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
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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
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Then there are some other 'chores'...

  • good grades - $7.83
  • doing homework - $3.45
  • 'being good' - $2.89
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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?