Saturday, August 25, 2012

New Data On Kids' Allowance In America Today

"Kids are raking in an average of $15 a week in allowance... While children generally receive a larger allowance the older they get, the average across all ages is $780 a year, according to a survey by the American Institute of CPAs... The AICPA's survey found that 61% of parents pay an allowance, and more than half of them starting making these payments to their kids by the time they're eight years old. Yet only 1% of parents say their child ever saves any of that money."

"Although many parents are quick to point out that their kids aren't getting a free ride. Almost all of the parents (89%) who responded to the survey said they expect their children to work at least one hour a week. On average, these kids work 6.2 hours a week."

You can read more at CNN Money HERE.

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