Allowance for Kids (and Teens Too!)

An allowance for kids is usually the first regularly scheduled payment a kid receives. Birthday or holiday money is too sporadic (and usually too large) to really give them a good sense of how to manage money. But kids' allowances are a great way to start their money management education. And parents can be the best teachers.

Allowance Basics for Kids
There are some basic tips to getting started with an allowance - no matter what age the child (or children) are. Our allowance basics page will help you get started with basic tips and techniques.

Average Allowances by Age
While using averages is not the best way to determine how much allowance to give your kids, it does help form some ideas on what others are doing.

Allowances for Kids up to age 10
The traditional way to figure out how much youth allowance to give kids is based on their age. But it should also include thoughts as to how much the kids are expected to pay for on their own - and what costs Mom and Dad are still going to cover. We have tips for kids' allowances from their first allowance up to their tenth birthday here.

Allowance for Older Tweens
Once your child gets to be an older tween, they want more money freedom. And with that can come an increased youth allowance. But how do you figure out what to include and what still needs to be covered by you? What about a clothing allowance? Check out this page for guidelines and tips for this age group here.

Allowance for Teens
When your kids get to be teens, it's time for an even broader approach. They want (and need) to be in more control of their own money. This means that there are other things to be considered in developing their allowance amount - including whether they should have one at all.

However you decide to manage the earning and payment process, it's important to use an allowance for kids as a way to educate kids on what money means, how much things cost and how long it can take to earn the money to pay for certain things.

These are things that typically aren't taught in school. But they shouldn't have to be learned when the kids - now young adults - get done with their schooling...and maybe piles of debt from student loans and credit cards.

An allowance for kids is just one small piece of the puzzle, but lessons learned at a young age can go a long way towards having the groundwork for a good financial education. And, if you do find that you need some help, just click on over to check out the Allowance Coaching service. It's a great way to get a little advice or reassurance on your family's allowance program.

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