How much?
A rough guide: £1–2/week for ages 5–7, £3–5/week for ages 8–11, £5–10/week for ages 12–15. These are starting points — the most important thing is consistency and the child understanding what the pocket money is for (treats only, or everything including their social activities?). The Halifax Pocket Money Survey provides UK annual averages.
Should it be linked to chores?
Two schools of thought. Unconditional pocket money teaches that everyone in the household contributes to chores — it is not optional or paid. Linked pocket money teaches that work leads to income, which is a valuable life lesson. Many families use a hybrid: basic chores are expected, but extra chores earn extra money. Use our free pocket money chart to track both approaches.
Teaching saving alongside spending
Introduce the three-pot approach: spend, save, give. The moment children have their own money, they can begin making financial decisions. Even saving £1 per week towards a goal teaches delayed gratification — one of the most predictive life skills.
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| Top pick | Children's three-pot money box | Three-pot system | Check price → |
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| Book | Children's money book ages 7-12 | Financial literacy | Check price → |
| Game | Money board game for children | Learning through games | Check price → |
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