RE/MAX 440

Mary Southern
Home
My Listings
View Area Listings
Inside Tours
Mortgage Info
Community Info
School Info
Helpful Links
About Me
Testimonials
Contact
Login
Blog



Mary Southern
4092 Skippack Pike, P.O. Box 880 | Skippack, PA 19474
Phone: 610-207-2110 | Office Phone: 610-584-1160 | Fax: 484-991-1837
Cell: 610-207-2110 | email: mary@marysouthern.com
< Back to Mary's Blog

Teaching the Value of a Dollar: Average Allowances for Household Chores

September 27, 2016 2:09 am


One of the more effective methods of teaching financial responsibility to children is offering an allowance in exchange for household chores. Providing a reasonable amount, however, is key to ensure the child has a realistic understanding of “the value of a dollar.”

The going rates for the most common chores, according to the COUNTRY Financial Security Index, are:

Making the Bed - $1.18
Setting the Table - $1.31
Taking Out the Trash - $1.90
Doing the Dishes - $2.03
Cleaning the Bedroom - $2.07
Cleaning Surfaces - $2.20
Cleaning Floors/Vacuuming - $2.55
Taking Care of a Pet - $2.66
Cleaning a Common Area - $2.72
Doing Laundry - $2.82
Cleaning the Garage - $5.20
Mowing the Lawn - $6.28

When is the best time to start offering these allowances? Survey respondents say as early as age 5, and ideally when the child reaches age 8.

Source: COUNTRY Financial
 

Published with permission from RISMedia.

Add a comment



FacebookLinkedinYoutubepinterest