10 ways for kids to make pocket money

10 ways for kids to make pocket money

If your kids are looking to top up their pocket money, you might be thinking of things they can do around the house and have an age appropriate chore list for kids already.

 

Understanding how to earn money, look after it, and save it is a valuable skill to acquire at a younger age - and the earlier children pick up these skills, the better.

 

Teaching your kids the best ways of making their first ‘income’ will send the message that earning, saving and spending is healthy and important.

We’ve researched how kids can make some extra money pocket, so read on to find out more.

Requesting pocket money

Chances are, the conversation of pocket money will crop up at some point. Be ready for these discussions, know the benefits of pocket money for kids, and know your position on pocket money before the negotiations start. This means you’ll be ready to navigate the world of pocket money without it costing you a fortune.

 

Encourage your kids to think about what they are prepared to do around the house to earn pocket money. Let them spend a bit of time talking to friends or researching which chores are often delegated and how much is 'paid' for particular tasks. That way, they’ll have a good understanding of what they believe they can offer and how much they will earn for their hard work.

How much pocket money should you give?

If you're gearing up for the pocket money conversation, you might want to have an idea of what the average weekly amount of pocket money was for UK children in 2021.

  • Age 7: £3.52
  • Age 8: £3.75
  • Age 9: £4.12
  • Age 10: £4.58
  • Age 11: £5.34
  • Age 12: £6.49
  • Age 13: £8.09
  • Age 14: £9.70
  • Age 15: 11.34
  • Age 16: £13.32
  • Age 17: £14.52
  • Age 18: £14.79

Remember, these figures are just a guide. It’s not how much pocket you give that is important, but the fact that you give regular pocket money.  By giving a regular amount you’re teaching your kids to budget for the things they need and want. The skills you are teaching your kids remain the same regardless of how much they are given.

Earning money through chores

Children might offer to do chores around the house and have specific ideas about which ones they feel they can do. If your kids are ready to help out around the house, teaching them to complete tasks thoroughly means they’ll learn about the satisfaction of doing a job properly, and take pride in earning money. 

10 chores kids can do to earn pocket money

Picking up the hoover or the duster may not be that exciting. But earning their own money can be very exciting for kids.

1. Ironing

Older children, usually teens, may be able to do the ironing, though they may need a few lessons first. Agree on a price per number of garments or a set amount of pocket money in return for an agreed amount of time ironing.

2. Cooking meals

Older kids can offer to cook a meal once or twice a week. Agree on menus first. Cleaning up after everyone has eaten can be another task that they are paid for. Knowing how to cook is another important life skill, so by doing these things, kids are learning some really valuable life skills.

3. Helping out in the garden

Gardening is good exercise and can be lots of fun. Gardening enables children to learn about nature, the seasons and how things grow. Kids can help with the weeding, the pruning or the mowing. They might need some help learning how to mow the lawn properly, as there is a knack to making it look neat. 

4. Cleaning cars

Cleaning the car is a popular way of earning pocket money.

If your kids can wash your car, they could also earn money cleaning the neighbours’. Once they have learnt the art of car cleaning, they can offer the service to your neighbours. Car cleaning can be a profitable business.

5. Hoovering the house

Younger kids may be able to do light household chores. Hoovering the house is a task many adults would happily pay kids to do. Vacuuming could be an excellent way to earn extra pocket money regularly.

6. Clean the windows

Everyone loves clean windows. Perhaps start with mirrors, so young ones can learn how to create a smooth finish with no streaky marks. When they have perfected that job, the internal downstairs windows are the next step forward.

7. Taking the bins out

This may not be anyone's favourite job but, according to The GoHenry Youth Economy Report taking the bins out has a going rate of around £0.76. Perhaps you could delegate responsibility for recycling too.

8. Sweeping

Getting the brush out and sweeping around the house gets your children outside and into the fresh air. Younger kids could offer to sweep up grass cuttings and weeds when a parent has been gardening.

9. Walk the dogs

Pets need a lot of exercise, and dogs ideally like to get out up to three times a day. Walking the family dog teaches children about caring for and taking responsibility for the welfare of their pets

10. Watering plants

Helping to look after plants could be helpful. Show your kids how to water each plant before you start. Too much water and plants may die, not enough and they will go the same way – it's important to give the plant just what it needs.

 

If interested, you can find more about the benefits of giving kids chores.

Pay pocket money through GoHenry

If your kids are showing signs they are ready for a prepaid debit card, make it easy for them to manage their pocket money with a GoHenry account — if they’re old enough to be earning their own cash, they’re old enough to have their own prepaid debit card.

 

One of the great things about a prepaid debit card app like GoHenry is that you and your kids know exactly where their money is. On birthdays or special occasions, parents, neighbours and friends can also pay funds into their account using Giftlinks.

 

Understanding money when you're young helps you learn about managing it when you're older. Earning pocket money is a rewarding way for children to help out at home and of course, gain some financial independence. The act of earning, saving and spending healthily is a habit worth acquiring early on in life. Pocket money is a valuable way of teaching this.

 

 

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Written by GoHenry Published Jun 1, 2021 ● 5 min read