Question of the Day: For the two-thirds of kids who get an allowance, what's the average weekly amount they receive?

|
May 10, 2020
|
Question of the Day, Budgeting, Savings

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? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (from MarketWatch): 

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.

----------------------------

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!

---------------------

Want to be more mindful about how you spend your allowance? Start with this NGPF INTERACTIVE: What Kind of Spender Are You?

---------------------

Let us know about your experience with NGPF in our year-end survey

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.