How Much Allowance Are You Paying Your Kids And What Are They Doing To Earn It?
According to a recent survey, 60% of parents give their kids allowances, but the amount they shell out to the kids depends on how old they are!
If you have a child between ages 4 and 9, they should be getting $4.70 a week. (I personally don’t know any 4 year olds that actually earn an allowance)If your child is between the ages of 10 and 13 they’re expected to get paid $8.70 per week.If your child is between ages 14-17 they get a whopping $16 dollars per week!
Now if you do the math, that means your 4 year old would be making $215 dollars a year,(I don’t remember having a piggy bank that big when I was 4 years old) while the oldest kids would be raking up $830 dollars per year. However, there is a catch to all of this cash exchange; at least 86% of parents expect their kids to EARN that money doing chores!
Now when I was a kid, it was pretty much a given that we kids did most of the chores like cleaning up our rooms without a paycheck, however we did get paid for other chores like pulling weeds and mowing the lawns, and trust me, even in my older years, I wasn’t making what a little 4 year old is making today. However, when I was in my early teens, I did earn some money in various ways including babysitting, (which I was only paid 50 cents an hour,) and later I worked at a restaurant in my home town starting with weekends, and later in my older years, after school.
How much money do you shell out to your kids for allowance, and what do they have to do to earn it?