Allowance is going high-tech.
In 2017, children between ages four and 14 received an average of $454 in allowance money, which works out to an average of $8.73 per week.
Now, some parents are turning to app-controlled debit cards. Parents can transfer money and see where and how much their kids spend.
GoHenry lets you set automatic allowance transfers and spending limits.
Your child can complete chores for extra money.
Greenlight is another option that allows parents to select money kids can spend anywhere. It also lets you give your kids a "parent-paid" interest rate when they save.
Most of these apps charge monthly or annual fees but generally don't charge extra for loading cards with cash.