Is $700.00 a Week a Good Amount of Allowance for Teenagers? (10 Thoughts)

Is $700.00 a Week a Good Amount of Allowance for Teenagers? (10 Thoughts)

Here's a question people must be asking: how much pocket money is enough for a child in modern times? However, I am not sure many parents will ask if $700 per week is enough allowance for teenagers. Then again, most people aren't like one online thread creator asking that question. As one can imagine, the Internet has some opinions about this.

Take Me With You

Allowance for Teenagers
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“Seven-hundred dollars a week equates to around $36,400 per year,” observes the first commenter. “My question is this: will you adopt me?”

Stop Trolling

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One gentleman is unimpressed with this silliness. “I think you are asking a question to get trolled, and you certainly deserve (to),” he states. “Or you're just a bad parent.” When you realize how much money some nepo babies‘ parents make, maybe this is unreasonable.

Is That All, Though?

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“I'm assuming your kid lives with you, pays no rent, no cell phone bill, no car payments, no car insurance, no health insurance,” rants another contributor. All these additional fees must make it more like $1,000 a week.

How Will They Gain a Work Ethic?

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A shocked teenager compares his more reasonable allowance. “I get $20 a week, and I am a teenager, (and) that is a lot of money,” claims the young man, who is adamant that teenagers like him “need to learn how to get a job and earn money for themselves.” Even 20 bucks sounds good to me — back in the '90s, I was still getting £2.50 a week when I was 16 years old!

Students are Nonplussed

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A university student cannot believe a teenager needs that much money to survive. He claims $700 a month is enough “for all the food I eat in a month, my phone contract, clothes, pens and paper supplies, textbooks, clubs I join, and all of that.” He remains baffled any teenager needs four times that amount.

Mid-Twenties and Happy

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An engineer who makes $80,000 a year says they live on half their after-tax income, the other half of which goes into savings and utilities. “I live off of around 20k a year in a major city and feel fairly comfortable,” says the nonplussed tech worker.

Emotional Spending

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One observer regrets being the only kid in their class without an allowance, though they also give some perspective. “Looking back, it benefits[sic] me a lot,” they explain. “I learned how to separate needs and wants, what is really necessary and what is not so necessary — and (to) avoid emotional spending.”

All Up Front

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A former teacher went to college with a colleague whose father gave him all his annual allowance in one lump sum. “The guy needed to learn how to spend money responsibly,” asserts the commenter. “I think I might be inclined to do the same.” She means doing the same with her own children or spending money responsibly — either works for me.

That's What You Call a Monthly Allowance?

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So, is $700 per month enough? “That really depends on you,” argues a teenager. “What kind of upbringing would you like your child to have? I knew a girl in high school who got $5000 per month.” The idea that there are teenagers with that kind of cash to burn is equally terrifying and hilarious.

First-World Problems

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One gentleman living on a meager budget is appalled. “I am an adult living in a foreign country who just started an entry-level job, and I barely make the equivalent of that a month,” he explains, “but then again, I don't reside in a first-world country.” Sadly, this is the case for 85% of the world's population.

This thread inspired this post.