Pocket money for kids: how much, when to start, how to pay it
Pocket money isn't a reward for existing. It's a teaching tool. Small amounts let a child practise deciding, waiting, saving — and making mistakes while those mistakes still cost a few euros instead of a few thousand.
When to start
Most children are ready around age six, when they understand that money is limited and buys things. Starting earlier rarely helps; starting after ten means the first real financial decisions happen with bigger sums.
The rhythm matters more than the exact age. Younger kids need a weekly cycle — a month is too abstract. From about eleven, monthly pocket money teaches longer-horizon planning.
How much to give by age
A simple rule of thumb: roughly €0.50 per year of age, per week. Always adjust it to what the child is actually expected to pay for themselves.
- Ages 6–8: €3–4 per week — treats, small things, first savings
- Ages 9–11: €5–7 per week — gifts for friends, toys, outings
- Ages 12–14: €30–50 per month — cinema, games, some clothing
- Ages 15–18: €60–120 per month — transport, phone, most personal spending
Should pocket money be tied to chores?
A hybrid model works best. A base amount is unconditional — the child is part of the family and is learning to manage money. An additional amount is earned through specific tasks beyond normal responsibilities.
Normal duties (tidying their room, clearing their plate) aren't paid. Tasks that an adult would otherwise do — vacuuming the flat, washing the car, watching a younger sibling — are. The child sees a direct link between work and money without demanding payment for every small thing.
Three buckets: spend, save, give
Split every payout into three parts — for example 50% to spend, 40% toward a goal, 10% to give. Saving then feels like a normal part of money rather than a punishment.
The goal has to be concrete and visible. "Saving for €79 headphones" works. "Saving just in case" doesn't.
The most common parent mistakes
Irregularity hurts more than a small amount. If payday slips or you forget, the child can't learn to plan. It's equally damaging to advance money or top up a purchase they haven't saved for — that makes the whole system meaningless.
The last mistake is silence. When a child blows the whole week's money in two days, let them feel the empty week. It's the cheapest financial lesson they'll ever get.
FAQ
- Should pocket money be cut as a punishment?
- No. It's a teaching tool, not leverage. Used as punishment, the child stops thinking about managing money and starts thinking about your reaction.
- What if my child saves up for something I don't approve of?
- Parents keep a veto. In Amos.Kids the child proposes the goal and the parent approves it — the child learns to argue their case, the parent stays in control.