RoosterMoney Reveals Top 10 Most Lucrative Kids' Chores This Summer

LONDON, July 17, 2018 /PRNewswire/ --

RoosterMoney, the allowance tracking app, has released the latest 'Kids' Allowance Report' revealing children are set to earn $110 in allowance this Summer and how they're going to earn it. The report also gives a valuable insight into kids' savings habits as they're now saving 37.3% of their allowance.

Children are picking up lasting money habits earlier than ever*, and RoosterMoney is showing that a strong allowance routine is a great way to instill positive money habits early on...

• Average weekly allowance is $8.43 ($110 over Summer) 
• Top 10 most lucrative chores revealed below 
• Kids are saving 37.3% of their allowance 
• The average savings goal is worth $140 
• Top 5 things kids are saving for revealed  

Top 10 most lucrative chores (average per chore): 

• Mowing the lawn - $8.06
• Washing the car - $5.05
• Gardening - $2.91
• Cleaning windows - $2.84
• Mopping the floor - $2.17
• Cleaning bathroom - $1.85
• Cleaning kitchen - $1.67
• Tidying bedroom - $1.66
• Looking after pets - $1.65
• Hoovering - $1.60

Average weekly allowance by age: 

• 4 - $4.41
• 5 - $4.48
• 6 - $5.00
• 7 - $6.83
• 8 - $7.09
• 9 - $7.18
• 10 - $8.02
• 11 - $9.18
• 12 - $10.05
• 13 - $10.95
• 14 - $12.02

Kids are earning some healthy sums and the good news is that they're saving 37.3% of it. This is just as well, as the average savings goal is worth a hefty $140.

Top 5 things kids save for: 

• Tablets
• Lego
• Cell Phones
• Nintendo Switch
• Xbox

For more insight into the family allowance economy check out our full Allowance Report:

https://www.roostermoney.com/pocket-money-resources/allowance-report-us

Will Carmichael, RoosterMoney CEO says:

"The Allowance Report offers a fascinating glimpse into the money habits of young earners across the country. The top chores list gives us an insight into the inner workings of the household economy, but ultimately it's about getting children into good money habits as early as possible, and these savings figures show that's beginning to happen, which we're delighted to see." 

* https://www.moneyadviceservice.org.uk/en/corporate/adult-money-habits-are-set-by-the-age-of-seven-years-old-shows-new-study 

Data from the Allowance Report, sampling 10,000 RoosterMoney users, 01/04/18 - 30/06/18.

Contacts: James Kassam, [email protected] , +44(0)7917508614

SOURCE RoosterMoney

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