A quick starting point for weekly allowance, based on your child's age and the common "per year of age" rule of thumb — works in any currency.
There's no single right answer — it depends on your budget, what the allowance needs to cover, and local cost of living. The "1 unit of currency per week per year of age" rule (so $8/week, £8/week or €8/week for an 8-year-old) is a widely cited starting point that many families adjust up or down from there, in whatever currency they use.
It's a simple, commonly used guideline where a child's weekly allowance roughly matches their age in whatever local currency you use — a 6-year-old gets 6/week, a 10-year-old gets 10/week, and so on, whether that's dollars, pounds, euros or another currency. It scales allowance up naturally as kids get older without requiring a family to work out exact numbers from scratch.
Families are genuinely split on this. Some tie allowance directly to completed chores to reinforce work-reward connections; others treat basic household contributions as expected regardless of allowance, and pay separately for extra, optional tasks. Either approach can work — consistency matters more than which model you pick.
A common approach is dividing it into three categories — spend, save and give — often using separate jars or accounts, to build the habit of thinking about money in more than one way from an early age. The exact split (like 50/40/10) is much less important than practicing the habit itself.
Most financial educators would say no — a smaller allowance given reliably and paired with real decision-making (letting a child choose how to spend or save it, including making mistakes) tends to teach more than a larger amount given inconsistently or with the parent controlling every purchase.