Pocket money issues

Should you get children to do things around the house for pocket money???

What do we think as parents, now I have been thinking hard about this since discussing with a friend about it. she told me my pocket money system was difficult and long winded and may confuse the kids, which in turn may be why its not working as a incentive.
heres my pocket money system:

Pocket money – £1 per week + 20p per year of age 10p extra for every gold star, they get for completing a house hold task they have been set that month (pocket money will be giving on weekend Aimee and Lucy are home)

After a lot of thought I agree it is long winded, confusing and maybe a little bit on the stingy side.... specially for children age between 3 and 9.

We also discussed as to what I have on the gold star list for them to do, she stated things like keeping their bedrooms clean shouldn't be rewarded it should just be something they do.

So I went a head and researched pocket money, I found a great article on Netmums.com
here it is if you would like to take a look:
http://www.netmums.com/lifestyle/money-and-debt/pocket-money-making-it-work-for-your-family

 

I found loads of good points that I completely agree with.

1. A good pocket money system is a win-win. They learn household skills which they will need later on in life, they also learn money has to be earned, not hand to them (lets make sure our children don't become part of the money for nothing generation we have going on now) and in turn it teaches them that money has value.
2. Don't use pocket money as a bride for things that they should be doing (my friend makes some very good points, doesn't she.. lol)
3. Don't use the label CHORES it gives them the wrong impression and complicates things.. It makes it sound like something they don't want to be doing, we don't want to give them this impression.
4. When they have spent it. it's gone. don't top it up because they get upset... once again this will send the wrong impression about the value of money.
5. Decide what is essential (the things we will buy) and what are the non-essentials (the things they want, so they can buy with their pocket money.
6. Try not to interfere when they are deciding what to buy, but discuss what the difference is between instant gratification and long time enjoyment.

Yer not even we now how it works....







 

A system I have come up which is simple is they get 1 house hold task a day if at the end of the month all is done they will receive £20 for the next month, but once they spent It, that's it they have to wait till the next month..

char xox