Top 10 Most Lucrative Kids Chores This Summer, Revealed by RoosterMoney

A comprehensive new study of 20,000 4-14 year olds in the US reveals kids are set to receive $107 in allowance money this summer, how they're earning it and what they're saving for

News provided by

RoosterMoney

Jul 30, 2019, 07:46 ET

LONDON, July 30, 2019 /PRNewswire/ -- RoosterMoney, the allowance and chores app, reveals that kids are earning $8.24 a week, that's $107 over the summer, and $428 over the year. They're saving 35% of it, spending 65%, and earning it through an impressive range of household chores as they prepare for the summer holidays.

The Kids Allowance Report, taken from a sample of 20,000 US families reveals:

The most lucrative chores kids are EARNING their money from are:

  1. Washing the car - $5.76
  2. Gardening - $2.55
  3. Cleaning windows - $2.42
  4. Vacuuming - $1.75
  5. Walking the dog - $1.70
  6. Cleaning the bathroom - $1.69
  7. Mopping the floors - $1.68
  8. Tidying the bedroom - $1.48
  9. Dusting - $1.44
  10. Helping with dinner - $1.40

The top 10 things they're SAVING towards are big-ticket items:

  1. Phones
  2. Lego sets
  3. Nintendo Switch
  4. Dolls/Figures
  5. Books & Magazines
  6. Xbox
  7. Bike
  8. Tablets
  9. Headphones
  10. Watches

Other key stats from the Kids Allowance Report include:

  • 73% of parents give a regular allowance
  • Saturday is the most common day to give an allowance
  • $42 is the average given for birthdays
  • 11 years old is the most entrepreneurial age: they're the most likely to boost their income by selling old toys and clothes - averaging $32 per sale.
  • Top 3 everyday spending items: Magazines, Candy & Lego
  • Top 3 brands amongst 4-14 year olds: Lego, Apple & Nintendo

Will Carmichael, CEO of RoosterMoney says:

"It's great to see how kids are earning their money and the positive saving behaviors they're developing. We've always believed the key to building good habits lies in talking about money from a young age, and with the summer here, it's the perfect time to start having those positive conversations about money."

Data from the Kids Allowance Report, sampling 20,000 RoosterMoney users

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

SOURCE RoosterMoney

Related Links

https://www.roostermoney.com

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