Allowance becomes the lesson.
Monty helps parents use allowance as a simple way to teach kids how to think about money before they spend it.
What allowance teaches
Allowance can help kids practise:
- Planning
- Waiting
- Saving
- Spending
- Giving
- Making choices
What parents do
Parents can:
- Set an allowance amount
- Choose a schedule
- Leave the split to their kid
- Review goals
- Talk through choices
Example: a $10 weekly allowance
$10 arrives every week. At Monty O’Clock, the kid decides the split — maybe $4 to Spend, $4 to Save toward a goal, and $2 to Give. Next week, with a different goal in mind, they might split it differently. That weekly decision is the habit.
What kids learn
Kids learn that money is not just for spending. It can be saved, shared, planned, and used with purpose.
Why it matters
Allowance gives kids a safe way to practise money decisions before the real-world stakes get bigger.
Allowance connects to real life.
Allowance is not just about giving money. It is also about helping kids understand how money connects to real life. Parents can add:
- A bonus for extra effort
- An adjustment, tagged Correction, when something needs fixing
Parent guides: How to start an allowance and Allowance by age in Canada.
Questions parents ask
Should allowance be tied to chores?
There is no single right answer. Some families tie allowance to chores to connect effort with reward. Others give it freely as a teaching tool. Monty supports both approaches. What matters most is consistency and conversation.
How much allowance should kids get?
Enough to be meaningful: big enough that your kid faces real choices, like buying now or saving, while the stakes are still low. A consistent allowance with clear expectations teaches more than a large, irregular one. A useful guide is $0.50 to $1 a week per year of age, then choose what fits your family.
How often should allowance be given?
Weekly works well for younger kids because the time horizon is short enough to feel real. Older kids can handle bi-weekly or monthly schedules, which also teaches longer-range planning.
Can allowance teach saving?
Yes. Kids split every allowance into Spend, Save, and Give themselves — so from the first payment they practise deciding that not all money is for immediate use.
Can I change the allowance setup later?
Yes. Monty lets parents adjust the allowance amount and schedule at any time. As kids grow, their allowance can grow with them. The split stays your kid’s choice each week.
Start building money habits with your family.
Create your free Monty Family Account and help your kids practise real money habits this week.