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UK kids' pocket money drops
Source: Agencies |
September 20, 2010, Monday
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Print Edition
BRITISH children's weekly pocket money has fallen to a seven-year low, in a sign parents are still cutting back on non-essential spending even as the country emerges from recession, a latest survey showed.
Halifax, part of Lloyds Banking Group, said average pocket money fell to 5.89 pounds (US$9.23) a week in 2010 from 6.24 pounds in 2009. The new figure is the lowest weekly sum since 2003 when parents paid an average of 5.79 pounds.
Children's pocket money has fallen despite a small rise in their parents' wages over the past year. Average weekly pay in Britain in the three months to July was 431 pounds, 1.8 percent more than a year ago.
Parents paid daughters less pocket money than sons, in a parallel to the gender gap in the earnings of grownups.
Girls got an average 5.70 pounds a month, compared with 6.08 pounds a month for boys, a difference of about 6 percent compared with 12 percent between men and women in full-time work.
Halifax based its data on a survey of 1,204 children aged between 8 and 15.
Halifax, part of Lloyds Banking Group, said average pocket money fell to 5.89 pounds (US$9.23) a week in 2010 from 6.24 pounds in 2009. The new figure is the lowest weekly sum since 2003 when parents paid an average of 5.79 pounds.
Children's pocket money has fallen despite a small rise in their parents' wages over the past year. Average weekly pay in Britain in the three months to July was 431 pounds, 1.8 percent more than a year ago.
Parents paid daughters less pocket money than sons, in a parallel to the gender gap in the earnings of grownups.
Girls got an average 5.70 pounds a month, compared with 6.08 pounds a month for boys, a difference of about 6 percent compared with 12 percent between men and women in full-time work.
Halifax based its data on a survey of 1,204 children aged between 8 and 15.
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