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Kids Are Getting Less Allowance. How Much is the 1% Getting?

Monkey with Money
Ben Davis / MIX 97-3

When Patty was growing up in Yankton, SD she would get around $1 a week as a young kid and about $10 a week in high school. She of course spent all her money at the “Ice House” and her weekly subscription to “Teen Bop” magazine.

According to a survey by Baltimore-based money managers T. Rowe Price, the amount of allowance parents give their kids each week is falling.

Comparing 2011 to 2013:

  • The percentage of parents giving an allowance of up to $10 a week fell from 77.3% in 2011 to 68.4% in 2013.
  • The percentage of parents giving larger amounts, between $11-$20 or between $21-$30, jumped sharply.
  • 4% of families gave between $41-$50 a week in 2013.
  • 1% of parents are shelling out between $91-$100 a week.

How much are you giving your kids?  How much allowance did you get as a kid?

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