A new survey looked at how much we pay our kids for their allowance. Overall, 69% of parents said they give their kids an allowance, and the average is $5.24 a week.
That’s for kids between 4 and 14. They get a nice little pay bump the older they get. The average four-year-old rakes in $2.58 a week. By the time you hit 14, it’s $8.32.
And for most parents, that allowance is tied to chores. The most lucrative chore kids can do around the house is clean their bedroom. The average parent says it’s worth $3.86. Followed by doing dishes, $2.56 . . . vacuuming, $2.42 . . . taking out the trash, $1.84 . . . and helping with laundry, $1.63.
Working OUTSIDE the house actually pays more. The average parent says gardening is worth $10.66 . . . raking leaves, $5.47 . . . washing the car, $5.20 . . . and walking the dog, $3.89.
Once they’ve earned it, the top three things kids spend their money on are apps, toys, and candy. The top three things they save up for are Legos, a phone, and a bike.
Also, bringing home good grades is worth $7.83 . . . doing their homework is worth $3.45 . . . and just “being good” is worth $2.89.