How much money should I give my 12 year old?
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How much money should I give my 12 year old?
Forget what you got as a kid—that’s out of date. Today, a key rule of thumb in setting allowances is paying a dollar a year: Pay $1 for each year of your child’s age. Under this scenario, your 8-year-old would get $8, while your 12-year-old would receive $12.
How much pocket money should a 14 year old get?
Average pocket money And the survey of more than 1,000 families found kids aged between four and eight (49 per cent) are more likely to get under $10 a week. Children aged between nine and 13 are most likely to get between $5 and $19 (55 per cent), while 14 to 18 year olds are receiving anywhere from $10 to $39.
What is an appropriate allowance for a 17 year old?
Mike Falco, the president of Falco Wealth Management near Philadelphia, recommends as a very rough rule of thumb $1 per week for each year of your child’s life; so a five-year-old would get $5 per week while a 16-year-old would get $16 per week.
