Financial Education

How much pocket money should I give my teenager?

By Eva - 3/10/24

Bloon's opinion

At Bloon, we understand the importance of financial education for young people. We offer :

Prepaid cards adapted to teenagers : they allow them to spend money in total security while learning to manage their expenses.
Strict parental control : you can set spending limits, monitor transactions and block the card if necessary.
Educational tools : articles, quizzes and infographics help teens grasp basic economic concepts.

By providing your child with a Bloon prepaid card, you can help them acquire valuable skills that will serve them throughout their lives. Remember, education and support are key to guiding your child towards independence and control over their money.

As a parent, you may be wondering how much pocket money to give your teenager. Here are some things to consider to make the best decision for your child and your family.

Key factors to consider

Your teenager's age and maturity are important factors to consider when deciding how much money to give him or her.

Child's age

In general, older teenagers can manage larger amounts of pocket money than younger ones. This is because they have more experience in managing money and are more likely to understand the value of money.

Your teen's maturity

However, some teens may be more mature than others. So, when assessing your teen's maturity, consider the following factors:

Level of responsibility : Is your teenager responsible and reliable? Is he able to manage his money responsibly and make informed decisions?
Understanding the value of money : Does your teenager understand the value of money? Does he know the difference between his real needs and his desires?
Budgeting skills : Can your teenager set a budget and stick to it? Can he keep track of his spending and avoid excessive purchases?

If your teenager is mature and responsible, you may consider giving him or her a larger amount of pocket money. However, if your teenager is younger or less mature, it may be better to start with a smaller amount and gradually increase the amount as he or she matures.

Cost of living in your region

The cost of living varies from region to region. Factor in the cost of activities, transportation and other living expenses when determining your allowance.

Impact on pocket money

If you live in a city with a high cost of living, such as Paris or Nice, you may need to give your teenager a larger sum.

Note also that the cost of living can vary within the same region. For example, the cost of living in central Paris is much higher than in the suburbs. When determining your teenager's allowance, take into account the cost of living in your specific city or neighborhood.

Other criteria to consider

Needs and responsibilities : some teenagers may have additional needs or responsibilities, such as transportation to school or extracurricular activities.
Financial goals : if your teen is saving for a specific goal, such as a new phone or a trip, you can adjust the amount accordingly.

Recommended pocket money

According to a study published in the newspaper Le Parisien, the amount of pocket money donated in France by ado in 2023 was 36 euros per month. According to this study, also published on TF1 info. on September 11, 2023the distribution of pocket money among teenagers is quite common, with around half of them receiving it regularly - 57% to be precise.

The amount collected varies according to the child's age:

10-12 year-olds receive an average of 24 euros per month.
12-14 year-olds: an average of 26 euros per month.
14-16 year-olds: 32 euros per month on average.
Teens aged 16 and 17 receive 42 euros per month (source Pocket money: how much to give your child? Le Parisien - September 11, 2023).

Beware of marketing promises

Many banking solutions aimed at children are nothing more than marketing promises, lacking genuine parental control and budget management tools. They are often based on the same basic technical offering, and fail to take into account the specific needs of teenagers.

It's essential to choose a solution that offers genuine parental control, educational tools and support tailored to teenagers. Bloon stands out for its approach focused on financial education and the protection of minors.

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