Kid’s Allowance’s Average $65 A Month
Some kids have a list of chores to earn an allowance, some lucky ones (?) don’t. As I recall, an allowance was not a part of our family’s budget but my paper route usually got me by. A new survey reported by the American Institute of CPA’s found that the average child is the United States get a $65 per month–or $780 per year–allowance. Allowances usually come with responsibilities, 89% of parents expect certain chores to be completed. How old are kids when they first get the cash?
54 percent of parents said that they started doing so when their kids were 8 years old.
Proponents of allowance’s say that it gives kids a healthy respect for money and allows them to better understand the budgeting process.