A $5 a week allowance: what it adds up to
$5 a week is about $21.67 a month and $260 a year. Split 50/40/10 it is $2.50 to spend, $2 to save and $0.50 to give.
$5 a week, in numbers
- Every week
- $5
- Every month (52 weeks / 12)
- $21.67
- Every year
- $260
- Spend jar (50)
- $2.50
- Save jar (40)
- $2
- Give jar (10)
- $0.50
Which ages it matches
- 0.5 per year of age: age 10
- 1 per year of age: age 5
- 1.5 per year of age: outside ages 4 to 18
The per-year-of-age rules of thumb: half, one or one and a half per year of age, every week.
How long to save for a goal
| Goal | Save jar only | With 2 in every 100 a week interest | Saving all of it |
|---|---|---|---|
| $20 | 10 weeks | 10 weeks | 4 weeks |
| $50 | 25 weeks | 21 weeks | 10 weeks |
| $100 | 50 weeks | 36 weeks | 20 weeks |
| $250 | 125 weeks | 64 weeks | 50 weeks |
| $500 | 250 weeks | 91 weeks | 100 weeks |
TaskFamily pays a $5 weekly allowance automatically into spend, save and give jars, and the savings jar can earn interest you set, so children see their goal date move closer.
Free for one household. Premium is $5.99 a month or $49 a year for the whole family, never per child.
Keep reading
Amounts are worked out with the same arithmetic as our allowance and savings goal calculators. They are starting points, not advice on what to pay. The guide text is drafted with AI from these numbers and checked automatically before it is published.