How much pocket money to give to your child?

Pocket money must be carefully tailored to the wishes and needs of your child. You should not try to spoil them by giving too much, but they should be given an amount that is appropriate for their age. Giving your child pocket money teaches them the value of money and how to handle it. Using money wisely is simple, but it must be learned well. Your child needs to learn that they can spend the money immediately, but if they want to buy something expensive, they have to save for it. Even when they are adults, they must apply the same principle, spend now or reserve. Pocket money also teaches children to make them aware of how much things cost. It is better to give young people who insist on wearing designer clothes a clothing allowance. This way you can show them the financial consequences of the expensive clothing.

From what age can I give pocket money?

Nibud recommends giving pocket money from the age of 6. This is not only wise to introduce them to the uses and pitfalls of money, but they should also learn how money works. What coins are there and how should they be calculated? As a parent, you must initially clarify what the intention is with the money. What do they have to pay themselves and what do you pay as a parent? You would be wise to be consistent in this. For example, you can agree that they can spend part on sweets and they must save the rest for a specific purpose. It must be an achievable goal given the amount of pocket money.

How much pocket money to give?

The amount of pocket money must remain within proportion. A 6-year-old child does not need even 10 euros in pocket money every week. The amount must be adjusted to the costs they have to bear themselves. For example, do young people also have to spend on drinks and food at school? Nibud has linked amounts to age on its website. Below you will find the amounts for each age.

How much pocket money does a 6 year old child get:

1,-

How much pocket money does a 7 year old child get:

1.40

How much pocket money does an 8 year old child get:

1.00 to 1.50

How much pocket money does a 9 year old child get:

1.20 to 2.00

How much pocket money does a 10 year old child get:

1.75 to 2.00

How much pocket money does an 11 year old child get:

2.00 to 2.50

How much pocket money does a 12 year old child receive:

2.30 to 5.00

How much pocket money does a 13 year old child receive:

2.50 to 5.00

How much pocket money does a 14 year old child receive:

3.50 to 5.80

How much pocket money does a 15 year old get:

3.50 to 7.00

How much pocket money does a 16 year old get:

4.70 to 8.00

How much pocket money does a 17 year old get:

4.70 to 8.20

How much pocket money does an 18 year old get:

€5 to €11.60

Give a fixed amount and do not top up as standard

You must give a fixed amount and preferably on the same day every week. As soon as they start working and have to run a household, they also have to wait until the monthly money is paid out. Of course you can occasionally deviate from the fixed time, but stick to the same day as much as possible. They will often come up short and ask you as a parent for more money. You should be careful about giving extra money. You must stick to the agreements made and only deviate from the agreements in exceptional cases.