Kids & Money
How Much Pocket Money Should Kids Get?
Choosing an amount that actually teaches something
There is no universal weekly amount that is right for every child. A better starting point is deciding what the money is meant to teach and what you expect the child to pay for.
Start with purpose, not a magic number
Pocket money can be practice money, spending money, savings money or a mixture. Decide what role it plays before deciding the amount.
Consider what the child must cover
A child who pays for occasional treats needs a different amount from a teenager expected to cover lunches, entertainment or some clothing. The amount only makes sense alongside the responsibilities attached to it.
Keep the stakes appropriate
Enough money to make choices is useful. So much that every choice is easy removes the trade-offs. The aim is to create manageable decisions, not financial stress.
Consistency helps
A predictable amount makes planning and saving easier. If the amount changes constantly based on negotiation, children have less opportunity to practise managing a known income.
Allow room to earn more
A base allowance can sit alongside extra earning opportunities. This creates a useful distinction between money that arrives regularly and money that requires additional effort.
Review as children grow
The system should evolve. As children become older and take responsibility for more expenses, the amount and expectations can change together.
Put it into practice
Smarty Bucks
Smarty Bucks helps families turn everyday money decisions into practical learning — with chores and responsibilities, earnings, savings goals, spending, rewards, penalties, sibling transfers and more.
Smart Money for Smart Families.
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