pocket money for kids in Australia
pocket money is one of the first ways kids learn about earning, saving and spending. here's a practical guide for Australian families — how much to give by age, whether to tie it to chores, and how to teach your kids healthy money habits.
how much pocket money by age
| age | suggested amount |
|---|---|
| 4–5 years | $1–2 per week |
| 6–8 years | $3–5 per week |
| 9–11 years | $5–10 per week |
| 12–14 years | $10–15 per week |
| 15–17 years | $15–30 per week |
these are averages from Australian surveys. adjust for your family budget and what your child is expected to cover with their money.
should pocket money be tied to chores?
this is one of the biggest debates among Australian parents. there's no single right answer — it depends on what values you want to teach.
the "yes" camp
- + teaches that work = money
- + real-world preparation for employment
- + motivates kids to contribute around the house
the "no" camp
- + chores are a family responsibility, not a transaction
- + pocket money teaches money management separately
- +avoids kids refusing chores when they don't want the money
the middle ground
many families give a base amount of pocket money each week, then offer bonus payments for extra jobs beyond regular household chores. this way kids learn both family responsibility and the value of earning.
age appropriate chores
even toddlers can start helping around the house. here's a rough guide to what kids can handle at different ages.
2–3 years
- put toys away
- put clothes in basket
- wipe table
4–5 years
- make bed (roughly)
- set table
- feed pets
- match socks
6–8 years
- unpack dishwasher
- sweep floor
- fold laundry
- tidy room
9–11 years
- cook simple meals
- vacuum
- mop
- take bins out
- wash car
12+ years
- mow lawn
- babysit siblings
- do own laundry
- cook dinner once a week
teaching kids about money
pocket money works best when it comes with some guidance. here are practical ways to build money skills.
the 3 jar system
split pocket money into three jars (or accounts for older kids) — spend, save, and give. even a simple 50/40/10 split teaches budgeting, delayed gratification and generosity.
let them make mistakes
when your child blows their pocket money on something they regret, resist the urge to bail them out. small money mistakes now are far cheaper lessons than big ones later. talk through what happened without lecturing.
take them shopping with a budget
give them a set amount and let them choose what to buy. this teaches comparing prices, making trade-offs and understanding that money is finite. even grocery shopping works — give them $5 to pick the fruit for the week.
explain bills and costs age-appropriately
older kids benefit from understanding household costs. you don't need to share your salary, but explaining that electricity, food and rent all cost money helps them understand the bigger picture.
model good money habits
kids learn more from what you do than what you say. if you compare prices, save for things and talk openly about money decisions, they pick up those habits naturally.
kids savings accounts in Australia
most Australian banks offer fee-free savings accounts for children. opening an account is a great next step once your child has some money to save.
what to look for
- no monthly or account-keeping fees
- decent interest rate (compare a few options)
- parental controls and visibility
- app access for older kids to track their balance
- ability to set savings goals
we don't recommend specific banks — we're not financial advisors. compare options on your bank's website or visit a branch together with your child.
digital pocket money options
several Australian apps let you manage pocket money digitally. services like Spriggy and Kit (formerly Kite) offer prepaid cards for kids with parental controls and chore-tracking features.
worth noting: these are paid subscription services with monthly fees. weigh the cost against the convenience, especially for younger kids.
for younger children, physical cash still has real learning benefits — they can see it, count it, physically hand it over at a shop. that tangible experience is hard to replicate with a card.
related guides
this guide is general information only and is not financial advice. pocket money amounts are based on Australian survey averages and may not suit every family. for personalised financial advice, consult a licensed financial adviser.