New study reveals how much allowance kids are getting

By Debra Fine - Producer, Jane King

JACKSONVILLE, Fla. - Many American kids are getting an allowance and putting much of it away in savings. A study by Rooster Money reveals how much allowance kids got last year, and what they did with it. 

They looked at 30,000 kids aged 4 through 14. They found  smart money habits can start young. 

Researchers say the average allowance paid last year was $471, or $9 a week. They say kids saved 42 percent of that. 

Most of the kids did work around the home to earn the money.

At least 69 percent of parents gave a regular allowance. 
 

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