Youngsters' Pocket Money Falls
A new survey from Halifax has revealed that the amount of pocket money given to 8-15 year olds has fallen by 2.4% in the last year.
A new survey from Halifax has revealed that the amount of pocket money given to 8-15 year olds has fallen by 2.4% in the last year.-----------------------------------------------------------------------------------------------------------------------------------
The current weekly sum paid has fallen to £6.20 from £6.35 in 2014, despite being a period where overall pay actually climbed by an average of 2%.
However, the figures also indicate that in spite of the current dip, children have seen much more generous increases in the last decade.
Past figures showed pocket money saw its biggest hike in 2003 when it doubled to £5.79 and then reached a peak of £8.37 in 2005.
Giles Martin, head of Halifax Savings, said: “Most parents are clearly very generous when it comes to how much pocket money they give their children.”
The latest Halifax data, from a survey of 1,200 children, also showed that the number expected to work for their pocket money by doing household chores had fallen to 59% from 65% last year.
Of all the chores, bedroom tidying remains the most common task, followed by washing up, cleaning, and vacuuming.