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Does paying kids for chores teach the value of a dollar? Here’s what parents said about allowances:

  •  68 percent of Americans believe children should receive an allowance for completing chores.
  •  Parents providing kids with an allowance, more than half (54 percent) did so to teach their children money needs to be earned.
  •  22 percent wanted to teach their kids the value of money,
  •  12 percent said it was to teach them financial independence.

Here’s a list of the average rate of payment for chores for common household chores:

Chore

Average

Mowing the Lawn

$6.28

Cleaning the Garage

$5.20

Doing Laundry

$2.82

Cleaning a Common Area

(i.e. living room, dining room, kitchen, etc.)

$2.72

Be Responsible for a Pet

(i.e. feeding, walking, cleaning up after it)

$2.66

Vacuuming / Cleaning Floors

$2.55

Cleaning Surfaces

(i.e. dusting or washing countertops)

$2.20

Cleaning the Bedroom

$2.07

Doing the Dishes

$2.03

Taking Out the Garbage

$1.90

Setting the Table

$1.31

Making the Bed

$1.18

Parents and Family Play Key Role in Educating Youth

When it comes to learning about finances:

  • Nearly half of all respondents (46 percent) reported learning on their own, with 39 percent saying they learned from their parents and family members.
  • The number who learned from their parents grew to 48 percent for Millennials, showing a shift toward a greater parental responsibility for their children’s financial education in the new generation.
  • A majority of Americans said children should begin receiving money for chores completed, allowance or “free” financial support at a young age.
  • Nearly 40 percent of parents said between 8-10 years old is the right age, and one-third said it should start between the ages of 5 and 7.

Looking Beyond Chores: How Parents Reward Their Children

Rewarding children for good deeds and positive performance were also reported:

  • More than 60 percent of parents said they bought their child a gift to reward them for good behavior.
    • Women were more likely to reward a child for good behavior (64 percent) than men. (58 percent)
  • Forty-seven percent of Americans said they gave their child money for good grades.
    • Women were also more likely to give a financial reward for good grades (50 percent), compared to 43 percent of men.

Millennials vs. Boomer Parent:

  • Millennials (ages 18-35) were more likely to reward for good behavior (66 percent) compared to 59 percent in Gen. X (ages 36-51) and 61 percent in Baby Boomers (ages 52-70)
  • Baby Boomers were more likely to reward for good grades (56 percent, versus 47 percent for Gen. X and 41 percent for Millennials). This number rose to 100 percent in the Silent Generation (ages 71-88), with every respondent in this age group reporting having given a child a financial reward for good grades.

Interestingly, 12 percent of parents who are married also revealed they had bought a child a gift out of guilt, with this number rising to 19 percent for respondents who are single.

Greta Jenkins

Greta Jenkins

Greta Jenkins is a writer mom, nurse and a community volunteer. She is the author of various articles about home and family life and has been featured in parenting magazines and newspapers.
Greta Jenkins
https://imgsub.familiesonlinemagazine.com/uploads/2013/03/car-wash-kid.jpghttps://imgsub.familiesonlinemagazine.com/uploads/2013/03/car-wash-kid-150x150.jpgGreta JenkinsHot topicParenting AdviceActivities for Kids,Ages and Stages,Family Finance - Ways to Save Money,ParentingDoes paying kids for chores teach the value of a dollar? Here's what parents said about allowances: 68 percent of Americans believe children should receive an allowance for completing chores.  Parents providing kids with an allowance, more than half (54 percent) did so to teach their children money...Parenting Advice| Family Fun Activities for Kids