Photo: Flickr / amboo who?
Today’s children get enough allowance annually to buy an iPad and still have money left over, an American Institute of CPA’s survey revealed.The average American child receives $780 a year in allowance, or $65 a month. And only 1 per cent of parents said their children save their allowance, the survey showed.
Of the parents surveyed, 61 per cent said they gave their child an allowance. Of that group, 89 per cent required their children to perform some sort of chores to earn the cash.
$780 is a hefty increase from 2000, when the average 9-year-old made $7 a week, or $364 a year in allowance, a Nickelodeon/Yankelovich Youth Monitor survey from the time showed.
So at least the kids aren’t being handed that money with a sense of entitlement. They have to get their hands dirty first.
Business Insider Emails & Alerts
Site highlights each day to your inbox.