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Do you give your child an allowance? Then read this!

by Randy Allen

Do you remember how much your parents gave you as an allowance?  How much money do you give your children each week?

Do you remember how much your weekly allowance was when you were a kid?

If you’re thinking around $10 or $15 you would be in the minority today.

The number of kids that are bringing in a weekly allowance of above $20 is rising with some kids adding $50 and $100 to their piggy banks each week. As the economy is slowly starting to rebound kids are benefiting from parents feeling like they have a little extra to give out.

In some families, giving their kid a little weekly stipend means the kid is now responsible for some of their own things - like buying their own clothes.

While only 1% of parents are giving their kids $100 a week, the average is $16.25 a week or about $65 a month.