Finance Pocketmoney
Birth Dates Schools
Martha Harlan 12, The Green School, Isleworth, £10/mth. Alfi e, 9, £2p/wk and George, 7, £0, Notting Hill Prep, London
Alice Harlan says When the children reach seven, we open an account and start a direct debit. We haven’t got around to it yet with George but he will be receiving it soon. There are no set rules regarding tasks around the house. Recently Martha went over on her phone contract by £100, we took the money out of her savings. But now I am actually wondering whether it made her think about it enough, perhaps it was an easy way out. Now we have upgraded her contract to have unlimited texts and take the extra out of her pocket money. I wouldn’t encourage part-time jobs when they are
older, school work is much more important at this time - they have the rest of their lives to work! Alfi e has been paid on eff ort grades from his school report, which enables him to “earn” money in a diff erent way.
Andrew Grant-Suttie, 14, and David, 12, Loretto School, East Lothian, £100/mth each
Sarah Grant-Suttie, farmer, says Although they are diff erent ages, Andrew and David both get an allowance of £100 per month which goes into a debit account: easy and safe. They pay for everything we don’t do as a family, from transport into Edinburgh to saving up for their favourite Abercrombie & Fitch clothing. Andrew has an iPhone on contract, which we luckily had insured, as there was an incident with a hot tub at a party! Having a contract is a good way to help him manage his own minutes and texts. I don’t know what their friends get but there is a defi nite push to buy the right brands. And they can aff ord to buy their parents birthday presents! They are out 12 hours a day in term time so can’t get involved with housework but when they are old enough they can help out on the farm! Money didn’t bother them as much when they were younger, their father used to often forget the £10 a week. But they were still happy as it meant they were receiving one lump sum!
he £
Isabella Baillie, 12, and Jamie, 10, Belhaven Hill School, East Lothian, India, 6, £various...
Gina Baillie, Inverness-shire landowner, says We don’t have set pocket money. It’s fl exible. I think it’s important for the children to ask for money if they need something specifi c, and so that they don’t feel they are losing out if their friends are getting much more. Amounts given tend to be from £5-£10 and go on anything from sweets to holiday money. Once I hand it over, it’s their’s to do with however they wish. They are not ready for large allowances yet. I heard that children at another boarding school spent all of their £80 per month allowance on café lattes for themselves and their friends!
Issy is given £50 at the start of term to buy some jumpers and she came back with a mini-skirt and very small t-shirts! We trust her with our iTunes password but I did have to have a little chat with India about how iTunes is not free!
www.fi rstelevenmagazine.co.uk Michaelmas 2011 FirstEleven 55
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84