Average Kids’ Weekly Allowance Now at $37

The following is excerpted from an online article posted by Wells Fargo Newsroom.

A recent survey conducted on behalf of Wells Fargo Bank found that 71% of parents with children ages 5 – 17 give an average weekly allowance of $37, yet 51% of parents struggle to talk about money in a way their kids will understand.

The survey found that 71% of parents with children ages 5 – 17 give allowances.

The survey sampled 1,587 U.S. parents — aged 18 and older with at least one child between 5 and 17 years of age in the household — were surveyed online in English, as part of Ipsos Omnibus shared survey program. The results of this research have a credibility interval of plus or minus 3.0 percentage points for all respondents. Respondents were asked questions about their child in one of the following age groups: 5 to 8 years of age, 9 to 11 years of age, 12 to 14 years of age, or 15 to 17 years of age. If they had more than one child, they were randomly asked about only one of the age groups.

The study also revealed that while 73% of parents who provide a weekly allowance use cash, P2P (peer-to-peer) payment methods, such as Zelle® or Apple Pay®, are also popular. In fact, 24% of parents giving an allowance now use P2P payments, while 20% of parents give an allowance through direct deposit to a bank account, and 14% distribute an allowance through a pre-paid debit card.

Most parents (85%) surveyed believe that giving their kids an allowance helps them learn about spending, but many (65%) feel it is difficult to step back and let their kids make their own money mistakes.

Source: Wells Fargo Newsroom
https://newsroom.wf.com/news-releases/news-details/2025/New-Wells-Fargo-Study-Shows-Parents-Give-Their-Kids-an-Average-Weekly-Allowance-of-37/default.aspx