Free allowance calculator for kids

How to use

1. Enter your child’s age.
2. Select the allowance system that fits your family.
3. Fill in any extra fields for chore-based or income-percentage methods.
4. Click Calculate and review the weekly amount plus the tip.

Formulas

Age-based:

weeklyAllowance = childAge × $1

Chore-based:

weeklyAllowance = choreHours × choreRate

Income-percentage:

weeklyAllowance = (householdIncome × incomePercentage ÷ 100) ÷ 52

Monthly = weekly × 52 ÷ 12
Annual = weekly × 52

Worked example

Age-based, 10-year-old:

weeklyAllowance = 10 × $1 = $10/week
monthlyAllowance = $10 × 52 ÷ 12 ≈ $43.33/month
annualAllowance = $10 × 52 = $520/year

Chore-based, 5 hours/week at $2/hour:

weeklyAllowance = 5 × $2 = $10/week

Notes

• The age-based $1/year rule is cited by the American Institute of CPAs as the most commonly used parenting guideline.
• Research suggests children benefit most from allowances when they also have a savings component — encourage splitting money into spend, save, and give categories.
• Adjust the chore rate for the child’s age and local cost of living. $1–$2/hour is common for young children; $3–$5 for teens doing substantial work.