Pocket money table: How much pocket money for children?
In our pocket money table, we provide information on how much pocket money is appropriate for children of what age. The pocket money table only offers recommendations or guidelines and no specifications.
Pocket money table: Why pocket money at all?
When a child is given pocket money, they learn how to use money sensibly. It understands how small and large wishes can be fulfilled through patient saving. But as the name suggests, the pocket money belongs in your pocket – and not necessarily in the piggy bank!
With the help of pocket money, children learn to set financial priorities early on. They learn to take responsibility for their own money and are slowly introduced to the lust and frustration of our consumer society. The amount of pocket money is not that important and the values from the pocket money table are not binding: the only important thing is that a child can use it appropriately.
Pocket money recommendation according to the pocket money table
Children between the ages of two and four can normally receive pocket money. They should get one at the latest when they start school, because at school age children can already calculate small amounts and assign a value to things.
Of course, the amount of pocket money depends on the budget of the parents. But it shouldn’t be too low – after all, the child should have a little wiggle room! However, it shouldn’t be too high either – after all, it should also learn to set priorities! To give parents an idea of how much pocket money is appropriate at what age, we have compiled the following pocket money table. It is based on the recommendation of German youth welfare offices.
pocket money table
| Years | amount (recommendation) | Monthly payout | Weekly payout |
|---|---|---|---|
| under 6 | €1 | no | Yes |
| 6- 7 | €2 | no | Yes |
| 8- 9 | €3 | no | Yes |
| 10 | €18 | Yes | no |
| 11 | €20.50 | Yes | no |
| 12 | €23 | Yes | no |
| 13 | €25.50 | Yes | no |
| 14 | €30.50 | Ye | no |
| 15 | €38 | Yes | no |
| 16 | €45.40 | Yes | no |
| 17 | €61 | Yes | no |
| 18 | €76 | Yes | no |
Proper use of pocket money
Of course, the pocket money table says nothing about the correct use of pocket money. In order to teach children how to handle money properly, parents should give them pocket money regularly, unsolicited and without grumbling. Only now and then should they remind their offspring not to spend everything at once, but to save some of it. In principle, children should be allowed to buy whatever they want with their pocket money. The only condition: It must not be dangerous or unhealthy (i.e. no knife, no cigarettes or similar). Parents should definitely take this into account!
Pocket money is not an educational tool!
If children should have miscalculated once, this is punishment enough. Accusations are superfluous. Parents should neither punish nor reward their children with pocket money! This means that the amount of pocket money should not be decreased as a punishment or increased as a reward. Pocket money is by no means a means of education!
In the beginning, dealing with money will still be very unfamiliar for the child! The typical initial mistakes will not be long in coming!