Having kids pitch in and help out around the house by doing chores is something most parents do and often look for guidance when trying to figure out age-appropriate chores for their children. Many parents incentivise their kids with an allowance for doing different chores around the house but are often also left struggling to figure out what a 'fair price' is depending on the chore that is being done.
RoosterMoney is an allowance and chores app that recently released The Kids Allowance Report that reveals how much the average American child is earning in an allowance for different chores. If you're on the fence about what to pay your kids for helping around the house, or even if you want to pay them, this guide may be helpful to you.
The survey found that 73% of parents pay their children some sort of allowance on a regular basis, with the average weekly allowance totaling $8.24. Of course, the older a child is the more they tend to be given, with kids as old as 14 getting on average just over $11 per week.
The chores that parents are paying the most for are the ones that require a little more effort and skill. Washing the car will earn your child on average $5.76, while gardening will pay $2.55 and cleaning the windows $2.42. Parents are paying, on average, $1.75 to get their kids to vacuum the house while walking the dog will earn them $1.70. Other household chores that kids are earning anywhere from $1.40 to $1.70 are helping with dinner, tidying their rooms, dusting, mopping and cleaning the bathroom.
The survey also found that kids are often saving their money for big-ticket items like phones, lego sets, and the Nintendo Switch. They're also saving up for dolls or figurines, books, and magazines, video game consoles like the Xbox, bikes, tablets, headphones and even watches.
"It's great to see how kids are earning their money and the positive saving behaviors they're developing," Will Carmichael, CEO of RoosterMoney told PR Newswire. "We've always believed the key to building good habits lies in talking about money from a young age, and with the summer here, it's the perfect time to start having those positive conversations about money."
Not every parent pays the same for every chore, and many parents don't pay at all, but RoosterMoney gives parents the opportunity to see what the "going rate" is if they want to start using financial incentives with their children.