New Jersey Parents, How Much Are Kids Earning In Allowance?

When you were a kid, did your parents give you an allowance? Do you (or did you) give your kids one?

Whether it was taking out the trash, getting the mail, folding your laundry, or vacuuming, helping out around the house has always been a way to teach responsibility and keep things running smoothly.

How Much Do Kids Really Earn From Their Allowance?

Security National Bank asked parents in a recent survey if kids should get an allowance, and here's what they had to say.

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According to a recent survey, a large percentage of parents say yes.

It turns out, 8 out of 10 parents polled say they do give their kids an allowance.

Now, of course, the big question is how much money are we talking about?

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Tackling that big pile of laundry left on the kitchen counter is just one of the things on the list of things to do!

How Allowances Teach Kids Financial Skills And Responsibility

Experts say children can grasp basic money concepts as early as age 6-7, so it's good to start talking about the value of money early on, with an allowance, teaching kids about budgeting, saving, and working hard.

The survey showed that the average allowance for kids in the U.S. is $19.39 per week.

There's no right or wrong amount.

It's important to note that finances, your child's age, and how many kids you have are all important factors. It's more about teaching kids responsibility.