Bristol children’s pocket money hit hardest by economic downturn

A new shock report revealing the full extent of the economic downturn finds that children’s pocket money has been reduced.

One in four parents have admitted to reducing the amount of money they give to their child, with 71 per cent expecting help around the house to earn it.

The average UK pay out per week for children aged four to fifteen years is £5.80.

Cockney children earn the most at £7.81, whilst Bristol children languish at the bottom taking home just £4.33.

The research by Tesco Bank found that the gender pay gap also started at this early age with boys more than twice as likely as girls to receive amounts between £16 and £20.
 
Child psychologist Dr Elizabeth Kilbey, working with Tesco Bank on the research said: “It’s great to see so many parents across the country rewarding and reinforcing children’s good behaviour with pocket money they can then choose to spend or save. You can never start financial education early enough in a child’s life and this approach is by far the best way to teach children good habits.”