Internet as a source of information and guide for parents

"How much pocket money do we give to our child?
1. What you can afford.
2. What the pocket money is expected to cover.
3. The ‘going rate’ among other families in similar circumstances to yours. If your child has a lot less than the going rate she may feel hard done by and be tempted to steal. If she has a lot more it can cause resentment and jealousy amongst her friends. However at some stage, children need to learn that all families are different in how much money they have and how they decide it will be spent.
4. They can also learn that there will always be other people who have more money or more ‘things’ than them and many others who have less.
5. It helps children to hear from parents that lots of money does not always mean lots of happiness.
6. The amount of pocket money a child receives usually increases as the child gets older and takes more personal responsibility.

Reminders
1. Pocket money can be a valuable way of teaching your child responsibility.
2. Get an idea about the ‘going rate’ from friends’ parents and work out whether this would work in your family.
3. Make sure that you are consistent and reliable about ‘pay days’.
4. Work out with your child what the pocket money will cover. Include an amount for him to do whatever he chooses.
5. Allow your child to make some mistakes.
6. Encourage your child to save part of his pocket money each week.
7. Give approval or maybe a bonus for successful managing"

Quoted from:http://www.cyh.com/HealthTopics/HealthTopicDetails.aspx?p=114&np=122&id=1694