How much allowance did you get as a child? A dollar a week? A half dollar a week? You may be surprised what inflation has done to fill a child’s piggy bank. The Harris Poll surveyed U.S. adults, asking them how much they thought was an appropriate allowance for children in three different age groups. Here is the overall response for the “Allowance Index”:
- $4.10 a week for ages 4 to 9
- $8.70 a week for ages 10 to 13
- $16 a week for ages 14 to 17
Hint to kids: When asking for an allowance, go to your dad. Dads are looser with the purse strings than moms.
- Ages 4 to 9: $4.70 men, $3.50 women
- Ages 10 to 13: $9.90 men, $7.60 women
- Ages 14 to 17: $17.90 men, $14.20 women
Half of Americans say they received an allowance when they were growing up. Among those with children ages 4 to 17, 60 percent say their children currently receive an allowance. 90 percent say an allowance is an important way for a child to learn about money. 86 percent say children should only get an allowance if they work for it, primarily by doing household chores. 74 percent say that when a child is naughty, the allowance should be docked.