Work out pocket money instantly with clear inputs, formula shown and shareable results.
A common convention is a fixed amount per year of age, so pocket money rises automatically with each birthday, plus a bonus tied to agreed chores. Splitting off a fixed share for saving builds the habit before the spending decision is made.
Pocket money
weekly = age x rate per year + chore bonus; saved = weekly x savings share
It scales naturally, avoids annual negotiations, and matches the growing cost of a child's independent spending.
Opinions differ. A common compromise is that basic household duties are unpaid, while extra tasks earn a bonus.