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Pocket Money for 8 Year Olds
Complete UK guide for age 8
Recommended Amount
Weekly Average
£4.00
Monthly
£17.32
Yearly Total
£208.00
Typical Range: £2.5 - £6 per week
Based on UK averages (London area may be ~20% higher)
🎯Financial Skills to Develop at Age 8
What your 8-year-old should be learning about money:
- 1Percentage of money to save vs. spend
- 2Understanding "good value"
- 3Setting multi-week savings goals
- 4Basic budgeting concepts
🛍️What 8-Year-Olds Typically Spend On
Common purchases and interests at this age:
•Books, games, and hobby materials
•Birthday gifts for friends
•Occasional app purchases
•Savings goals (£20-50 items)
✅Chores & Pocket Money
Appropriate to tie to regular household contributions - be consistent
💡Tips for Age 8
Introduce the 3-jar method: Save, Spend, Give. Help them allocate pocket money across these categories.
Set savings goals: Picking a specific item to save for (£20-50) teaches delayed gratification and planning.