Pocket Money – What Do You Do?

Pocket money is one of those things which will creep up on us all before we know it. We’ve been tackling it early but keeping it simple.

Pocket money, oh joy. H isn’t even four yet and we’ve been doing it for a year or so now – last year we were one of the finalists in a money saving competition and over the year we’ve done lots of 5p tasks, putting the money into her moneybox as we go.

pocket money box

The tooth fairy paid a visit recently and bumped up the amount to a much higher one (okay, just £1 but in H terms that’s like a million pounds) – and we’ve not been as good at assigning 5p tasks as we should be.

Locally we’ve a shop, Calladoodles which I’m going to post a feature on soon – it’s a lovely shop with gorgeous handmade things on sale and we’re in there most weeks. They’ve just opened a mail order site and need to be checked out – I could spend so much in there. They stock Miffy things (we love Miffy in our house) as well as Cath Kidston and Orla Kiely… yum.

The last time we were in, H spotted a bracelet she liked so we decided we’d count her pennies and if she had enough we could spend them in there – and as of this morning she has enough. My little girl will have a little purse with her savings in, and will spend it on something she really wants – I’m a bit excited!

We’ve kept it simple as well, while this isn’t pocket money it won’t be long before she’s asking for some. So what is the right amount for an almost four year old starting school in just over a month? I’m thinking 50p a week with anything extra being things she’s earned (at 5p a time). I want her to have some money sense and ideally add the savings to her bank account – what do you do?

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