Allowance calculator for kids by age
A starting point, not a rule: pick an amount per year of age, decide how much is earned with chores, and split it into save, spend and give.
Allowance at age 10 (USD)
| Per week | $10.00 |
|---|---|
| Per month (about) | $43.33 |
| Per year | $520.00 |
| Paid no matter what | $5.00 / week |
| Earned with chores | $5.00 / week |
| Save, spend, give (%) | Per week |
|---|---|
| Save (30 %) | $3.00 |
| Spend (60 %) | $6.00 |
| Give (10 %) | $1.00 |
Allowance by age, from 5 to 15
At $1.00 per year of age, per week (USD). Change the amount above and press Calculate to update the table.
| Age | Per week | Per month (about) | Per year |
|---|---|---|---|
| 5 | $5.00 | $21.67 | $260.00 |
| 6 | $6.00 | $26.00 | $312.00 |
| 7 | $7.00 | $30.33 | $364.00 |
| 8 | $8.00 | $34.67 | $416.00 |
| 9 | $9.00 | $39.00 | $468.00 |
| 10 | $10.00 | $43.33 | $520.00 |
| 11 | $11.00 | $47.67 | $572.00 |
| 12 | $12.00 | $52.00 | $624.00 |
| 13 | $13.00 | $56.33 | $676.00 |
| 14 | $14.00 | $60.67 | $728.00 |
| 15 | $15.00 | $65.00 | $780.00 |
“About $1 per year of age, per week” is a common rule of thumb, not a recommendation from any study. What fits depends on what the money is meant to cover in your family.
Print a chore chart for your child's age
In Australia? Try the pocket money calculator
How to use this calculator
Choose your child's age, the amount per year of age and your currency, then decide how much of the allowance is earned with chores and how it is split between saving, spending and giving. Press Calculate to see the weekly, monthly and yearly amounts. Nothing is stored: the numbers are worked out from the page address, so you can bookmark a result or change one value and try again.
How much allowance by age?
The calculator starts from a common rule of thumb: about one dollar per year of age, per week. At that rate an 8-year-old gets $8 a week, about $34.67 a month and $416 a year, and the amount goes up by a dollar each birthday. You can set any amount per year from 0 to 20 to suit your budget and what the allowance has to pay for. The monthly figure is the weekly amount times 52, divided by 12.
Base amount and chore money
Families link money and chores in different ways, so the calculator lets you choose. At 0% the whole amount is paid every week and chores are simply part of family life; at 100% every dollar is earned with jobs. In between, part is paid no matter what and the rest depends on chores. With $8 a week and 50%, $4 is paid every week and $4 is earned by doing the agreed chores.
Save, spend and give
The last step splits the weekly amount three ways. The starting split is 30% to save, 60% to spend and 10% to give, and the three numbers must add up to 100. On $8 a week that is $2.40 saved, $4.80 to spend and $0.80 to give. Three jars or envelopes, one for each part, let children see each part grow; change the percentages to whatever fits your family.
Tips for making it work
- Pay on the same day each week. A regular payday makes the money predictable and teaches waiting: if something costs three weeks of spending money, your child can count down to it. Paying late or skipping weeks makes it harder for a child to plan.
- Agree on what the money covers. Decide together whether it pays for treats, toys, outings with friends or app purchases. The same amount means very different things depending on what it has to cover, which is why the rule of thumb is only a starting point.
- Review it once a year. A birthday is a natural moment to raise the amount, add a chore or move more into savings. If the money keeps running out or piling up unused, adjust the amount or what it covers rather than stepping in with extra cash.
How we calculated this
Per week is the amount per year of age times your child's age. Per month is the weekly amount times 52, divided by 12, so it is an average over the year. Per year is the weekly amount times 52. The $1 starting point is a common rule of thumb, not a figure taken from the sources below. They speak in general terms: what children can understand about money at different ages, and choosing an amount that suits your child's age, then raising it as they grow.
Sources
- Teaching children about money — Financial Consumer Agency of Canada
- Money as You Grow: Young children — Consumer Financial Protection Bureau
- Money as You Grow: Teens and young adults — Consumer Financial Protection Bureau