Question of the Day: For the two-thirds of kids who get an allowance, what's the average weekly amount they receive?
Answer: About $30/week
Questions:
- If you currently receive an allowance...
- Do you have to do chores to earn it?
- Do you save any of it? For a larger purchase or save in a bank?
- How long have you been receiving it?
- If you don't receive an allowance currently...
- Did you ever receive one?
- Do you have a job and earn money that way?
- What experiences do you have with earning and spending money?
Behind the numbers (from MarketWatch):
A 2019 survey by the American Institute of Certified Public Accountants (AICPA) found that two-thirds of parents give their children allowances, most starting by the time children reach age 8. Over all age groups, allowances average $120 per month, or just over $30 per week.
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From the Archives:
In 2012, allowances average $65 per month, or just over $16 per week! That is almost a 100% increase in average allowance!
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Want to be more mindful about how you spend your allowance? Start with this NGPF INTERACTIVE: What Kind of Spender Are You?
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About the Author
Mason Butts
After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.
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