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Abigail Breslin Makes $13 a Week
At the premiere of her latest movie, "My Sister's Keeper," she told reporters that she recently got a $1 raise. "I get $13 [a week] now, because I'm 13," says Breslin.
Breslin, who lives with her parents and two brothers, might be a millionaire movie star, but her parents are still teaching her to be financially responsible -- chores and a weekly allowance are status quo for most kids, famous or not.
So what, exactly, is a fair allowance for kids? Breslin's parents go the dollar-a-week-per-year route, so Abigail got a raise after her last birthday. But there really isn't a one size fits all way to attack allowance. Here are some reasonable tips for deciding on an amount. Consider:
- the age of your child
- your own income
- what your child's friends are getting
- what you expect your child to pay for
About.com has an allowance calculator for parents who like to do things the way their parents did. So, for instance, if you got $5 a week when you were a kid, it'll tell you the equivalent amount today.
How do you handle allowance in your house?