On average, the income of seventeen year olds in the United Kingdom was higher than that children in any other age group. Between March 2024 and February 2025, children aged six had a weekly income of 4.99 British pounds, while those aged 17 had an income of 23.97 per week. Those figures include the weekly regular pocket money provided to children by parents, as well as income from chores and jobs, and other sources of money.

Children and money worldwide The average amount of pocket money of Japanese children did not exactly follow the correlation observed in this statistic about the United Kingdom. In Japan, kids had more money before they reach the age to enroll in elementary school than during their elementary school studies. There are several ways through which children can save money themselves or with the help of their parents. The most common financial instruments for children between eight and 14 years old in the United States were savings accounts and piggy banks. Child poverty Child poverty is a problem affecting a significant share of the population even in developed economies. For example, 14.4 percent of all children in Germany were at risk of poverty in 2024. Meanwhile, Romania, Montenegro, and Bulgaria were, in 2022, some of the countries with the most children at risk of poverty or social exclusion in Central and Eastern Europe. The probability of children finding themselves in these situations can vary within a country depending on their socioeconomic and ethnic background, the region where they live, or whether they are being raised by a single parent or not.

Whether it’s teaching the importance of good money management, learning about savings, or a way of rewarding a child for good behavior, pocket money is a big issue for parents and children alike in the United Kingdom. In 2023, the average child in the UK received five British pounds a week in pocket money, nearly the same as last year.
Top chores to earn extra As children grow and age, the importance of hard work becomes an important life lesson for a lot of parents. There is a clear correlation between a child’s age and the amount they receive in pocket money. If kids are smart, they will choose their chores wisely. As of 2021, washing the car saw the average child earn almost three British pounds.

Kids in the capital get more In Greater London, the average child received approximately 8.2 British pounds per week in 2018, over 425 GBP per year. Children in the South East and East of England faired off the worst, with an average of two pounds a week less than London in 2018. Meanwhile, savings accounts and piggy banks were some of the most popular financial instruments owned by children in the U.S. in 2022 were savings accounts and piggy banks.

In 2023, about three in ten online shoppers in the United Kingdom (UK) spent 50 to 100 British pounds on Amazon.co.uk on average every month. 26 percent of surveyed UK consumers spent over 200 British pounds, on average.

Consumer spending on books in the United Kingdom fluctuates each year, and in 2024 the figure reached *** billion British pounds. This represented a decline of *** percent compared to the previous year.