The Annual Kids’ Allowance Report: Average over 2017 was $8.74 a week

A comprehensive new study reveals how much allowance kids received last year, and what they did with it.

RoosterMoney, the allowance app and chore tracker, can reveal that kids received $54 this Christmas, and encouragingly, they’re set to save 43% of it. This is in stark contrast to the latest statistics showing adults are only managing to save 5.4% of their income.*

Children are picking up lasting money habits earlier than ever**, and RoosterMoney is showing that a strong allowance routine is a great way to instill positive money habits early on…

- 70% of parents gave a regular allowance last year

- Average weekly allowance is $8.74 ($454 a year)

- Average reward for good behavior is $3.71

- Average saved is 43%

Top things to SAVE for:

  1. Lego
  2. Phones
  3. Dolls
  4. Fidget Spinners
  5. Tablets
  6. Nintendo Switch
  7. Xbox
  8. Bikes
  9. Books
  10. Minecraft

Top things to SPEND on:

  1. Presents
  2. Books
  3. Candy
  4. Apps
  5. Fidget Spinners
  6. Lego
  7. Pokemon
  8. Tithing
  9. Minecraft
  10. Xbox

Top EARNING chores:

  1. Babysitting $12.44
  2. Gardening $9.93
  3. Looking after cats $5.57
  4. Washing car $4.83
  5. Vacuuming $2.57
  6. Emptying trash $2.42
  7. Tidying room $2.39
  8. Looking after dogs $2.24
  9. Laundry $2.21
  10. Washing dishes $1.74

Most entrepreneurial age group: 10 year olds - most likely to boost their income by selling old toys and clothes - averaging $27 per sale.

Will Carmichael, RoosterMoney CEO says: “44% of what we do every day is put down to habits. Starting to engage your kids early by creating teachable moments around money can help cement positive money habits that will stick with kids for a lifetime. The New Year can be a great time to kick start things with an allowance and saving routine to encourage your kids to make considered choices about how they use their money.”

You can read our top tips on teaching kids about money here:

***All other data taken from the Allowance Index, sampling 10,000 RoosterMoney users, covering 01/01/17 to 02/01/18.

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