Kids’ average allowance: $15. Plus extra cash for goodies

Simple question: How much of a weekly allowance do you give your kids?

According to a survey from the American Institute of CPAs, which presumably knows a thing or two about how we use our money, the average allowance these days is $15.

Seriously. Fifteen bucks.

And as if that wasn’t an eye-opening enough number, the CPAs also say that kids aren’t even saving their cash. They tend to spend it as quickly as they receive it.

“These findings make clear that it can pay to be a kid,” says Jordan Amin, chair of the institute’s National CPA Financial Literacy Commission. “Parents need to make sure they’re also passing along financial sense with those dollars and cents. Earning, budgeting and saving are all important lessons that can be tied to allowances.”

The survey finds that 61% of parents pay an allowance, with more than half starting by the time their kids are 8. But only 1% of parents say their kid saves any of that money.

Eighty-one percent of parents say they have discussed good money management with their young heirs, which sounds pretty good. But it’s less than the 95% who discuss good manners, 87% who discuss good eating habits and grades, and 84% who discuss the dangers of drugs and alcohol.

And highlighting what chumps many of us are (myself included), the survey finds that parents who pay allowances are more likely to cover other costs for their kids. Nearly 90% of parents who pay an allowance also pick up other discretionary costs, including sports and hobby expenses, cellphone bills and music downloads.

“As parents, we feel a strong commitment to our children and ensuring they have all that they need to succeed,” says Amin. “One of the best gifts we can give them is a solid education on managing money.”

Or another thought: Teach them that to make money, they have to earn it.

Son, if you’re reading this, the car could use a washing.