![]() There are regional variations in the going rate for pocket money. This represents an average of £10.38 per week – £5.73 per week more than they give their own kids.Īll of this suggests that today’s kids could make more money doing chores for their grandparents! In today’s money, parents would have earned £3,778.32 over the seven years. It may seem a lot, but today’s kids are actually earning less than half the amount their parents received as children. This means that on average, parents pay each of their children a grand total of £1,692.60 between the ages of 7 and 14. What is the average pocket money in the UK?Īccording to the research by, the average pocket money is £4.65 per week. A quarter of parents will continue to provide pocket money until their child is 18 years old. Teens, 15 years and older, might progress to a part-time job, or an allowance. The survey focused on 7-14-year-olds, which suggests that most children start to get regular pocket money by the age of 7 years. Kids shouldn’t have to spend their pocket money on essentials. ![]() Parents or guardians trust teenagers to manage enough money to cover travel, clothes, gifts, socialising and more. When pocket money is paid in return for chores, this teaches children the self-discipline required to work for the things they want to buy.Īn allowance is a larger amount of money, often paid monthly into a bank account. Some children will spend a little on treats, and save the rest towards more expensive toys. Usually paid weekly, in cash, pocket money enables children to learn how to manage money, and save. ![]() What is pocket money? Is it the same as an allowance?
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