Saturday, December 03, 2005
Baby Boomers Cut Kids' Allowances
America's booming economy may be good for adults' wallets, but not for kids' piggy banks. According to a recent survey by IHateFinancialPlanning.com, only 43 percent of American adults give their kids an allowance. Surprisingly, 60 percent of those same adults report receiving an allowance as a kid!
Conducted by NFO Research, Inc., the IHateFinancialPlanning.com survey of 1,013 adults, ages 18 - 64, also revealed that 63 percent of kids who do receive a weekly allowance get $5 or more and 36.8 percent receive $2 or less. More than 72 percent of American adults expect their kids to do household chores regardless of whether they receive an allowance or not; 27 percent give an allowance for extra chores, such as mowing the grass or shoveling the driveway and steps.
Conducted by NFO Research, Inc., the IHateFinancialPlanning.com survey of 1,013 adults, ages 18 - 64, also revealed that 63 percent of kids who do receive a weekly allowance get $5 or more and 36.8 percent receive $2 or less. More than 72 percent of American adults expect their kids to do household chores regardless of whether they receive an allowance or not; 27 percent give an allowance for extra chores, such as mowing the grass or shoveling the driveway and steps.
# posted by ADMIN : Saturday, December 03, 2005
