Children’s pocket money at seven year high

18/08/2011

Adults may be suffering from rising inflation, food bills and energy prices – not to mention a stagnant annual wage – but the good news is - children’s pocket money has risen for the first time in SEVEN YEARS.

Pocket money is now an average £6.25 a week, meaning the typical child now has an extra 36p – or £18.72 a year – to spend. This is up from £5.89 in 2010's.

This recent six per cent rise has finally broken the seven year piggy bank recession.

Although, it still doesn’t match the 2003 high of £8.37 recorded in the annual Halifax Pocket Money Survey.

Researchers – who polled 1,202 children aged between eight and 15 across the UK – found that about 80 per cent of children still received cash on a weekly basis, remaining unchanged from last year.

Parents residing in London were found to be the most generous with youngsters receiving an average £7.63 a week, which is around £2.50 more than those in the South West.

Boys now receive an average £6.41 a week, compared with £6.09 for girls - this 32p gap is down by 8p from 2010's survey.

Tags; Current UK Economy, Budgeting Advice, Young Family Finances,

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