Poll: Making That Money 💰

This week, we asked the Invstr Community what their opinion is on allowance for kids. The winner, by a slim margin, was the 39 percent of Invstrs who believe that the allowance should rely on the chores completed. Chores are one of the best ways to build responsibility in a child, and it’s a reasonable amount of work for a kid. For children, there are little to no ways to make money legally but linking allowance to their chores allows them to experience the hard work necessary to make money in the real world. With this being a practical solution, it’s no surprise that this holds the first-place spot. In second place is the 29 percent of Invstrs who believe $10 per week is the typical weekly allowance. This is a decent amount that doesn’t overpay your child while also being affordable under a family budget. Although it might be a bit inconsistent, it makes for a smart 2nd place vote.

To close out the podium, we have the 20 percent of Invstrs who believe $20 per week is a reasonable allowance for children. 20 dollars allows children to have access to more financial decisions, and it’s a good middle ground in the poll. However, $20 could be a bit too much for a kid and more for a tween, making this a good bronze medalist. In last place is the 12 percent of Invstrs who believe $30 per week is the better allowance for kids. 4th place suits this vote well as many families can’t afford to sustain a $30 allowance, and it might be too high for children to take care of. $30 seems more like a reward as opposed to a weekly allowance, but it can be utilized in special cases.

If you have some allowance money that you want to invest, make sure to open an Invstr Jr. account! Have fun and see you next time with more poll results!

The Invstr Team 🙂

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Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

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Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

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