I’m not sure kids’ allowance is keeping up with the rate of inflation. This is why it saves to not have kids. I can barely keep myself on the payroll!
A new study found that the average kid between four and 14 years old gets $8-a-week in allowance. But that’s just the base salary. They also get paid extra for doing their chores, including . . .
1. Washing the car is worth an average of $4 extra.
2. Taking care of the yard, $4.
3. Cleaning their room, $2.
4. Laundry, $2.
5. Vacuuming, $1.50.
6. Taking out the garbage, $1.
7. Washing the dishes, $1.
The study also found the kids save about 37% of the money they make. Based on the $416 in just allowance at $8-a-week, that means they’re saving about $154 a year.