Your Kid Got a Better Raise Than You Did Last Year
Your kid probably got a better raise than you did in 2018, according to a new study. Kids between the ages of 4 and 14 saw a 3.7% bump in their allowances. Whereas the average worker only got a 3% bump in their wages.
Kids also save way more of their money than adults. On average, kids save 42% of their money compared to 2.4% for adults. But kids' expenses are a lot lower than their parents' expenses.
Here are some chores, and how much the average kid got paid for them last year:
- Washing the car – $4.60
- Gardening – $4.34
- Cleaning their bedroom – $2.71
- Mopping – $2.33
- Cleaning the bathroom – $1.82
- Cleaning the kitchen – $1.72
- Vacuuming – $1.52
- Helping with dinner – $1.52
- Dusting – $1.52
- Looking after the pets – $1.48