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Family Allowance Budget Calculator to Create a Household Profit Sharing Plan

Calculator Preferences
Family Allowance Budget Calculator

This budgeting tool will calculate a fair allowance for kids and parents based on either your own preferred percentage split, or on allowances recommended by experts. Includes a printable family allowance chart. The Learn tab includes:

  • Allowance for kids ... AND parents!
  • Why allowance for kids is critical to their financial education.
  • Allowance for chores?
  • Create a profit-sharing reward program for the household.
Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Household budget surplus:Household budget surplus:Budget surplus:Household budget surplus:

Household budget surplus:

Select the period the budget surplus applies to and then enter the surplus amount. Enter as a dollar amount but without the dollar sign and any commas. A surplus is the amount left over after all essential due and accruing household bills and expenses have been paid and/or funded.

Split:Adult/child split:Parent:Child surplus percentage split:Parent:Child surplus percentage split:

Parent:Child surplus percentage split:

Select the Parent:Child surplus percentage split. The number to the left of the colon is the parent/adult percentage, and the number to the right of the colon is the child percentage. For example, if 75:25 is selected, 75% of the surplus will be divided up between the parents, and 25% will be divided up between the children. If you want to only disburse the surplus to your children, select 00:100.

# parents:Number of parents:Number of parents in household:Number of parents in household:

Number of parents in household:

Select the number of parents in the household. If 2 parents are selected, the parent surplus will be divided up equally between the 2 parents.

# kids:Number of kids:Number of children in household:Number of children in household:

Number of children in household:

Select the number of children in the household. This will load an entry form row for each child in the section below.

Allowance for Kids DataAllowance for Kids DataAllowance for Kids DataAllowance for Kids Data

Allowance for Kids Data:

Name: Enter the name of each child you want included in the allowance for kids calculations. If you prefer not to use real names, feel free to enter nicknames. The name field will need an entry in order for the row to be included in the calculations.

Age: Enter the age of each child. The age will need an entry in order for the row to be included in the calculations.

%: This is an optional column to be used if you prefer to set the percentages for each child yourself. Note that the entered percentages must add up to 100 in order for the calculator to use this column in its calculations. Otherwise, the calculator will use the age of each child to determine a percentage based on what most experts believe to be optimum for each age.

Total pct:Total percent:Total percentages:Total percentages:

Total percentages:

This field keeps a running total of your allowance percentage entries as you enter them for each child. If the total is not equal to 100, the entries in the percentage column will be ignored.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated
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Tip

Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

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Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.