How much pocket money should a 15 year old get?

How much pocket money should a 15 year old get?

“The average American family pays approximately 50 cents per week for each year of a child's age.” [mint blog] By that, a 14-year-old would get $7 per week. The world median annual household income is $9,733. The U.S. average household income is around $52k.

How much allowance should a 13 year old get?

Today, a key rule of thumb in setting allowances is paying a dollar a year: Pay $1 for each year of your child's age. Under this scenario, your 8-year-old would get $8, while your 12-year-old would receive $12. Adjust this general rule for other factors (your family finances or other issues).

How much money do most 16 year olds have?

You should be able to earn approximately $10,800 during the school year and $7,200 during the summer between the ages of 16 and 17, which would give you a total of $18,000 by the year you turn 18 (give or take a few hundred or thousand, depending on your state's labor laws for minors).

How much allowance should a 17 year old get?

About $20 per week is average for her age. Teach her how to save for things she wants and how to manage her money.

How much should an 18 year old have saved?

Of “young millennials” — which GOBankingRates defines as those between 18 and 24 years old — 67 percent have less than $1,000 in their savings accounts and 46 percent have $0.