I have never felt comfortable about children receiving pocket money. My children are three and six. Perhaps I'll change my mind as my children get older but right now it's not for us.
I support and am interested in children working and fund-raising if this is for an event (holidays, show, school fair) or for charity. Not so long ago a friend's children held a lemonade stall and gave the funds to the Yellow Food Rescue Van. They delivered the money in person and I'm sure it was a special experience for them. Caspar recently had a business idea and I will share this soon (it's not something that will progress but it was fun to discuss).
Caspar is particularly aware of his environment and I believe regularly saving and/or donating would become a concern for him. We donate as a family and sometimes the children are aware of this but we never want it be seen as something the children have responsibility for. This year Caspar has asked for two things for himself - the board game Battleships and a Loom Band Kit. Both of which we were able to talk to him about and purchase for him. Would he have wanted more if he had more money? There are so many other really valuable ways to learn about money I feel pocket money would be an unnecessarily burden.
Far above Otis takes $5 to the shops which is just enough for our favourite bread. Both of my children love food shopping. Often I will give Caspar money and stay at a distance while he orders and purchases from a stall at the market or at a shop. He learns grace and courtesy as well as the cost of the product.
More recently we have been working with Caspar on the fundamentals of currency. He loves playing shop (I totally took this idea from his classroom). The images are cut from brochures and laminated. Here we are using replica money.
I am the customer and Caspar writes down and adds up the cost of my products (in this case strawberries and potatoes). Some handwriting practice and addition. But also Caspar is learning about rounding up and the value of our currency. He needs help but we get there with the change.
Caspar and Otis often play this shop game together which I love, their counting is not accurate but the game moves quickly and they have so much fun. I feel there is some indirect learning there.
We also play bank where one person comes to make a withdrawal and the other person needs to count the money out. Swapping roles in really important and adds to the fun. For Caspar this only works while it is a game (and FUN!).
There are some Montessori printables for matching currency in US dollars online. While it would be really easy to make our own we use this Beat the Kangaroo Game. Here we are not using the game as intended (it's actually a bingo style game), Caspar is using his coins and matching to the equal value. Caspar and I race each other to see who can fill their board first.
As we are currently in Canberra we also have the privilege of regularly visiting the Royal Australian Mint where you can not only learn about the history of our currency but also see coins being made and stamp our own coins.
Please feel free to share your pocket money experiences. I am sure it works well for many families.