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The average allowance for children ages 4-12 is $6/week.Next question
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Key TakeawaysPrint version
More than 60% of American children receive an allowance, so chances are that yours do too. Find out how you can use allowances to teach your children how to handle money responsibly now and in the future.
- Experts suggest that young children’s weekly allowance should be 50 cents to $1 for every year of their age, but rates can vary by where you live and other factors
- Keep an eye on the current allowance rate, but adjust your child’s allowance based on what you think is appropriate for their maturity or spending needs
- Have a conversation with your children about why they are receiving an allowance and how it relates to parameters including frequency, chores, good grades, etc.
- Help teenagers manage their money by implementing a budget or spending plan