Chapter 01
How much allowance should you give your child?
There's no official amount or norm to follow: the right figure depends on your family budget, your child's age, and what the allowance is meant to cover. A simple calculation method helps land on a consistent number rather than an arbitrary one.
Why there's no single 'right' amount
Searching for a consensus amount often leads to comparing your situation with other families, which doesn't help much: budgets, habits, and what allowance is supposed to cover vary widely from one household to another.
What matters more than the exact figure is consistency between the amount given and what it's meant to fund: small treats only, or also everyday spending like snacks or outings.
A simple method to set an amount
Start by listing what the allowance should cover: small purchases, outings, gifts among friends. Add up a rough monthly figure for these, based on what you already observe.
Then adjust that amount to your real family budget. An amount you can sustain every month without thinking about it is more useful than a higher but irregular one.
- List the expenses the allowance should cover.
- Estimate a monthly amount that matches those expenses.
- Check that the amount is sustainable for the family budget long term.
Use benchmarks as a guide, not a rule
Some families use a simple benchmark, like an amount that increases slightly with each year of age. This isn't a statistic or an obligation, just a practical way to adjust the sum without recalculating it constantly.
This kind of benchmark works well because it's predictable for the child and easy for parents to adjust, not because it reflects an external norm to follow.
Let the amount evolve over time
The amount can change as a child's responsibilities grow, for example when they start covering some expenses that parents used to pay directly.
Discuss changes with your child rather than imposing them: this reinforces the idea that allowance is tied to responsibilities, not just to a growing age.
Frequently asked questions
- Is there a recommended amount by age?
- No, there's no official amount. Some families use a benchmark that increases with age, but it's a practical convention, not a norm to follow.
- Should I give the same amount to all my kids?
- Not necessarily at the same age: what matters is consistency with what each child needs to cover, not strict equality of amounts at a given moment.
- What if my child thinks their allowance isn't enough?
- That's a good opening for a conversation: either the amount gets adjusted, or it's a chance to explain the limits of the family budget.
Compare Lykha Pocket plans to support your child's allowance day to day.
See the plansBack to the chapter · Ages 6-10 — discovering money
Read next
- At what age should you start giving your child allowance?How to know if your child is ready for allowance, without relying on age alone.
- How do I teach my teen to manage their own money?How to help a teenager move from pocket gifts to a real budget: a sample first week, simple rules, and steady progress.
- What age should you start talking about money with your child?Age benchmarks (6, 11, 16) for introducing money gradually, without rushing or waiting until the teen years.
- How do you explain the value of money to a child?Help a 6 to 10-year-old understand what money is really worth, beyond the price tag on an item.
- How do you teach a child to put money aside?A simple method to introduce saving to a 6 to 10-year-old, with a visible, reachable goal.
- How do you explain the difference between a need and a want?A hands-on method to help a 6 to 10-year-old tell needs from wants, using real situations.