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Am I Paying the Right Amount for My Kid's Allowance?
Have you set the amount of your child’s allowance just right? This quiz examines your kid’s money management habits and your own to help answer that question.
Did you skip a question?
Please answer the question(s) marked in red.
1) Which of the following statements best describes how your child spends his or her allowance?
My child usually spends the allowance and asks for money by the end of the week
My child usually makes the allowance last for the entire week
My child usually has money left over at the end of the week after purchases, savings, and charitable contributions
2) Who usually buys toys, music, games, and books: you or your child?
I do or another adult does. My child’s allowance does not cover items I want him to have
My child has a spending plan that helps him save enough to buy what he wants eventually
My child buys what he wants with each week’s allowance
3) Which statement best describes your child’s savings habits?
My child rarely saves any allowance money, mostly because the amount is too small
My child sets aside part of the allowance each week for savings
My child saves most of the allowance, even after buying what he or she wants
4) Which statement best describes your child’s giving habits?
My child donates little or nothing because the amount would be insignificant to a charitable organization
My child sets aside money each week for charity
My child frequently gives over half the allowance to charitable organizations. My child also gives money to friends and buys things for them
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