How much pocket money do you give a child?
From group 4 you can give pocket money, at least that’s how we were advised at school. At that point they also start to learn how to calculate with money and are at an age where they understand the concept of saving. But how much pocket money do you actually give to children.
On the Internet you can find a lot of information about the amount of pocket money you can give your child. The information from Nibud is perhaps the most enjoyable to read. According to the Nibud, children can recognize different coins from about 6 years old and so this is a good age to start with pocket money. It is important to give children the notion of saving right away; it is written here. Because at this young age they’d rather spend the money on toys or candy right away.
When they are older they understand better that it is better to put money aside to buy something bigger.
How much pocket money do you give your child
The amount you give depends on: how much yourself have to spend and what your child has to pay from pocket money. A few euros a week is enough if the pocket money is meant for small things like candy and toys. Does your child also have to pay for gifts or a subscription? Then maybe a higher amount is needed.
Look carefully together and agree what your child can and should pay from the pocket money then you can see if the amount of pocket money is enough.
What is given on average in pocket money
The tables below show what elementary school children get approximately
|Age||Pocket money (per week) in €|
The moment I saw the table, I realized that I myself was pretty low on what I give in pocket money each week. Fair is fair, I started well at the youngest with my 50 cents,but ‘forgot’ to go up a little more. Good to just research once in a while and see what is recommended.