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NextGen Magazine

 
 

Kids' Allowances Grew Faster Than Adults' Salaries Last Year

By:
Chris Gaetano
Published Date:
Jan 9, 2019
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The amount of money parents give to kids grew faster than the money their companies gave to them, as allowances outpaced salary growth in 2018, according to MarketWatch. RoosterMoney, an app that lets kids track their chores, reported that children between 4 and 14 saw their allowances grow by an average of 3.7 percent last year, now totaling about $471 annually or $9.06 per week. In contrast, salaries for adults were found to have increased by 3.2 percent in the same time period, according to Bloomberg (though the real impact might be lower, given a 1.9 percent rate of inflation in 2018).

For kids wanting to tap into this growth, MarketWatch said that the five most lucrative chores, from greatest to least, are washing the car, gardening, cleaning their bedroom, mopping the floor, and cleaning the bathroom.