pocket money and the cheap mother i am

For the Standard Chartered Dream Account, you need to have a minimum balance of HK$10,000. This might be good when my kid had saved up to HK$10K himself, then I might consider transferring him over.

I want to start him out with 'Zero' on the passbook, so that he could see his account grow from the money he puts in himself. Anyway, while walking around after I left SCB, I saw Bank of China and figured I'd just ask. They do have savings accts for kids and they do not have a minimum and no monthly charges unless the amount goes over HK$5K. The only 'pain' with this account is that whenever you need to make a deposit, you'd have to queue up for quite a bit. That said, my son didn't mind so much and he was very proud as he handed over his money to the teller. When he got his passbook back, he kept on looking at his passbook to see 'how much' he had... :)
 
Cheap mom me too !!!!!
My kids even have to buy all their electronic games ,i touch,filling up octopus cards ,any extra fancy shoes, clips,cutex etc etc out of their own pocket money ....they get only $300p.month
 
I give my children 1000 HK$ a month and buy them everything they want .
Do you think that is too much ?
 
according to me its way too much , so when do they spend from their own pocket money !!!!They have to learn that money has to be hard earned it doesnt come easy ,also I teach them that overnight you are not getting too much money .....it increases with study , qualifications and hard work and hard work
 
Moo, I'm confident we all want the best for our children.

I feel $1000 is a bit much. A couple hundred should be more than enough for our 6 yr old.
 
what does a 12 year old need that kind of money for? especially if you are buying everything for them?

is this a wind-up? wanting what is best for your child does not mean giving them everything their hearts desire. they need to learn the value of hard-work and how to earn what they want. it is the children that are given everything that grow up with a sense of entitlement. they believe they deserve millions of dollars of bonuses for not doing anything to earn it.

my son, 4 years old, has a piggy bank. he goes around the house collecting all the coins he can find and deposits them into his bank. he's also good about finding coins on the ground when out and about, he collects those, too.

he uses the money he has saved for when we go on trips. that way, he can buy something when he is on holiday and it is his choice, so long as he has enough.
 
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