Finance Quick Answers
I want to give my child an allowance but I'm not sure how much is appropriate. Any suggestions?
Depending on the family income, one to four dollars per
week for children ages 6 to 8 and four to eight dollars
per week for children ages 9 to 12 would be a good
beginning place. You may want to give the allowance in a
variety of denominations (including both coins and
bills). This may make it easier for young children to
divide their allowance into various categories.
For additional information, see
www.wisepockets.com a website developed by the
Center for
Entrepreneurship and Economic Education at the
University of Missouri-St. Louis.
Mary Anne B. Pettit, Center for Economic Education, Southern Illinois University-Edwardsville
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Last update: Friday, July 25, 2008
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