Allowances are an excellent way to introduce children to money management and other financial skills. Use the following calculator to breakdown your family's numbers below.
The above calculator uses 52 weeks in a year, instead of the more accurate 52.1428571429. This means that yearly allowances are rounded up to the nearest whole number.
Which parent pays the allowance?
When should a child start receiving an allowance?
Any suggestions for older children?
Which financial skills are children exposed to?