The UK’s largest regular pocket money survey conducted by RoosterMoney, surveyed 25,000 4-14 year olds. The results reveal how much pocket money UK children received last year and what they did with it.
The results show
- 74% of parents gave regular pocket money in 2019
- The average weekly allowance is £5.25 (£273 a year), up 7.5% from £254 in 2018
- Children received an average of £49 in cash gifts for Christmas
- The most lucrative chores are mowing the lawn, washing the car & gardening.
- The most popular things to save for are Lego Sets, Phones & Nintendo Switch
- Of all the money received/earned, the average saved is 38%
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The survey also reveals the items that children were saving their money for in 2019.
Top things to SAVE for in 2019:
1. Lego Sets
3. Nintendo Switch
4. Holiday Money
5. Books & Magazines
As well as revealing the top items to spend their pocket money on.
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Top things to SPEND on in 2019:
1. Books & Magazines
And perhaps most interestingly, the survey revels the average pocket money gained from completing chores.
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Top EARNING chores of 2019:
1. Mowing the lawn, £2.86
2. Washing the car, £2.62
3. Gardening, £2.08
4. Washing windows, £1.53
5. Cleaning bathroom, £1.28
6. Cleaning kitchen, £0.99
7. Hoovering, £0.98
8. Dusting, £0.98
9. Helping make dinner, £0.93
10. Clean bedroom, £0.92
Encouragingly the survey concludes that children are picking up lasting money saving habits as young as 7 years old and that a pocket money routine is a great way to build positive money habits early on.