How Much Allowance Should My Kid Get?

A weekly allowance can be an important tool to help teach your son or daughter about how to manage money.

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The average weekly allowance is now $30, according to a recent survey by the American Institute of Certified Public Accountants. If they saved it, kids would have enough cash to buy a used car within a few years. But kids aren’t banking most of their allowance. They’re spending most of it on outings with friends, digital devices and downloads, and toys, AICPA says.

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Lisa Gerstner
Editor, Kiplinger Personal Finance magazine

Lisa has been the editor of Kiplinger Personal Finance since June 2023. Previously, she spent more than a decade reporting and writing for the magazine on a variety of topics, including credit, banking and retirement. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.