This week, we asked the Invstr Community what activities they ask their kids to do to get their allowance. The winner by a slim margin was the 37 percent of Invstrs who give their kids allowance for cleaning their room. A clean room is vital to any house, yet if you look into most kids’ rooms they are as dirty as can be. Considering the disinterest kids have in cleaning their room, a strong incentive needs to be in place to convince them, and nothing better works than allowance which makes this a decent first place option. In second place is the 29 percent of Invstrs who ask their kids to wash the car to get their allowance. Washing a car is a tough chore, especially for a kid, but nothing is better than hard work. These parents really want their kids to earn that allowance, and the strenuous task of standing out in the sun and washing a car is one way to do that. One might assume that allowance is higher if a kid completes this chore, but regardless it is a good way for kids to earn their money, making this a good 2nd place option.
To close out the podium, we have the 17 percent of Invstrs who ask their kids to complete their homework to get an allowance. Homework is the one thing every kid dread, even more than cleaning their room, and it’s likely the most necessary chore a child needs to complete for their wellbeing. In order to get good grades and stay friendly with your teachers, you must complete your homework no matter how hard or boring it is. Many don’t consider homework a chore, however, and rather something that must be done, making this a reasonable choice for the bronze medal. In last place, we have the 14 percent of Invstrs who ask their kids to recycle to get their allowance. This is the most obscure option out of the bunch for many reasons, the main one being that most families don’t utilize their recycling bin much. A lot of things get thrown straight into the trash, and it’s hard to expect a kid to remember the difference. However, this is a habit that is worth rewarding with allowance, and it’s not surprising that some families are incorporating this into their household. In fact, as we enter the fight against climate change, allowance for recycling could become a lot more common. Despite that, it is uncommon at the moment, leading it to finish 4th place.
If your kid has allowance money he wants to use, check out Invstr Jr where they can start their investing journey from a young age! Have fun and see you next time with more poll results!
- The Invstr Team 🙂
