How Much Allowance Should I Give My Kid? – Bank of Parents
No one agrees on how much allowance to give. Ask three parents and you’ll hear three different numbers. Most families don’t talk about it openly, which means you’re either guessing or going by what you remember from your own childhood.
The specific amount matters less than the consistency.
What most families actually give
A rule of thumb that’s been around for decades: $1 per year of age, per week. A 7-year-old gets $7, a 10-year-old gets $10.
It’s a starting point, not a target. In practice, most families land somewhere in these ranges:
- Ages 5-7: $2–5/week
- Ages 8-10: $5–8/week
- Ages 11-13: $8–15/week
- Ages 14+: $15–25/week
Local costs vary. What $5 buys a 9-year-old in a small town is different from what it buys in a city. Adjust accordingly.
What the amount should actually cover
The purpose of allowance is practice: giving kids real decisions to make with real stakes. Too little and there’s nothing to decide. Too much and nothing ever runs out.
A useful frame: allowance should cover small treats and personal spending, like a toy they want, a snack at the store, or a download for a game. Keep it separate from basics like clothes, school supplies, and activities. Those come from you regardless. Bigger wants, a console, a bike, a more expensive toy, become savings goals they work toward.
This way, every allowance decision is meaningful without your kid going without things they need.
When the amount stops mattering
A $10 allowance paid every week teaches more than a $20 allowance paid whenever you remember. Irregular allowance defeats the purpose: you can’t practice managing a budget you’re not reliably paid.
Same goes for a lack of records. If the balance lives in your head, it blurs. A few weeks of guessing and the whole thing quietly stops.
Adjusting over time
Revisit the amount once a year, not when your kid asks. Waiting for your kid to ask puts you in a negotiation position. Think about whether the amount still covers the kinds of decisions you want them practicing. Older kids need more to practice proportionally larger decisions. What worked at 8 won’t be enough at 12.
The goal isn’t to give them more money. It’s to make sure the amount is large enough to require real thinking.
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