me that ends up costing a small fortune but wouldn't swap it for the world.

 

[GreiginFife]

Boy wonder here gets £5 a week reliant on him completing certain set chores each week (e.g. keep playroom tidy, help in the garden etc). He saves it for what he wants, currently saving for a Lego Technic 911 that he wants.
We agree with him that we will buy stuff he 'needs' but stuff he 'wants' he has to pony up for.

Helps him understand the value of need vs want.

 

[IanM]

£1 a week? I'm sure I got that at their age.

...I'm 56 now

 

[Rooter]

We did Go Henry for a while, I got annoyed with the fees. Now my older 2 are 11+ we have opened them accounts with Metro Bank. They have a current account which has a Maestro card and a savings account. Both link to apps on their smart phones. I can see their Savings accounts only from my app.

They cannot to electronic transfers, so cant be bullied into sending money, limits on the card daily and an overall transaction limit too.

Very impressed so far and ZERO FEE's!! Kids are happy, I am trying to instill in them they must put 10% of everything they earn into savings, wish I had done that from a young age... Eldest has saved up for a long time now and just bought herself an iPad Air at age 13.. Very proud of her!

 

[SwingsitlikeHogan]

No idea...and can't remember what we gave our two - but I do remember the delight when mine was increased from 6d to 1s (when we took in two students as lodgers and so my folks could afford a 100% increase). Even back then it bought diddly squat, but then we didn't look for or expect to be able to buy very much ourselves...

I guess if I was working out pocket money these days I'd think about what I'd expect my kids to be buying for themselves separate from what we would be providing them with or buying for them.

 

[IanM]

I clearly remember about 1978 or so, delivering the Surrey Daily Advertiser from Monday to Friday raked in £2 each week!

Schoolboy ticket at Aldershot 35p, programme 15p, half return on train from Guildford 30p ...the odd 20p got you a large chips from the chippy by the train station after the game.... I wasted other £1 on fishing tackle!!

I assume I am younger than SILH

 

[Smiffy]

I used to get 6d a week which then increased to a shilling. But I was instructed to buy a savings stamp (6d) to give me a sensible outlook as far as money was concerned.
Sadly, it didn't work
????

 

[Doon frae Troon]

£1 a week my two girls got more than that in the 1970's.
Both got Saturday jobs at 14/15 and they were self sufficient after that. [well apart from the £400 flute, sets of golf clubs and cars etc.etc]

 

[SwingsitlikeHogan]

I clearly remember about 1978 or so, delivering the Surrey Daily Advertiser from Monday to Friday raked in £2 each week!

Schoolboy ticket at Aldershot 35p, programme 15p, half return on train from Guildford 30p ...the odd 20p got you a large chips from the chippy by the train station after the game.... I wasted other £1 on fishing tackle!!

I assume I am younger than SILH

I think you assume correctly as you talk 'new money' - but maybe not that much younger as my 7-day a week paper round netted me a magnificent £2/week...and boy did my bag weigh a ton on Sundays. In fact it was too heavy for me to carry the distance I had to walk, so had to lash it to the carrier on the back of my bike (which was tricky) - or in the snow I'd use my sledge.

 

[IanM]

I am just about old enough to remember "Decimalisation." - My mum sent me to the till in the Co-Op in North Street in Guildford to pay for something so I could get the "shiny new coins" in the change! Even the Bronze, was shiny!

I think if you set a pocket money level. you should put it in the context of what you expect them to do with it. One mate of mine said to his lads, I am not giving you pocket money, but I will match what you earn!

 

[Rooter]

PMSL!! teach your kids to gamble! I like it!

Joking aside, I have taught my 11 and 13yr olds poker. they are getting quite good!

 

[SwingsitlikeHogan]

I clearly remember about 1978 or so, delivering the Surrey Daily Advertiser from Monday to Friday raked in £2 each week!

Schoolboy ticket at Aldershot 35p, programme 15p, half return on train from Guildford 30p ...the odd 20p got you a large chips from the chippy by the train station after the game.... I wasted other £1 on fishing tackle!!

I assume I am younger than SILH

if you did not think that Alexandra Bastedo was almost other-worldly and the most exotic and startling looking girl you’d ever seen, then you are indeed younger than I. Note that The Champions is currently being shown on Talking Pictures TV and - boy - is she stunning...?

That I have discovered that she was not ‘other-worldly’ but from Hove (though I would have never heard of Sussex never mind Hove) takes nothing away.

As it happens my 7 day/week morning paper round paid me £2/week. And the Sunday papers were...?

 

[IanM]

I remember her...but it was large posters of "Purdey," Debbie Harry and Chrissy Hynde on the wall of the common room at school