MINNEAPOLIS (WCCO) — It’s something kids look forward to and parents struggle to find a balance: the allowance.
Now, a new survey shows the average allowance for American kids, and it may be higher than you think.
RoosterMoney, a mobile piggy bank and allowance manager app, says the average yearly allowance for kids, ages 4 through 14, last year was $471.
That comes out to just over $9 a week. That’s 3.7 percent higher than the average weekly allowance in 2017, which was $8.74 a week.
Researchers also found kids saved on average about 42 percent of their weekly allowance, saving it mostly for electronics.