DETROIT – A comprehensive study done by allowance and chore tracker app RoosterMoney revealed the national average allowance for children is $8.74 a week.
The data was provided by 10,000 RoosterMoney users in a survey. On average, a child brought in $454 annually. A similar poll by RoosterMoney in March indicated that children made $5.24 a week and $272.48 annually, making the current allowance numbers 67 percent higher than they were 10 months ago.
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The Bureau of Labor Statistics reported that the average weekly wages of adult full-time workers during the fourth quarter of 2017 was $724, 36 percent lower than the weekly average of $1,121 in the first quarter of 2017.
Both polls show that children are picking up healthy money habits are saving approximately half of allowance. Responsible futures aren't the only thing these children are building. Both polls show the number one thing children save their money for is Lego sets. Other high-ranking items children save for are books, bikes, Nintendo products and Minecraft.