Children’s saving and pocket money

A few statistics
February 2018

A few statistics

 
  • 80% of British children use a piggy bank to save money.14
  • British children receive an average weekly amount of £7.04 pocket money, although over 40% of children think that’s too little.14
  • Pocket money has increased by more than 500% over the last 30 years.14
  • 76% of parents had piggy banks when they were children.14
  • 62% of parents say they still use a piggy bank today.14
  • The average age to start receiving pocket money is 8 but children start to form money-related habits at age 7.15
  • 70% of parents give pocket money in return for chores.15
  • A survey by ING Bank found that 55% of adults who received pocket money when they were children went on to save as adults.15
  • Over 30% of parents pay pocket money to their children digitally.16
  • Around one in three parents pay their children in digital currencies for gaming.16

 

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