Weekly Pocket Money Increases to £7.04 Average

It’s just a week to go until machines taking pound coins will go into meltdown. Yes, it’s a week until the launch of the UK’s newly designed pound coin and arcade machine operators everywhere are probably dropping paracetamol.
Hopefully, British piggy banks are also up with the change, with Halifax research finding that 80 per cent of children still use the money box feature to save their cash.
According to the Halifax’s annual Pocket Money findings, the average weekly pocket money handed out to children has increased by 7 per cent this year,  currently standing at £7.04 per week.

Head of Savings at Halifax, Giles Martin said: “Regardless of the amount of pocket money they receive, it’s important for children to think about saving. Having somewhere to save pocket money, be it a piggy bank or savings account, is a helpful tool for adults teaching those lessons.”