Pocket money: how much do you give?

A THIRD of parents think their children have no respect for money, and nearly one in 10 think they are materialistic, according to a new survey from coin counting service Coinstar. The UK’s average child gets just under £5 a week pocket money, and nearly half of parents say their children blow it all on sweets. Reporter Marina Berry asked some local parents how they handed out pocket money.

Susie Rogers of Friezland pays a £50 monthly allowance straight into her teenage daughter’s bank account.

And that means 17-year-old Danielle can follow her love of netball, which takes up most weekends and some evenings for training.

“I have no idea what other parents give their children, but I do it because Danielle is unable to get a job because of her netball commitments,” said Susie.

She feels it is important for her daughter to be able to follow her hobby, and said Danielle spends her allowance responsibly.

She believes having an allowance helps her daughter respect the value of money, and said: “It pays for her clothes and cosmetics.”

Grasscroft grandmother Susan Meek said her grandsons, Andrew (11) and David Kershaw (9) each get around £3 a week to spend as they like.

“They aren’t actually given the money, but when they go out they know how much they have to spend,” she said.

The boys live with their parents in Uppermill, and Mrs Meek said: “If I give them money they know they have it to spend on what they want.”

She added: “David saves up for Nintendo games, but other than that they both buy sweets and cheap toys.”

Lisa and Paul Lester-Smith of Sherbrook Avenue, Uppermill, don’t hand out pocket money to their children, Gabrielle (5) and Francesca (21/2).

Lisa said: “Gabrielle doesn’t get anything, and it doesn’t occur to her to ask for money, although she does get 30p a day to go the healthy snack bar at school. We buy things for her within reason, or if she needs it, but we haven’t had the conversation with her yet about money.

“She will ask if she can have this or that, and we decide at the time if she can have it. If it was just after Christmas like now, we point out that she has already had such a lot.”

Paul added: “If the children get any money given them we bank it, like my parents did for me when I was a child.”

Mother-of-two Sara Brocklesby, of Greenfield, doesn’t give her 10-year-old daughter Grace pocket money, but pays for her to go dancing.

“She doesn’t have much free time because she dances four times a week, but I do sometimes give her £1 to go to the shop,” said Sara. “If she wants money for something special, like buying Christmas presents or for holidays she does jobs round the house to earn it.”

Grace’s 16-year-old brother, Joe, gets £10-a-week pocket money, and he saves for things he wants.

He spends the rest on going out with his friends, said Sara, adding: “He never thinks it’s enough, some of his friends get a lot more — some get £30 a week.”

Mossley father Steve Pickard said his children, Jessica (5) and Emily (7) were too young to get pocket money.

“We just buy them what they want, but they are restricted to having something once a week,” he said.

“They will possibly get pocket money when they are older and start to ask for some. It gives them a bit of independence and helps them understand the value of money.”

Uppermill optician Iain Johnston sets his two children to work for their pocket money.

His eldest daughter Lois (13) gets £20 for helping out in her dad’s office and Niamh (12) helps around the house and gets between £5 and £10.

“They often raid my pockets for change for their ‘handbag fund’ too,” he laughed.

The youngsters spend their money on CDs, clothes, cinema tickets, sweets and magazines, and Iain believes having their own bank account helps young people focus on the value of money.

Waterhead mother Liz Brown gives her seven-year-old son, Nat, £5 a week pocket money.

“He spends it on whatever he wants,” she said. “He likes Match Attax football cards and toys.”