America's kids are spoiled. At least this is what a survey conducted by Cookie magazine and AOL Money & Finance has shown. The study shows that 94% of parents believe American children, whole 55% of them their kids have something to do with it and are not totally innocent.

Apparently, children are given weekly cash allowance without being given any responsibility, such as house chores, and this happens one in five cases. 37% of parents participating in the survey admitted that they rewarded a huge accomplishment (like getting straight A's in school) with money, while just 4% of parents questioned claimed that part of the child's allowance went to charity.

Pilar Guzman, editor-in-chief of Cookie, stated: "With parents having children later in life, there is more disposable income floating around. It is our responsibility as parents to teach our children the value of a dollar, as well as the importance of giving to those less fortunate. Instilling these values in our homes and taking small steps around the holidays are the perfect ways to reinforce the importance of this message, even among our toddlers."

However, parents make a common front with 76% of them approaching the same methods with their children. For instance, 69% of parents insist that half of any money the child receives goes into a savings account.

The survey conducted by Cookie/AOL Money and Finance questioned over 1,500 online participants.

The poll also concluded that 40% of the parents use money or other tangible rewards to congratulate their kids for their good grades. In addition, 81% of parents surveyed said it is suitable to give cash to a child, while only 11% of parents put all the money into a savings account.

The survey also showed that 13% of kids earn $15 a week or more. However, opinions differ when it comes to the age that parents begin giving their children an allowance. 41% gave it between the ages of six and eight; 28% between the ages of nine and eleven; 18% at age twelve or older; and 13% between the ages of three and five. Most of these children (64%) earn their allowance by doing chores.

But there still seems to be some discipline, as 69% of parents take their children's allowance when they don't do their chores, or when they misbehave.

Children are given a savings account by 85% of the parents surveyed, 45% of them receiving it at birth and 39% by the time they turned fifteen (39%). However, only 11% of the parents have given their children ATM cards, and 59% do not plan on doing so until their children are sixteen.

Cookie is a family lifestyle magazine published by Conde Nast Publications, tailored to the sensibilities of parents with young children. Catering to a mom with a contemporary lifestyle, it covers fashion, travel, food, health and nutrition, home, and beauty in a modern way, giving moms permission to retain their "premotherhood" sense of style and adventure.

For further information, please visit http://www.cookiemag.com

AOL(R) is a global Web services company that operates some of the most popular Web destinations, offers a comprehensive suite of free software and services, runs one of the largest Internet access businesses in the U.S., and provides a full set of advertising solutions.

 ...