I almost started laughing when I found the article by Rooster Money stating that the yearly annual allowance for kids is $471. That is up 3.7% from 2018.

What was so funny to me is that when I was growing up chores weren't done for money, it was done so we didn't have a punishment from my parents for not helping to contribute around the house. The dollar figure of $471 is comical, my parents always provided for me and my siblings but close to $500 for doing some chores is crazy.

In the survey it shows that kids are getting better at saving, 42% of their weekly allowance is saved for a bigger purchase (mostly for electronics).

Top things kids SAVE for ...

Phones
Lego
Tablet
Nintendo Switch
Dolls/Figures
Xbox
Bikes
Books
Nerf toys
Computers
Top things kids SPEND on ...

Candy
Presents
Books
Apps
Lego
Xbox
Pokemon
Roblox (New entry)
Minecraft
Tithing
Top EARNING chores ...

Washing the Car, $4.60
Gardening, $4.34
Clean Bedroom, $2.71
Mopping the floor, $2.33
Clean Bathroom, $1.82