American children now receive an average of $52 per month in allowance, which is $36 more than their parents earned at the same age when adjusted for inflation. A Talker Research survey of 2,000 U.S. parents found that 78% believe their kids handle money responsibly, with 61% saying their children are more fiscally responsible than they are themselves. Three-quarters of parents provide monthly allowances, typically starting around age 10. Parents pay through cash (56%), digital apps (17%), or prepaid cards (14%). Higher-value tasks include babysitting siblings ($13), good grades ($12), and yard work ($11). Two-thirds give allowances to teach financial responsibility. (Story URL)
PHONE TOPIC: What did you have to do to earn your allowance as a kid?