Hi there lovely, let’s talk about kids and money, and in particular pocket money. I get asked a LOT about this, so here goes: POCKET MONEY – WHAT I DO I give my 13 year old, $10 a week She has a bunch of chores she needs to do around the house I don’t tie the chores into the pocket money The chores are part of being in our family The reason I’ve done it this way is that I don’t want her putting her hand out every time she does a chore – I want her to understand that being part of a family means we all pitch in to help. I don’t get paid to do the washing, cooking and ironing, so why should she? Harsh? I hope not! EXTRA CHORES FOR EXTRA DOSH I do however give her extra money if she does over and above her usual things like packing/unpacking the dishwasher, feeding our pets, help with the washing – this is more ad hoc and usually based around something big she’s saving for – like at the moment she’s saving for some noise-cancelling headphones for our upcoming trip to Bali. She does things like wash my car and weeding the garden and may get another $5 – $10 a week. WHAT ABOUT TEENAGERS If you have a teenager at home then it’s time to (if you haven’t already), teach them things like: The difference between a debit card and a credit card Check their payslips to ensure they’ve been paid correctly Help them create and manage a budget Get them saving some of their income – every.single.pay.check How to shop smart – it isn’t always about the cheapest item but value for money that’s important So, that’s how I treat pocket money – what about you? What does your family do? Do you pay your kids pocket money? Do they have to do chores? – I’d love to know. Big hugs Kaia xo Click here to join my 52 Week Money Challenge and join hundreds of other women who’ve committed to saving small amounts every.single.week for the year!