Remember loosing a baby tooth as a kid and quickly putting it under your pillow so the Tooth Fairy could pay you a visit and pay you in the process? It looks like the Tooth Fairy's payouts have hit a record high.
A study by RoosterMoney revealed that kids receive an average of $8.44 every week in allowance, boosted by an increasingly generous Tooth Fairy, who has hit a new high of paying out $4.90 per visit. In addition to an allowance and the Tooth Fairy cash, kids are boosting their income with some chores. The top earning chores are gardening, paying $4.79, washing the car, paying $3.72, and washing windows, paying $3.15.
"Our Kids' Allowance report provides a fascinating insight into the workings of the family economy, and highlights the opportunity to develop positive behaviours at a young age. It's extremely encouraging that wider consumer confidence dips aren't negatively impacting family allowance routines. The research shows it's these early routines that help kids develop strong money habits that stay with them into adult life, ensuring they're prepared for their future," says Will Carmichael, CEO of RoosterMoney.
Kids are also consistently saving an impressive 34 percent of their money.
Read The Kids Allowance Report in full at RoosterMoney.com.