ADVERTISEMENT

Infographic: Allowances for kids? So old-fashioned

By  and 

Allowances may die out as millennials become parents, according to an August 2013 survey from financial services firm Country Financial.

While more than 70 percent of the 65-and-over crowd say kids should get an allowance, fewer than 60 percent of 18- to 29-year-olds feel the same way.

Yet the millennials who do think kids deserve an allowance tend to be more generous than the older generations.  While about 65 percent of those over 65 say kids should scrape by on less than $10 a week, fewer than half of millennials say the same. In fact, 38 percent of millennials (compared to 24 percent of those over 65) say kids should earn a more lavish allowance of $10 to $20 per week.

The national telephone and online survey polled 3,000 American adults. Results have a margin of error of plus or minus 2 percentage points and a 95 percent level of confidence. The charts below show, by age group, the percentage of adults who feel kids should get an allowance -- and what adults overall consider to be a fair weekly allowance.

Kids' allowances

See related: 8 financial experiences your kids need to have now, More infographics

To use the graphic on your site, use the following code:

 <center><a href="http://www.creditcards.com/credit-card-news/infographic-allowances-for-kids-so-old-fashioned-1701.php"><img alt="CreditCards.com infographic: Should kids get an allowance? And how much do they deserve?" border="0" src="http://www.creditcards.com/credit-card-news/images/infographic-kids-allowance-lg.jpg" /></a> </center>

Published: August 30, 2013


Join the discussion
We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

The editorial content on CreditCards.com is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company's business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.




Follow Us


Updated: 09-28-2016


Weekly newsletter
Get the latest news, advice, articles and tips delivered to your inbox. It's FREE.


ADVERTISEMENT