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How much allowance should kids get?

There’s no single right amount. A good allowance is one your family can keep paying, and one that gives your child enough to make real choices. These five steps will help you find yours.

1. Decide what allowance is for

Start with the reason. An allowance meant to teach saving can look very different from one that covers a child’s own snacks and outings. Pick one or two goals, such as:

• Practicing small spending choices
• Saving up for something they want
• Setting a little aside to give to others

2. List what your child will pay for

This step does most of the work. Write down what will now come out of their money and what you’ll keep paying for. Be specific: small toys, treats, game purchases, or gifts for friends. The longer the list, the more the allowance may need to cover.

3. Pick an amount you can keep up

Look at that list and your own budget, then choose an amount you can pay every time without stress. A smaller amount that always arrives teaches more than a bigger one that keeps getting skipped. It’s also easier to raise an allowance later than to lower it.

4. Choose a schedule

Weekly works well for younger kids, because the next payment never feels too far away. Older kids can try biweekly or monthly, which gives them practice making money last. Pick the same day each time so it’s easy to remember.

5. Try it for a month, then adjust

After a month, ask your child how it went. If the money always runs out in a day, that may be a useful lesson rather than a reason to change anything. If it can’t cover what you agreed on, adjust the amount or the list.

Should allowance change with age?

Many families raise it as kids get older and take on more of their own expenses. A birthday is an easy time to review it. Siblings don’t need to get the same amount if they’re paying for different things.

Should allowance depend on chores?

Families handle this in different ways, and all of them can work:

• Paid per chore: kids earn money for each job they finish.
• Set allowance: kids get a regular amount, and chores are simply part of helping at home.
• A mix: kids get a small set amount, and can earn more with extra jobs.

If chores are part of your plan, our free printable chore chart can help you keep track.