Allowance by age against yellow and green background for Greenlight's allowance by age blog in 2022

Aug 25, 2022

Average allowance by age for kids in 2022

Highlights:

-An allowance is a set amount of money that parents give their kids on a recurring basis — such as every week, two weeks or month.

-Some families make allowances based on chores, which means parents pay their kids for doing chores like laundry, washing dishes or taking out the trash.

-In 2022 (YTD as of 07/29/22), the average weekly allowance for kids ages 5-19 was $12.76 for families who use Greenlight, the app that helps parents teach their kids financial responsibility.

What is an allowance — and why should kids get an allowance?

An allowance is a recurring amount of money given to kids, typically from their parents or caregivers. Many families use allowance as a tool to introduce money topics at an early age. Parents can teach kids about money through real-life experiences by paying kids an allowance. 

An allowance doesn’t have to be free spending money. It could serve as a way to teach budgeting, saving and financial responsibility. Especially when you have the right tools to help you — like Greenlight’s debit card and money app for kids and teens.

With Greenlight, parents decide how an allowance is paid out. Some parents will pay an allowance based on the completion of household chores. Others will pay allowance when they feel their child is ready to manage their own money.

Greenlight flexible allowance options with yellow coins and green bills background

Regardless of how it’s paid out, Greenlight helps kids learn to save, give and invest. Greenlight also helps parents teach them to manage their own money, build smart money habits and meet all their Savings Goals.

Average allowance for kids and teens — in 2022

Now that you know where to get started, you might be wondering how much allowance to give your kids. That depends on your family situation — or if you’re paying allowance for a specific purpose, like completing household duties or chores.

Greenlight allowance app for kids and teens with allowance history view and weekly recurring balance

A rule of thumb to follow is to give your kid $1 per week for each year of their age. If you have a 7-year-old, their allowance would total $7 per week. A 16-year-old would receive more, at $16 per week.

According to data collected in 2022 (YTD as of 7/29/2022), Greenlight found that the average weekly allowance for 5-year-olds was $5.98. Meanwhile, the average weekly allowance for 13-year-olds was $11.78. Lastly, at the top end, the average weekly allowance for 17-year-olds was $19.80.

Below is the average weekly amount paid by parents to their kids, categorized by age.


Age

Allowance

5 years old

$5.98

6 years old

$6.50

7 years old

$6.84

8 years old

$7.42

9 years old

$7.94

10 years old

$8.67

11 years old

$9.45

12 years old

$10.68

13 years old

$11.78

14 years old

$13.17

15 years old

$14.89

16 years old

$17.14

17 years old

$19.80

18 years old

$22.53

19 years old

$28.53


While the numbers shown above are an average of all Greenlight kids that receive an allowance, they seem to be on par with the rule of thumb mentioned earlier. Six-year-olds receive a little over $6 per week at $6.50, and 15-year-olds receive a little under $15 per week at $14.89.

So where does all of the money go? Greenlight kids have the option to spend their money with a custom debit card. When kids spend, they get cash back which automatically goes to Savings. They can also save any extra money — or even learn to invest it in the stock market!

Greenlight kids allowance app includes Spending, Savings, Investing, Allowance with parental controls

In fact, Greenlight kids have already saved more than $225 million collectively. They’ve also invested over $10 million, collectively. Woah! And for the generous kids, Greenlight also offers a ‘Give with Greenlight’ feature where kids can donate to the charities of their choice. 

Types of chores – 10 ideas to get started

Need some chores inspiration to get started? Below is a mix of a few of the most popular chores for Greenlight families — along with a few others to help you get started: 

  1. Clean your bedroom

  2. Take care of a pet

  3. Take out the trash

  4. Wash the dishes 

  5. Read a book

  6. Practice an instrument

  7. Train or practice a sport

  8. Wash the car

  9. Do laundry

  10. Study for a test

Greenlight kid smiling while completing chores for a partial payment as a Way to Pay allowance

Greenlight tip: Don’t be afraid to get creative with chores. We’ve seen some innovative options ranging from “Make tacos” to “Practice magic.”

Use Greenlight to teach kids and teens financial literacy — with chores and allowances

Connecting chores and allowance can go a long way. Just like Greenlight kids, your kids will learn the importance of saving and investing early and often. They’ll also learn about budgeting and how to allocate their money towards wants and needs. Lastly, if your teens check off chores for dollars, they’ll learn that working hard goes a long way. And when the time comes for a new job, they’ll be ready to take anything on.

Are chores separate in your family? That’s okay — at Greenlight you don’t have to connect allowance to chores. Just choose a day and decide how and when you’d like their payout to hit. 

You can even set it on autopilot for an effortless and consistent routine. Pay them a flat rate and pause at any time. By giving kids the opportunity to handle money on their own, they can practice for a bright financial future. 

Now, if you’re ready to onboard your family and try our comprehensive allowance app for kids — sign up for Greenlight today and get one month, on us.

More posts:

Phone screen with Greenlight’s mobile banking app and debit card with investing, Saving Goals and chores

Meet Greenlight — the virtual piggy bank for kids

Try today. Our treat.

After your one-month trial, plans start at just $4.99/month for the whole family. Includes up to five kids.

Read how we use and collect your information by visiting our Privacy Statement.