Child Allowance Calculator

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?

Every family is different. In some households only one parent may be super excited to offer an allowance. In other households both or none of the parents decide to.

When should a child start receiving an allowance?

Again, this is totally up to each family. Some programs like ABCmouse reward children as young as 2 with digital tickets. This doesn't require any extra money from parents because the child earns digital currency by completing online lessons. The child can then buy their own digital pet, furniture for their digital room, or clothes for their avatar.

Any suggestions for older children?

• Custodial Accounts

• High Yield Savings Accounts

• Robux

• Minecoins

Which financial skills are children exposed to?

• Earning

• Saving

• Spending

• Financial Planning

• Delayed Gratification

• Investing