Kids Allowance Calculator - How Much Should You Give?

Find the Right Allowance for Your Child

Deciding how much allowance to give your child can be tricky. Should it be based on age? Tied to chores? Our free allowance calculator helps you find the right amount for your family.

Why Give an Allowance?

• Financial literacy: Kids learn to manage money through real experience
• Responsibility: Regular allowance teaches budgeting and delayed gratification
• Independence: Children make their own spending decisions and learn from them
• Work ethic: Chore-based allowance connects effort to reward

Three Approaches to Allowance

Age-Based: A simple rule like "$1 per year of age" gives kids a predictable income to manage. This approach is best for teaching basic money management.

Chore-Based: Paying per chore completed ties money directly to work. This teaches that money is earned through effort.

Hybrid: Combine a base allowance with bonus earnings from chores. This provides stability while rewarding extra effort.

How to Use This Calculator

1. Enter your child's age
2. Choose your preferred allowance approach
3. Adjust the rates to fit your budget
4. Get a personalized recommendation with national comparisons

Our calculator also suggests age-appropriate savings rates to help your child build healthy money habits.