- Money fact Number One: Studies show the average 'tween' gets about 9 bucks a week for an allowance. Allowances are a great way to teach kids how to manage money. But how much is too much? Experts say the rate should depend on which expenses you expect your child to pay for. So, if you want your kid to buy their own movie tickets and snacks, their weekly allowance should reflect this.
- Money fact Number Two: High schoolers typically work 20 hours a week at their part time job. While a part time job is a great way to teach kids about money, 20 hours a week is too much! Studies show that children who work 20 hours or more each week do worse in school than kids who work less than that. So, have your kids cut back to 10 hours. If they're worried about losing money, tell them this: Although they'll lose 2 thousand bucks by cutting their hours in half, they'll make 30 thousand dollars more when they get out of college. Why? Because all that extra studying will help them land a great full time job.
- And a final fact about kids and money: Children can develop brand
Hey parents, are your kids 'normal' when it comes to money? Do you give them the right amount of allowance? Are they working too many hours at their part time job? Here are some facts about kids and money. We found these in Money Magazine.