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Kid’s Allowances $$$!

Photo Illustration by Alex Wong/Getty Images

A survey by coupon site vouchercloud.net suggests that today’s kids are raking in a lot of dough when it comes to getting an allowance. Parents who were polled said that they hand out something like $113 a month to their kids ages five to ten, which works out to around $1,360 annually. This doesn’t count other expenses that include toys, clothing and out-of-school lessons. Furthermore, there is speculation by some financial analysts that the figure is closer to two grand a year with some high-income parents doling out as much as $5,000 annually. Asked why they do it, 77 percent said the money was an allowance, six in ten said they paid their kids for achievement and 55 percent admitted it was a bribe to get their youngsters to behave. 45 percent of parents surveyed say they give out more money than they really want to but feel they have to compete with other parents.

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