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Pocket Money for 7 Year Olds
Complete UK guide for age 7
Recommended Amount
Weekly Average
£3.00
Monthly
£12.99
Yearly Total
£156.00
Typical Range: £2 - £5 per week
Based on UK averages (London area may be ~20% higher)
🎯Financial Skills to Develop at Age 7
What your 7-year-old should be learning about money:
- 1Understanding weekly vs. one-off money
- 2Splitting money: save, spend, give
- 3Comparing prices
- 4Waiting several weeks for larger goals
🛍️What 7-Year-Olds Typically Spend On
Common purchases and interests at this age:
•Books and magazines
•Small toys and games
•Cinema trips (with contribution)
•Saving for bigger items
✅Chores & Pocket Money
Can link some pocket money to regular chores - discuss expectations clearly
💡Tips for Age 7
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.