A good sign for the future? Report shows kids are saving allowance

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Some of us might be able to take a few tips from kids when it comes to saving money.

A new study shows children who get an allowance save 42% of their money on average.

This is based on a study of 30,000 4 to 14-year-olds by Rooster Money.

The study shows about 70% of parents say they give their children an allowance.

The average pay is just over $9 a week.

Washing the car, gardening and cleaning their rooms are the top 3 chores kids are doing for cash.

So what are they saving for? Electronics – with phones being the number one item.

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