pocket money

Just how much pocket money should you give to your child?

In many cases, the question is hard to answer, or at least depends on various factors, such as the financial condition of the family, the age of the child, among others.

Jason Higgs, Senior Deals Strategist at Bountii , delves into the importance of financial education from a young age and provides insights into...

• 92% of UK parents say the cost-of-living crisis has encouraged them to talk more openly about finances with their children
• 83% of parents give pocket money to their kids, 39% of which give pocket money “once a week”
• 58% of parents give their child their own debit card by the time they turn 12 years old

Legal & General surveyed over 2,000...

• Analysis of more than 119,000 families’ pocket money data reveals the top 10 most popular and top 10 highest-paid chores that will keep kids occupied once school’s out
• Not every child has a summer job, but 46% of parents now financially incentivise chores - empowering kids to earn through the holidays whilst helping tackle the family to-do list
• Tidying the bedroom
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• The NatWest Rooster Money Pocket Money Index, a study of over 125,000 children, is the most comprehensive analysis of the UK youth economy this year and reveals the trends shaping young people’s finances
• Kids’ average earnings increased 11% to £338.84 a year (or £6.42 per week),
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• EE - the UK's best network provider - reveals the first ever data rate card for chores, as a quarter of parents say they regularly share data with their kids instead of giving them pocket money
• Parents prepared to give 173 megabytes to children who wash the car and 158MBfor sweeping leaves – enough to stream around 20 minutes of YouTube videos
• Chores that help cut
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• The great rewards swap: 84% of British parents are turning to different types of pocket money to reward their children
• Modern kids, modern rewards: While 1 in 5 mums and dads still favour pocket money (23%), extra screen-time (18%) and in-
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Virgin Money has relaunched its innovative financial education programme, Make £5 Grow, with additional tools and resources designed to prepare schoolchildren and provide the skills they need to better manage their finances in the future.

Delivered in schools, Make £5 Grow is a free scheme which works with and encourages both younger and older children, to develop innovative business...

• Average weekly pocket money is down 23 per cent year-on-year from £6.48 to £4.99, new research reveals
• Mums and dads are feeling the pinch most from increasing energy and food bills; half would rather sacrifice spending on their own leisure activities to protect pocket money
• Halifax reveals the economic impact on pocket money over last 35 years

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• UK’S MOST ESTABLISHED ANNUAL POCKET MONEY INDEX REVEALS KIDS’ AV. POCKET MONEY HAS STAYED FLAT YoY - THIS IS DESPITE INFLATION HITTING A 30-YEAR HIGH
• KIDS ARE TURNING TO SIDE HUSTLES AND GOOD GRADES IN RECORD NUMBERS TO TOP UP EARNINGS
• NOT ALL BAD
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