I want my kid to learn to earn, save and invest but I don't want to give too little that it seems too hard. I initially thought 3 but then thought about how long it would take to save for a £40 toy. Then I thought 7 but what prompted this question is that I found out a kid much older than my kid is getting like 6 per week, so I'm thinking is 7 for a 5 year old too much 🤔 🤷♀️
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It’s okay that it takes a long time to earn 40. Each week they’ll get excited to put the 3 into their bank, and each week they can count to see how much they have and talk about what they could afford with that amount. There are plenty of things that cost 3-6 dollars that you could discuss with her at this age

If it was me, I’d do 25 cents per task completed or goal achieved. In the U.S (Florida) we do book reading goals every week. So for every book read, I’d mark it off and give him 25 cents. Set a bunch of different small tasks and goals for the child to complete so that they could earn upwards of maybe 5-7 bucks a week. Print something out and laminate it, or use a giant white board to keep track of tasks and completion. You can also keep track of spending goals (for example they want to buy a specific toy, you track progress towards earning for it). This might work differently for you depending on how you want that allowance to be used. For the children in my family, we take them to the flea market where things are pretty cheap, and they can spend whatever they want from their savings there. But, that doesn’t mean we won’t buy toys for them just because or as gifts. We treat his “allowance” as an extra spending money that they get to use as they please. So a low budget is fine