Allowance & Chore Earnings Tracker
Plan your child's weekly allowance and chore earnings. Set a savings goal and see how many weeks until they reach it. Age-appropriate earning rates and savings habit guidance included.
Allowance & Savings Goal Formula
Total weekly earnings combine a base allowance with per-chore bonus payments, then a savings percentage is split off to project weeks until a savings goal is reached.
Age-appropriate chore pay and allowance amounts are provided as guidance based on American Academy of Pediatrics recommendations and survey data from the American Institute of CPAs.
How to Use the Allowance & Chore Earnings Tracker
Enter your child's age
The calculator shows age-appropriate earning ranges from the AICPA's annual kids and money survey data.
Set a base weekly allowance
A common guideline is $0.50–$1.00 per year of age per week ($5/week for a 5-year-old). This is separate from chore earnings.
Add bonus chore earnings
Enter the number of extra chores and pay per task. Chore bonuses teach work-reward connection beyond the base allowance.
Set a savings percentage
Financial advisors recommend the 'save, spend, give' split — try 25% savings, 65% spending, 10% giving as a starting framework.
Enter your savings goal
Choose a concrete, achievable goal like a toy, game, or experience. Concrete goals are more motivating for children than abstract savings targets.
Real-World Scenario Example
"An 8-year-old gets $5/week base, does 3 chores at $2 each, saves 25%, and wants to save $100 for a video game."
Inputs
Result
Weekly earnings: $11. Weekly savings: $2.75. Weeks to goal: 37 weeks (~8.5 months). Monthly total: $47.63.
Important Disclaimer
Allowance and chore pay recommendations are general guidelines. Amounts should reflect your family's financial situation, local cost of living, and what expenses the allowance is expected to cover.
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