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A New Survey Highlights Interesting Trends Concerning Parents Giving an Allowance to Their Kids
Northwestern Mutual ConsumerFeature
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READER SCRIPT
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WHO SHOULD KIDS GO TO, WHEN ASKING FOR AN ALLOWANCE TODAY? THE ANSWER MIGHT NOT SURPRISE YOU. ACCORDING TO A RECENT ONLINE SURVEY BY NORTHWESTERN MUTUAL, THEY SHOULD START WITH MOM. THE STUDY FOUND THAT MOMS ARE THREE TIMES MORE LIKELY TO GIVE THEIR CHILDREN AN ALLOWANCE. YET, DADS ARE MORE GENEROUS IN THE AMOUNT THAT THEY GIVE. INTERESTINGLY ENOUGH, THERE ARE REGIONAL DIFFERENCES: PARENTS IN THE MIDWEST HAVE THE TIGHTEST PURSE-STRINGS--WITH OVER HALF GIVING LESS THAN FIVE DOLLARS A WEEK TO A 10-YEAR-OLD--WHILE MOST SOUTHERN PARENTS WOULD GIVE UP TO THREE TIMES THAT AMOUNT. WHAT'S THE BEST AGE TO START GIVING AN ALLOWANCE? ACCORDING TO THE STUDY, 65-PERCENT OF ADULTS THINK THAT THE BEST CANDIDATES ARE AGES SIX TO 11. IRONICALLY, KIDS WHO RESPONDED TO THE SURVEY ARE MORE STRICT THAN ADULTS--AND WOULD WAIT UNTIL AGE 12 OR OLDER. ARE KIDS ACTUALLY GETTING MORE FINANCIALLY CONSERVATIVE THAN THEIR PARENTS? FOR MORE INFORMATION ABOUT ALLOWANCES AND OTHER FUN FINANCIAL TIPS AND TOOLS, VISIT "THE-MINT"-DOT-ORG.
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