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Tweens and Teens
Reply to "Allowance/spending money for 12 year old"
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[quote=Anonymous]12 yr old DS's basic allowance is $5/week. But he's given the option to save it in "Mom & Dad's Bank" which gives a very high rate of interest. We pay interest on up to $100 of savings. Amounts over $100 are transferred to a regular bank. With his current savings level he's getting another $4/week. He uses it to go out to movies with friends, the occasional buying of snacks at 7-11, saving up for videogames. He rarely gets other cash since relatives don't typically give cash gifts. A couple times in the summer he might make some money house/plant sitting for neighbors.[/quote]
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