Pocket money for kids: how to get started and keep track

Pocket money is less about the money and more about giving the child a chance to practise making choices. Get an amount, think about what it should cover and learn something from it running out. The most important thing is to agree on the rules before the first payout, so everyone knows what applies.

Decide three things before you start

1. How often? Younger children usually manage a week better than a month, since a month is a long time to wait. Older children can move to monthly pocket money once they can plan further ahead.

2. How much? There's no right answer. Swedish consumer authorities publish guideline amounts by age, so check their current figures and adjust to your family's finances. What matters is that the amount is small enough to feel and big enough that there's something to choose.

3. What should the money cover? Is it only sweets and games, or should the child also pay for things like a fika with friends or a gift? A clear boundary prevents arguments later.

Should pocket money be tied to chores?

Families differ here, and both ways work. Some common setups:

Pocket money with no link to chores. The child helps at home because you live together, and gets money to practise managing it.
Chores that earn extra. A base amount, plus something extra for bigger jobs like washing the car.
Everything linked. The child earns the money through chores. That can be motivating, but the risk is that "no payment, no helping" becomes the rule.

What matters is that you choose deliberately and stay consistent. If you'd like to read more about how to get kids doing chores without nagging, there's a post of its own. If you want to try stars and rewards for chores, you can see how it works in chores for kids.

How to keep track without the hassle

The hardest part of pocket money isn't paying out, but remembering how much the child has left. Three ways:

Cash in a jar or box. Simple and concrete for the youngest, who can see the money running out.
A card or an app from the bank. Works for older children, but requires that you think it suits the child's age.
A simple note or list. Write down deposits and withdrawals, so both you and the child know the balance.

Whichever method you choose, it helps if the child can see their balance. Then money becomes something they understand, not something that happens in a parent's wallet.

A few tips along the way

Let the child make their own mistakes. If the money is gone by Wednesday, that's a lesson, not a reason to top up.
Talk about saving. A goal, like a toy or a bike, makes it easier to wait.
Raise the amount as the child grows, and explain why. That way they learn that more money comes with more responsibility.
Be careful to pay out on time. If you miss a week, the child loses trust in the system.

Frequently asked questions

How much pocket money should a child get? It depends on age and what the money should cover. Consumer authorities give guideline amounts, but decide for yourselves based on what the child will pay for.

From what age can you start with pocket money? Many start when the child understands that money can be exchanged for things, often at preschool age or when school starts. Start small and simple.

Should the child get pocket money for helping at home? That's a question for each family. Some keep helping at home separate from pocket money, others link them. Pick a setup and stick to it.

Want order in chores and rewards? See how chores for kids work in FamVibe or download the app for free.