How Much Pocket Money Should You Give?
One of the most common questions parents ask is "how much pocket money should I give?" There's no single right answer, but here are some guidelines.
The £1 Per Year Rule
A popular UK approach is to give £1 per week for each year of age. So a 7-year-old would receive £7 per week. This is simple, fair between siblings, and scales naturally as children grow.
UK Averages (2024)
According to recent surveys:
- Ages 5-7: £3-5 per week
- Ages 8-11: £5-8 per week
- Ages 12-15: £8-15 per week
- Ages 16+: £15-25 per week
What Should It Cover?
Consider what expenses the pocket money should cover:
- Younger children: treats, small toys, saving
- Teenagers: clothes, entertainment, phone top-ups
Earning Extra
Many families offer extra pocket money for additional chores beyond regular expectations. This teaches the connection between work and reward.