How much allowance should I give my child?

Picking a number for allowance can feel like a bigger decision than it is, because there's no price tag on it and every family seems to do it differently. You can pick an allowance by starting with $1 for each year of your child's age, paid every week, and then moving it up or down until it fits your family's budget. This post will show you how to choose a number you feel good about, so you can stop second-guessing it and start teaching.

How much allowance does Calm Money Kids suggest for each age?

Calm Money Kids suggests $1 for each year of age, paid every week on Family Money Day. That's our method and a starting point we chose because it's easy to remember, and it isn't a rule from research. It grows by $1 every birthday, so you never have to sit down and decide again, and your child can see that turning 8 means $8, which feels fair to them. You can see how the jars change through each stage in how to teach kids about money at every age, and how older kids take on more in how to teach a teenager about money.

The allowance then splits into four jars, using the split Calm Money Kids suggests. Grow gets 15 percent, Dream gets 25 percent, Spend gets 50 percent and Give gets 10 percent. From ages 4 to 10, the app rounds each jar to whole dollars so you never have to hunt for coins, and every jar gets at least $1.

Age	Weekly allowance	Grow	Dream	Spend	Give
4	$4	$1	$1	$1	$1
5	$5	$1	$1	$2	$1
6	$6	$1	$1	$3	$1
7	$7	$1	$2	$3	$1
8	$8	$1	$2	$4	$1
9	$9	$1	$2	$5	$1
10	$10	$2	$2	$5	$1

From age 11, the split uses exact percents and cents. An 11 year old's $11 becomes $1.65 for Grow, $2.75 for Dream, $5.50 for Spend and $1.10 for Give. That's on purpose, because doing the math with cents is part of what a tween is ready to learn. You can read more about why each jar gets its share in how to split allowance into jars.

Take a minute now to find your child's age in the table, because that number is your starting point.

Why does the amount matter less than you think?

The lesson comes from the money showing up every week and from your child making real choices with it, so the exact number isn't what does the teaching. A child who gets $5 every single week learns more than a child who gets $10 some weeks and nothing on others.

A steady amount gives your child something to plan around, because they can work out how many weeks a toy will take.

So if you're worried about picking the perfect number, you can let that go. Ask yourself a kinder question instead, which is whether you can pay this amount every week without stress.

What happens when there's no clear allowance number?

When there's no set amount, money comes out in bits and pieces, a few dollars at the store here and a treat at the gas station there. It adds up, and your child never sees where it went or gets to make a choice with it.

That costs you money you didn't plan to spend. It costs you energy too, because every trip to the store turns into a talk about whether they can have something.

It also costs your child the chance to practice, so they learn those lessons later, when the amounts are bigger and the mistakes cost more.

How do you adjust the allowance to fit your family's budget?

Start with the suggested amount and then look at it next to your real budget. A $7 weekly allowance comes to about $30 a month and $364 over a year, and seeing those totals helps you decide whether it fits.

If it's too much right now, lower it. You don't need to feel guilty about that, because a smaller allowance paid every week teaches the same habits as a bigger one. Your child still splits it, still waits for a goal and still makes choices.

If you'd like to go higher, that's fine too, as long as you can keep it steady. A higher amount can make sense when your child pays for more of their own things, which is a choice each family makes for itself.

Calm Money Kids lets you type your own amount when you set up your child, and you can change it later in Settings, where you can also switch between weekly and monthly. The app then splits whatever amount you choose across the four jars, so you don't have to work it out yourself.

What matters most is that the allowance is never tied to chores. It comes every week no matter what, and helping at home is a separate lesson. If you're wondering should I pay my kids for chores, the short answer in Calm Money Kids is no, and that post explains why.

What does choosing an allowance look like for a 7 year old?

Say your 7 year old has started asking for money every time you're out, and you've decided it's time for a real allowance.

You look at the table and see that the suggested amount is $7 a week. You check it against your budget and feel comfortable with about $30 a month.

On Family Money Day, you hand over $7 and your child puts $1 in Grow, $2 in Dream, $3 in Spend and $1 in Give.

The next time you're at the store and they ask for something, you can say, "Let's check your Spend jar when we get home."

Over the next few weeks, your child gets to practice waiting and choosing, because the money is theirs to plan with.

What are three things to try this week to set your child's allowance?

These three steps each take a few minutes, and together they'll give you a number you can stick with.

1. Find your child's age in the table above, and write down the weekly amount and what it adds up to each month.
2. Hold that monthly number up against your budget, and move it up or down until you can pay it every week without stress.
3. Pick your Family Money Day, and tell your child that their allowance will come that day every week.

Common questions about how much allowance to give a child

How much allowance should a 7 year old get?

Calm Money Kids suggests $7 a week for a 7 year old, which is $1 for each year of age. That's $1 for Grow, $2 for Dream, $3 for Spend and $1 for Give.

Is $1 for each year of age the right amount for every family?

It's a starting point, not a rule. Calm Money Kids suggests it because it's simple and grows with your child, and you can change the amount to fit your budget.

Can I give less than the suggested allowance?

Yes, you can. A smaller amount paid every week teaches the same habits, and you can change it in Settings at any time.

Should I take allowance away as a punishment?

In Calm Money Kids, no. The allowance comes every week no matter what, so your child can count on it and plan with it.

Choose an allowance you can keep paying every week

A good allowance starts with $1 for each year of age and then fits your real budget, and you're free to move it up or down. What teaches your child is the steady weekly rhythm and the choices they make with their four jars.

Calm Money Kids suggests the amount, splits it into the jars for you and reminds you when Family Money Day comes around.

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