Kids enjoy pocket money payrise
Published On 23 July 2007
Children today enjoy on average more than 600 per cent more pocket money than their counterparts back in the late 1980s.That is according to research from Halifax, which found that on average children receive £8.01 per week in spending money from their parents, up from £1.13 average pocket money in 1987.
Britain's little ones are fairing less well than they were a year ago, however, when £8.20 was the average weekly sum dished out by parents.
"Part of the increase may be explained by changing tastes and technology," said Mike Regnier from Halifax.
"Whereas 20 years ago children spent their money on toys or saved towards things like holidays, nowadays children are likely to buy DVDs and mobile phones, which simply didn't exist in 1987."
Indeed, the study found that the most popular items on which kids spend their money include clothes, with 48 per cent buying new togs, and mobile phones which are bought by 46 per cent.
