When It Comes To Allowance, How Much Do You Give Your Kids? [POLL/VIDEO]
Just over 50% of parents give allowance to their kids, are you in that group,if so; how much do you give them? We discussed this topic on the Morning Sideshow and had a caller who gave his son $50. a week but the boy had to buy his own clothes etc…Some kids do fairly well and if they save it versus spending it right away they will have a pretty nice chunk of change. I gave my two daughters $5.00 a week basically for chores etc… plus extra for good grades but both of them made straight A’s so that cleaned me out.
Ages four to nine on average are getting $4 to $5 a week, ages 10 to 13 about $10 a week and ages 14 to 17 getting roughly $16 a week. Think About it a four year old could be raking in $215 a year and a 16 year old $830.00 a year. Not bad really, again they can build up some bank if they save it versus spend it right away, of course we all need to spend a little something, right?
Take the POLL and let us know what allowance,if any; you pay your kids. The bright side is kids learn the value of money.
The value of money: