in #CASE you missed it… What Kids Are Getting For Allowance

in #CASE you missed it…  What Kids Are Getting For Allowance

Kids are putting their allowance away for things they really want

While your parents may have thrown you a few coins each week for an allowance, kids these days certainly seem to be making out pretty well. According to RoosterMoney, an app that tracks kids’ allowance and chores, 69%% of parents say they gave their kids an allowance last year, with the average weekly amount being $9.06, or $471 a year.

Now it may suck for kids to have to do chores to get some of that dough, but it sure sounds like they are getting paid well. The report notes the top earning chore is washing the car, which can earn them $4.60, followed by gardening, $4.34 and cleaning their bedroom $2.71

And it turns out not all of those kids are running to spend their money as soon as they get it. In fact, kids are likely to save 42% of the money they’ve earned, which is better than the average adult, who tends to only save about 2.4% of their income. As for what they're saving it for, phones are the top items, followed by LEGO and when it comes to spending, candy is the most popular purchase, followed by presents.

Top Things Kids Save Their Allowance For

Phones

Lego

Tablet

Nintendo Switch

Dolls/Figures

Xbox

Bikes

Books

Nerf toys

Computers

Top Things Kids Spend Their Allowance On

Candy

Presents

Books

Apps

Lego

Xbox

Pokemon

Roblox (New entry)

Minecraft

Tithing

Do you give your kids an allowance?

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