Our data shows that kids in the US earned a total of $26 billion in 2021, through a combination of their weekly allowance, payment for completing chores, and Giftlinks, which enable family and friends to send money directly to a child’s GoHenry account2.
However, this increase isn’t simply a result of handouts from parents and grandparents. Six out of ten (61%) young people no longer receive weekly allowance without being expected to complete tasks in return, and 40% have a part-time job of some description.
Nonetheless, traditional earning methods such as babysitting and waiting tables are falling out of favor. Over the last year it’s become more common—and more lucrative—to earn from home, rather than doing traditional part-time jobs.
- In 2021, 27% of US kids made money from investing in cryptocurrency
- More than one third (35%) of kids and teens are earning money from gaming, with 13 year-olds making the most, taking home on average $24.77 a month
- 34% are now earning from selling things on online marketplaces such as Etsy, Ebay, Depop and Vinted with an average monthly 'wage' of $14.67
- 43% of 10-year-olds are already making money from social media, on top of their allowance payments with $16.90 from kid-fluencing each month. This rises to 46% for 13-year-olds whose social media stardom is earning them a monthly average of $20.88
Kids Are Earning Money in Innovative Ways
The Future of Work for Generation Aspiration
1. Data was taken from a sample size of 52,068 GoHenry members in the US, who were active on their accounts between 1 January and 31 October 2021
2. Based on 52,068 active GoHenry users in the US, between 1 January and 31 October, 2021. Upweighting was completed by calculating the earnings from chores per GoHenry member (who used the feature) and multiplying that by the total population of children aged 6-18 in the US. These population estimates were drawn from the US Census Bureau and UN Department of Social and Economic Affairs (2019).