Answer: The average child’s allowance
Clues: “Chore” and “Payout”
According to a new report, the average child’s allowance is $52 a month, or roughly $13 a week.
Of course, that could vary a lot based on how old the child is, how much work they’re putting in and how tight money is in the house.
For parents in their 40s, that would be the equivalent of about $22 per month in 1992, or $5.50 per week. For grandparents in their 70s, that would be about $5 per month in 1962, or $1.25 per week.
If you were making a lot less than that, then yes, you can grumble about how teenagers these days are overpaid.
One place older folks do have a gripe: Chances are, children in previous generations were tasked with doing a lot more for their allowance than today’s teens who may get by with cleaning their room and doing the dishes.
Either way, an allowance is educational:
78% of parents say their children can handle money responsibly and 61% admit their kids are more financially responsible than they were at the same age.
56% of parents still hand over cash but nearly a third have embraced alternatives. 17% pay their kids through digital payment apps like Venmo, and 14% of parents use preloaded debit cards designed for kids.
Others have abandoned currency entirely and compensate their children in experiences or screen-time instead.