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Pocket Money for 5 Year Olds
Complete UK guide for age 5
Recommended Amount
Weekly Average
£2.00
Monthly
£8.66
Yearly Total
£104.00
Typical Range: £1 - £3 per week
Based on UK averages (London area may be ~20% higher)
🎯Financial Skills to Develop at Age 5
What your 5-year-old should be learning about money:
- 1Recognizing coins and notes
- 2Understanding exchange (money for items)
- 3Delayed gratification basics
- 4Counting money with support
🛍️What 5-Year-Olds Typically Spend On
Common purchases and interests at this age:
•Small toys and collectibles
•Sweets and treats
•Stickers and trading cards
•Small craft supplies
✅Chores & Pocket Money
Optional - focus on developing the habit rather than payment at this age
💡Tips for Age 5
Keep it simple: At this age, focus on recognizing coins and understanding that money buys things. Don't worry about complex budgeting yet.
Visual aids help: Use a clear jar or piggy bank so they can see their money grow. This makes saving tangible.