Three in ten Moneywise users don’t pay kids pocket money

child stacking coins on a table

Three in ten Moneywise users (29%) don’t pay their kids pocket money, according to the results of our recent poll.

This finding comes after research from Halifax shows that the national average pocket money payment is £7.04 per week.

The bank adds that despite this figure being at a nine-year high, two in five (41%) kids say they aren’t getting enough from parents.

But of the Moneywise users who do pay pocket money, the majority give less than the national average.

Just over two in ten (23%) give each child between £1.01 and £5 pocket money each week, 6% pay between 1p and £1 per child, and just over one in 10 (11%) pay £5.01 to £10 per child each week.

Only 8% of parents said they pay more than £10.01 per child per week.

A further 23% said the amount they give each child varies from week to week depending on factors such as age, school grades, and chores performed.

See the pie chart below for the full results (click to enlarge).

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