A pocket money calculator by age and chores
How much pocket money should a child get? This pocket money calculator helps you set an allowance for each child and see what it adds up to over a month and a year. Choose an amount per year of age — a popular rule of thumb — or the same amount for everyone, add chores that earn a little extra, and split the money into save, spend and give pots.
Every amount is yours to set: the starting figures are examples, not a recommendation or an average. Use pounds, rupees, dollars or euros, add up to eight children, and copy the plan to share with the family or stick on the fridge next to a chore chart.
How to use the Pocket Money Calculator
- Choose the base amount: an amount per year of age each week, or the same for every child, and pick your currency.
- Enter each child’s name and age; tap Add a child for more.
- List the chores that earn extra, what each pays and how many times a week, and how much of the list usually gets done.
- Set the save, spend and give percentages and an optional savings goal.
- Read the weekly, monthly and yearly totals per child, then tap Copy plan.
Pocket Money Calculator features
Age-based or flat
Per-year-of-age amounts that rise automatically with each birthday, or one amount for all.
Chore bonuses
Paid chores with a times-a-week count and a “usually done” percentage for real life.
Save, spend, give
Each child’s money split into three pots, with weeks to reach a savings goal.
Monthly and yearly
Weekly amounts converted with 52 weeks a year, so a month is not just four weeks.
Several children
Up to eight children and twelve chores, with family totals.
How the pocket money is worked out
Weekly pocket money = base (amount per year of age × age, or the flat amount) + chore bonus (sum of each chore’s pay × times a week × the share usually done). Monthly = weekly × 52 ÷ 12, and yearly = weekly × 52. The save, spend and give amounts are the weekly total multiplied by each percentage, and the weeks to a goal are the goal divided by the weekly savings, rounded up.
Worked example: at £1 per year of age, a 7-year-old gets £7 and an 11-year-old £11. Making the bed every day at 20p, helping with the dishes three times at 50p and tidying the bedroom once for £1 adds £3.90 each. That is £10.90 and £14.90 a week — £25.80 for both, or £111.80 a month. Saving half, the younger child reaches a £50 goal in 10 weeks.
Choosing an amount that works
- Start with what the money is for: sweets and small toys only, or also bus fares, school snacks and phone top-ups. More responsibility usually means a bigger allowance.
- Agree a regular payday and stick to it — consistency teaches budgeting better than the exact amount.
- Keep some chores unpaid as part of family life, and pay only for extra jobs, if that matches your values.
- Raise the amount on birthdays: with the per-year-of-age rule it happens automatically.
- Let children make small mistakes with spend money; it is cheaper to learn at 8 than at 18.
Save, spend and give
Splitting pocket money into pots — a jar, an envelope or a children’s bank account each — makes saving visible. A common starting split is half to save, most of the rest to spend and a little to give to a cause the child chooses, but any split that adds up to 100% works. For bigger goals, the savings goal calculator adds interest and regular deposits; to build good routines, try the habit tracker.
Pocket Money Calculator FAQ
How much pocket money should a child get?
There is no right amount; it depends on your budget and what the money has to cover. A common rule of thumb is a set amount per year of age each week — enter the amount that suits you and the calculator does the rest.
How does the pocket money calculator work out a month?
It multiplies the weekly amount by 52 weeks and divides by 12 months, so a month is about 4.33 weeks.
Should pocket money be linked to chores?
Many families give a base amount and pay extra for chosen chores. The chores list lets you set what each pays and how often it is done.
Can I use it as an allowance calculator in dollars or rupees?
Yes. Choose $, £, ₹ or € — the amounts are formatted for that currency.
What is the save, spend, give split?
It divides each child’s weekly money into three pots. Change the percentages; they must add up to 100%.
Are the example amounts recommended?
No. They are only there to show how the calculator works — replace them with your own.