This little boss needs to talk to a financial planner!
All of those chores are paying off.
The average kid’s allowance rose more than American workers’ salaries in 2018.
Up 3.7% for the kiddos, and roughly 3% for the adults, according to MarketWatch.
Chore-tracking app RoosterMoney sampled more than 30,000 children for the results.
Think from 4 to 14 years old.
Kids in this age range made an average of $471 a year or just over $9 per week.
A good chunk came from cash received as Christmas gifts, which came out to an average of $58.
But most money was made the old-fashioned way; by putting in the work.
And parents were happy to reward those good habits.
69% of parents in the U.S. gave a regular allowance last year.
And kids did a good job of saving their money; better than the adults.
They saved 42% of it.
Those older and wiser saved just 2.4%.
Kids saved up for the usual suspects; phones, games and tablets.
But some chores paid off more than others.
Washing the car earned kids $4.60, gardening came in a close second, and cleaning the bedroom rounded out the three top earning chores.
They’ll need a bigger piggy bank!
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