Jugendinstitut releases pocket money guide for parents in Germany

The German Youth Institute (Deutsches Jugendinstitut) has published a guide for parents in Germany on how much pocket money is appropriate to give their children.

German Youth Institute releases pocket money guide

Parents who decide to give their children pocket money in Germany can now refer to a helpful guide if they are wondering how much is too much to spend on sweeties each week.

The Deutsches Jugendinstitut has published an outline of how much weekly or monthly pocket money is appropriate for children and young people from ages six to 18.

Experts at the Jugendinstitut suggest that parents give their children some pocket money since it is a highly effective way to teach financial literacy at an early age. 

However, to teach financial literacy, what is important is not so much the amount of money, but that children receive it on a regular basis, Alexandra Langmeyer-Tornier from the Jugendinstitut told ZDF. Additionally, if the amount increases, it is done so regularly on a specific occasion, such as a birthday or when the child moves into the next year at school.

Pocket money can be used to discuss work and  financial inequality

“Children understand the principle of money in exchange for goods very quickly. [...] The fact that parents go to work and receive money in return can be brought up a little later,” said Langmeyer-Tornier.

Once children have learned how to save and spend their money wisely, Langmeyer-Tornier points out that pocket money can be used to teach teenagers and young people about financial inequality.

“You can also talk about income with young people and highlight that different families have different financial resources. Then it is possible to classify your own familial financial situation and clarify what is possible [in terms of pocket money].”

How much pocket money should children get in Germany?

According to the research from the Deutsches Jugendinstitut, the following sums are appropriate pocket money for children in Germany:

For children under 10, per week:

• Younger than six: 1 - 2 euros
• Age six: 2 - 2,50 euros
• Age seven: 2,50 -  3 euros
• Age eight: 3 - 3,50 euros
• Age nine: 3,50 - 4 euros

For children between 10 and 15 years old, per month:

• Age 10: 20 - 22,50 euros
• Age 11: 22,50 - 25 euros
• Age 12: 25 - 27,50 euros
• Age 13: 27,50 - 30 euros
• Age 14: 30 - 40 euros
• Age 15: 40 - 50 euros

For young people between 16 and 18 years old who are entirely financially dependent on their parents or carers, per month:

• Age 16: 50 - 60 euros
• Age 17: 60 - 70 euros
• Age 18: 70 - 75 euros

To find out more head to the Deutsches Jugendinstitut website.

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