Family & Relationships guide

Teach children about money with pocket money

Set up a fair pocket money system that helps your children learn to save, spend wisely and understand value, at a level that suits their age.

Estimated time: 30–45 minutesUpdated: 28 September 2026

Use this guide if you want to start pocket money or make your current arrangement more useful. Have a rough idea of what you can afford and what you want your children to pay for themselves.

Step by step

  1. Decide the purpose

    Agree with any other parent what pocket money is for, such as treats, saving for toys or small everyday costs. Decide whether it is linked to chores or given regardless.

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