What Kids Are Getting For Allowance, And What They’re Doing With It
My wife and I are thinking about starting an allowance plan for my son Dean. So I did a little research and kids these days seem to be balling out….
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My wife and I are thinking about starting an allowance plan for my son Dean. So I did a little research and kids these days seem to be balling out.
According to RoosterMoney, an app that tracks kids’ allowance and chores:
- 69%% of parents say they gave their kids an allowance last year.
- The average weekly allowance is $9.59, or $499 a year.
- That’s an increase of 6% from last year.
Many kids have to do chores to get some of that dough, and while that may sound harsh, it seems they're getting paid well to do them. The report notes the top earning chore are:
- Mowing the lawn, $7.5
- Washing the car, $5.56
- Gardening, $3.42
- Washing windows, $3.23
- Cleaning bedroom, $2.31
- Helping make dinner, $2.19
- Looking after pets, $2.11
- Clean bathroom, $2.02
- Vacuuming, $1.96
- Mopping, $1.92
And it turns out not all of those kids are running to spend their money as soon as they get it. In fact, kids are likely to save 42% of the money they’ve earned, As for what they're saving it for, the tops items include:
- Lego Sets
- Phones
- Nintendo Switch
- Pokemon
- Books & Magazines
Of course some kids do spend their money. The top items they are spending their allowance on incude:
- Books & Magazines
- Presents
- Candy
- Roblox
- Lego
Source: Yahoo
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Steve Maney’s radio career has taken him all over the US, from interning with Howard Stern to working with Elvis Duran, this radio veteran now calls Charlotte and Kiss 95.1 home. He is Kiss’ staple entertainment guy writing about his thoughts on local news and funny topics like the name of the male Karen. It’s so much to know, but Maney will deep dive into any topic to get you a great piece to read.
