Is $20 a Week Too Much Allowance? Here’s What Parents Are Really Paying by Age

A $20 weekly allowance adds up to $1,040 a year, but current data show the appropriate amount varies widely by age. Parents can get more value from allowance by pairing it with clear expectations about spending and saving. (Pexels).

Parents trying to decide how much allowance to give their kids can quickly discover there is no universally accepted number. Is $5 enough for an elementary schooler, and does $20 a week become excessive for a teenager? Current data show that a weekly allowance can vary dramatically depending on a child’s age, responsibilities, and even which families are surveyed. Before automatically matching what another parent pays, it helps to understand what today’s numbers actually mean for your household.

What Parents Are Actually Paying