Allowance: Kids make average $30 a week but what lessons are learned

The average American kid's allowance is enough to snag the latest iPhone after a few months of socking away dollars and dimes.

Published 3:46 PM EDT Oct 7, 2019How much is the average American kid's allowance? Enough to snag the latest iPhone after a few months of socking away dollars and dimes.

Fifty-two percent of Americans say chores should be required: The kids should have to take out the trash, wash the dishes or fulfill other household tasks to earn their spending money. Those who have to work for their allowance tend to reap more, earning $6.11 an hour on average, a 38% jump from the typical $4.43 kids saw in 2016.

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