What this guide covers
Pocket money is most useful when you split it into three pots: spend now (~50%), save for a goal (~30%), and a third for either giving away or longer saving (~20%). The amount matters less than the habit. If your pocket money is too low for what you actually need, here's how to negotiate calmly.
Earned vs given money
There are two kinds of money you might get as a 10-13 year-old:
- Given money — pocket money, birthday gifts, Christmas money, money from grandparents
- Earned money — chores done for cash, dog walking, helping a neighbour, small babysitting (older teens)
Both are legitimate. But your brain treats them differently. Earned money feels harder to spend, because you remember the work. Given money feels more disposable. This is why some families combine both — a small "given" base plus extra for tasks beyond your normal chores.
How much is "normal"?
UK averages from the 2024 Halifax Pocket Money Survey:
These are averages, not rules. Some families give nothing — the parents buy what's needed when it comes up. Some give much more. Both can work, depending on the conversation. What matters is whether you and your parents agree on what the pocket money is for — treats only, treats plus phone top-up, treats plus all your clothes, etc.
The three-pot method
The most useful system for 10-13 year-olds. Take your weekly or monthly pocket money and split it three ways.
| Pot | % | What it's for |
|---|---|---|
| Spend | ~50% | This week: snacks, magazines, small treats. Spent without guilt. |
| Save | ~30% | A specific goal you want in 2-6 months: a game, trainers, an event ticket. |
| Share / long-save | ~20% | Either charity giving OR longer-term saving for next year. |
Worked example. You get £10/week pocket money:
- £5 to spend this week (snacks, gaming, small treats)
- £3 toward a specific saving goal (£12/month adds up to £144/year)
- £2 toward long-term saving or giving
If you have a bank account, set up the system properly: pocket money lands in your current account, then a standing order moves £3 to your savings account the next day. You don't have to remember it — it happens automatically.
When to ask for more — and how
It's reasonable to ask for a pocket-money increase if any of these is true:
- You've started doing extra chores or have new responsibilities
- Your friends' situations have changed (e.g. group activities cost more than they used to)
- You've taken on something specific (your own phone bill, lunches you used to take from home)
- You're older than when the amount was set — pocket money usually increases by age
How to ask:
- Pick a calm moment — not when your parent is stressed, not when you're asking for money for something specific
- Write down what you spend — for 2 weeks. Show the gap.
- Propose a number with reasoning — "could we move from £8 to £12, because [reasons]"
- Offer something in return — an extra chore, taking responsibility for something
- Be willing to negotiate down — £10 not £12 is still progress
When pocket money turns into wage
At some point — usually around age 14-16 — pocket money often stops being separate from earned money. You might:
- Get a small Saturday job (NMW for 16-17s is £7.55/hr from April 2026)
- Start tutoring, dog walking, lawn mowing
- Sell things you no longer use on Vinted or eBay
If you do, two things change:
- Pocket money usually reduces or stops — your parents expect you to cover more of your own treats from earnings
- The amounts get bigger, so the three-pot system matters even more — a £200 paycheck split 50/30/20 = £100 spend, £60 save, £40 long-save
For more on this transition, see the pocket money to paycheck guide.
National Curriculum links
- England — PSHE Association KS3 L24 (managing money), L25 (financial decisions)
- England — Maths KS3 (percentages, budgeting)
- Wales — Curriculum for Wales Progression Step 3-4 (HWB AoLE, Maths & Numeracy AoLE)
- Scotland — Curriculum for Excellence MNU 3-09a, HWB 3-21a
- NI — LLW KS3 Personal Finance
Full mapping in the curriculum map.
UK Tax Drag (2026). Pocket money — earned, given, and what to do with it. Ages 10–13 guide. Available at: https://kids.uktaxdrag.co.uk/ages-10-13-pocket-money.html
Curriculum mapping: see UK Financial Education Curriculum Map (Version 1.0).