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What are different chores worth?
If you are considering a chores-based approach, it can be useful to have a rough idea of the going rates.
According to GoHenry, the highest-paid task is babysitting, for which parents pay an average rate of £5.39, followed by mowing the lawn at £3.46, and washing the car at £2.97. Taking the dog for a walk would earn a child £1.28, while washing the dishes comes in at just over £1.
Rooster Money puts its own values on chores, rating “cleaning the car” as the best-paid chore at £2.46, “helping with shopping” at just over £1 (£1.11), and vacuuming at just under £1 (96p).
One system you might want to think about is putting lower rates on daily chores, such as 20p for making the bed, or feeding the pets, and then higher rates for weekly tasks, such as £1 for tidying the bedroom.
Ms Durrant said: “When working out what chores are worth, a popular approach is to link the value to the time taken. So, for example, mowing the lawn would have a higher value than stacking the dishwasher.”
Others adapt this approach to suit their particular household.
Ms Gosling added: “I see basic chores as a part of family life – a team effort between us all. That said, we have slightly different rules for tasks beyond the daily chores. For example, when my eight-year-old offers to wash the car (with some help), we pay him £8 – an amount equivalent to going to the local car wash. I think this helps create an entrepreneurial spirit.”
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Should you attach a penalty system?
Some parents opt for a kind of “penalty system” where pocket money is reduced if chores aren’t completed.
Mr Daley said: “We give up to £4 a week to our two kids, aged seven and 11, but they have to earn that by doing chores and keeping their rooms tidy. They very rarely earn the full amount. We keep it fun, but we are also firm.”
If you’re unsure about withholding pocket money, Maddy Alexander-Grout, founder of the Mad About Money app, has found a system that works well for her family.
She said: “We all start each week with £5 of play money. The kids can “spend” it in the house. Say, for example, they want me to get a drink for them – they pay me to do it. If they don’t want to do one of their chores, I do it, but it will cost them.
“They can also earn extra money for going above and beyond, or for doing extra things I ask them to do. By Friday, they usually have around £3 left, which then gets switched for real money.”
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Should you pay in cash or into a bank account?
Cash use in Britain has been on the decline for some time and, as there are a number of children’s bank accounts and payment cards on the market, some parents opt to keep pocket money cashless, too.
Parents may find this more convenient if they seldom have cash on them, and it could be a more realistic introduction to how money works these days.
