How Much Allowance Are Kids Getting These Days?

Are your kids getting their fair share of allowance?  Or are you MORE generous than the average?  Check out this new study...  

  • A new report finds that the average allowance for a child ages four to 14 is currently $5.24, with four-year-olds likely to get, on average, about $2.58, while 14-year-olds get about $8.32
  • 68% of parents say they give their kids an allowance, although some of those youngsters do have to earn their money through chores, schoolwork and more
  • 72% of kids actually save their allowance to buy things like Legos, a phone or a bike, while others spend it on apps, toys and candy

And while 68% of parents say they give their kids an allowance, some of those youngsters do have to earn their money. The most common way to earn their dough is through household chores like cleaning their room ($3.86), doing dishes ($2.56), vacuuming ($2.42), emptying the trash ($1.84) and laundry ($1.63). Some parents also pay kids for schoolwork, with parents giving on average $3.45 for completed homework, and $7.83 for good grades. And then there are the chores that bring in the big bucks, like:

  • Gardening - $10.66
  • Babysitting - $9.37
  • Clearing leaves - $5.47
  • Washing the Car - $5.20
  • Walking the dog - $3.89 

Source: Yahoo News

photo: Getty Images North America

Bill George

Bill George

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