Pocket Money Tales

When I was little, my mum would give my brother and I exactly the same amount on a monthly basis, on the first day of each month. Our pocket money wasn’t a lot, enough to buy sweets and chocolates. We were never told what to do with our money, it was our choice, but once it was gone, we would not be given any more until the beginning of the following month.

I would prefer to save my pocket money, I would treat myself to one little sweet, then put the rest away for a big purchase a few months later. On the other hand, my brother would run to the shop and buy himself chocolates, sweets and ice cream. He would come back home and enjoy them in front of me. How I wanted some of that ice cream, it looked so tasty, but I knew saving would be worth in the end. His monthly allowance would be spent in a couple of days while mine would stretch until the end of the month and part would be put away.

I still remember as if it was today, how great it felt when I made my first purchase out of my pocket money savings, it was a lipstick case with a mirror inside. It took me a few months to save enough for it, but it was priceless when I had enough money and my mum took me to the shop. I felt really happy with a great feeling of achievement, and from that day I learnt how powerful pocket money could be if I saved part of it.

Pocket money has changed a lot since I became a parent, little man gets his pocket money on a weekly basis, much more than I would get in a month, and he chooses to put straight away in his piggy bank. As we always have sweets and chocolates in the house, he doesn’t feel the need to buy treats with his pocket money. I asked him and he doesn’t know yet what he would like to spend it on, but for now he wants to save his pocket money.

Managing my monthly allowance during my childhood has helped me to look after my finances now that I am an adult, and I would like to pass it on to little man so he can carry this important skill through life. I have recently found out about Roosterbank, fun and educational website that helps families keep track of day-to-day pocket money, saving and spending. It also helps prepare children for the day when they take control of their own bank account preparing them for the future. Best of all, Roosterbank is virtual and totally free to join!

This post is an entry into the Tots100/Roosterbank Pocket Money Competition.