Allowance & Chore Calculator
Set a consistent, fair allowance from your child’s age and the chores they finished this week — with an optional save / spend / give split that turns payday into a money lesson.
Suggested allowance
How the allowance is worked out
The calculator builds the weekly amount from two parts. First comes an age-based base: a rate per year of age (the default is $0.50) multiplied by how old your child is. On top of that sits an optional per-chore bonus, so a week with more jobs done earns a little more. You decide how much weight to put on each — a flat allowance, pay-per-chore, or a blend.
Whatever the weekly figure comes to, it is then divided into three buckets so the money has a plan before it is spent. Consistency matters more than the exact amount: a predictable payday your child can count on does far more for their money sense than a large but random one.
Frequently Asked Questions
How much allowance should I give?
There is no single right number, but a widely used rule of thumb is roughly $0.50 to $1.00 per year of age each week — so about $4 to $8 for an eight-year-old. This calculator starts from that age-based amount and lets you adjust the rate to fit your budget and your family's norms.
Should allowance be tied to chores?
Families do it both ways. Some pay a flat allowance so kids learn to manage money regardless of behaviour, and keep chores as a non-paid family duty. Others pay per chore to link effort and reward. This tool supports both: set a base amount, a per-chore bonus, or a mix of the two.
What is the save / spend / give split for?
Dividing each payday into three buckets — save, spend, and give — is one of the simplest ways to teach money habits early. The defaults are 30% save, 50% spend, and 20% give, but you can change them to whatever you like as long as they add up to 100%.
How are the monthly and yearly totals worked out?
The weekly amount is multiplied out across a full year (52 weeks), and the monthly figure is that yearly total divided by 12. That keeps the monthly number honest rather than just multiplying the weekly amount by four.
A planning aid, not financial advice. Set amounts that fit your own household and values.