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How much allowance should my child get?
How much allowance should my child get?
Elin Westerberg avatar
Written by Elin Westerberg
Updated over a week ago

The purpose of the allowance is to give kids the opportunity to learn about the value of money and how to manage it through their own experiences, and down the line to become financially literate and make thoughtful, well-informed financial decisions throughout life.

The amount is not the most important thing; it’s the fact that the kid gets to manage money. The size should increase with increased responsibilities and expectations on what it should suffice. A good rule of thumb is that the allowance amount should be:

Big enough to:

  • Cover the kid’s basic needs (example phone bill if you as a parent don’t pay for it)

  • Save some towards a future goal

  • Spend some on fun stuff right now

Small enough to:

  • Make choices and prioritize

When you use Gimi to set up your child's allowance, you will receive a suggestion based on what other kids in their age are receiving.

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