Depending on the family income, one to four dollars per week for children ages 6 to 8 and four to eight dollars per week for children ages 9 to 12 would be a good beginning place. You may want to give the allowance in a variety of denominations (including both coins and bills). This may make it easier for young children to divide their allowance into various categories.
Another useful resource is http://www.extension.umn.edu/distribution/youthdevelopment/DA6117.html.
We would like your feedback on this Personal Finance Frequently Asked Question.
