Q: What should pocket money cover?

A: When you do decide on how much pocket money to give a child, be sure to clarify exactly what the sum is supposed to cover. Will it just be for treats or should it, for example, include bus fares, school outings, birthday presents?

It's probably a good idea to give your child enough not only to pay for sweets and other essential day-to-day requirements, but also to enable them to get into the habit of saving for DVDs, video games and other expensive purchases.

You also should clarify to your child (and more importantly to yourself) whether the pocket money is guaranteed and unconditional or if it's dependent on good behaviour. It's usually a mistake to link pocket money to school performance - if financial inducements could make us cleverer we'd all be professors.

For more information, go to the Pocket Money section.