What is the Average Allowance for Kids 4-14?
So what exactly is the average allowance? And more importantly – is an allowance the way to go?
A new survey shows that 69% of parents give their kids an allowance. The average is $5.24 a week. That’s for kids 4 to 14.
You get a pay bump the older you get. The average 4-year-old rakes in $2.58 a week and by the time you are 14, that jumps to $8.32.
The most lucrative chore kids can do around the house, is clean their bedroom. That’ll get ya $3.86. Then it breaks down:
- dishes – $2.56
- vacuuming – $2.42
- taking out the trash – $1.84
- help with laundry – $1.63
Outside work is where the real cha-ching is:
- gardening – $10.66
- raking leaves – $5.47
- washing the car – $5.20
- walking the dog – $3.89
Then there are some other ‘chores’…
- good grades – $7.83
- doing homework – $3.45
- ‘being good‘ – $2.89
Once they’ve got the money the top three things kids spend that money on are apps, toys and candy. The top three things they save for are Legos, a phone and a bike.
I am not a huge fan of giving out money for things that I think kids should be helping with anyway. I think it sets up an expectation that shouldn’t be there. Plus…money for being good? Seriously?.
I never got an allowance and worked like a dog. I work like a dog as a grown up too…
What do YOU do at your house?