Average American Kid's Allowance: Ipad, 3 Kindles and More!
Another tip: "Break up" the allowance. Give your kids a valuable lifetime financial lesson by allocating 25% of an allowance for short-term purchases, 25% for "impulse" purchases and 50% for long-term savings such as college or a car.
More on kids and money:
Piggy bank prosperity
Making your kids money savvy
More American families taking extreme measures to pay for college
--By Brian O'Connell