On average, seventeen-year-olds received more pocket money than any other underage children in the United Kingdom (UK) between March 2023 and February 2024. There was a clear correlation between their age and the amount they received, with children aged six collecting less than a third of what a seventeen-year-old would earn each week. The highest-paid chore for kids in the UK was washing the car.
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, over a fifth of all children in Germany were at risk of poverty in 2022. Meanwhile, Romania and Bulgaria were, in 2021, 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.
This statistic shows the regional differences between the average weekly amount of pocket money in the United Kingdom (UK) in 2018. Children in London received the highest amounts of pocket money per week during this period, receiving 8.18 British pounds per week in 2018.
The weekly average income of seventeen-year-olds was four times higher than that of 8-year-olds in the United Kingdom (UK) between March 2023 and February 2024. There was a clear correlation between their age and the value of their income, with children aged six having an income of 5,68 British pounds per week. That income was composed of the value of pocket money per week, the money obtained from doing chores, and other sources of income for children.
This statistic shows the weekly amounts of money spent on digital media and latest technologies by children in the United Kingdom (UK) in 2014. Children downloaded an average of five music tracks a week (value of 4.95 British pounds) as well as computer games (2.3 British pounds). Including mobile phone bills that amount to approximately 2.77 British pounds, items purchased outweighed the average weekly amount of pocket money, prompting children to look for additional sources of financing.
This statistic presents information on the pocket money offered to boys and girls for performing household chores in the United Kingdom, as of July 2014. On average, more girls "earn" pocket money than boys for performing household chores: 45 percent of girls earned pocket money for tidying the bedroom and 39 percent of boys received money for the same chore.
This statistic shows the averaged annual increase of children pocket money in the United Kingdom in 2015. The largest share of 34 percent of parents increased their children pocket money by one to two British pounds per year. Another 18 percent increased the pocket money by three to four British pounds annually on average.
This statistic illustrates the top paid chores for children in the United Kingdom (UK) as of 2021. According to data, washing the car was the highest paid pocket money chore for kids in the UK, with an average earning of 2.67 British pounds as of 2021.
The statistic illustrates the average weekly expenditure per household on money transfers and credits, such as pocket money for children, cash gifts and private donations in the United Kingdom (UK) from 2016 to 2018. It can be seen that households spent an average of 12.5 British pounds per week on cash gifts and donations in 2018. Furthermore, households stated that they spent far less (on average 0.1 British pounds) per week on monetary gifts to children at that time.
According to a recent study, average spending per head during the Christmas period in 2023 is expected to vary between just below 700 British pounds in North East to around 980 British pounds in London in the United Kingdom (UK).
This statistic presents the results of a town centre survey, showing a breakdown of customers' average shopping spend in Great Britain between 2012 and 2013, by type of location. On average shoppers spent most in out of town shopping centres (58.74 British pounds), followed by online (56.51 British pounds).
The value of payments made with debit cards in the United Kingdom grew by roughly 12 percent in 2021. This meant an acceleration of the growth recorded in previous years, although pandemic year 2020 did cause a sizable slowdown of this growth. Debit cards rank as the most popular in-store payment method in the UK for several years, although their market share did decline. Mobile wallets, especially, are of growing importance in the retail transaction space in the country.
The value of credit card payments in the United Kingdom reached an all-time high in 2022, growing by nearly 50 billion British pounds that year. 2022 is the second consecutive year in which credit card expenses go up. The source claims that lockdown restrictions in the summer of 2020 limited credit card payments. The monthly credit card expenses did increase over the course of that timeframe, reaching near pre-pandemic figures in July 2021.
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.
The coronavirus (COVID-19) pandemic changed significantly how households in the United Kingdom spent on leisure and cultural activities. The weekly average expenditure on package holidays abroad, restaurants, and café meals declined sharply in the 2022 fiscal year compared to 2020. By contrast, spending on TV, cable subscriptions, and similar products increased, with an average weekly expenditure of 5.8 British pounds between April 2021 and March 2022.
The majority of respondents of all age groups in the United Kingdom spent an average of less than four thousand British pounds on holidays each year, according to data from the first half of 2020. Around a third of holidaymakers aged 25 to 35 would spend between one and two thousand pounds on holidays per year (32 percent) and another 26 percent two to four thousand.
The average weekly amount UK households spent on clothing amounted to 14.4 British pounds in 2022. Among adults aged between 30 and 49, this was considerably higher at 18.2 British pounds. Expenditure on clothing was not as high for older demographics.
Clothing: essential spending In the fashion and apparel category, consumer spending concentrates on clothing garments, footwear, and accessories. Consumers spent 11.4 billion British pounds on shoes and footwear in 2022. On a monthly basis, sales of clothing and footwear items at retail stores usually peak around the holiday season, a trend which has been consistently observed in previous years.
Selling clothes in a booming market, but how? In the fashion segment, the revenue generated from e-commerce is resolutely climbing. This trend accelerated during the coronavirus (COVID-19) pandemic, as physical shopping was not possible for many consumers. To compete, more and more high street retailers in the UK are turning to selling their products via hybrid selling strategies like multichannel retail.
In the 2024 holiday season, the average Christmas spending on gifts in the United Kingdom (UK) was forecast to be slightly higher compared to the previous year, although this wasn't the case for all categories. In 2024, UK consumers were expected to spend the most money on toys, at around 40 British pounds on a per capita basis.
The statistic illustrates the average weekly expenditure per household on cash gifts and donations in the United Kingdom (UK) from 2016 to 2018. It can be seen that households spent an average of 6.2 British pounds per week on money and presents given to those outside the household in 2018, an increase of two British pounds per week from 2017. Furthermore, households stated that they spent less (on average 2 British pounds) per week on maintenance allowance expenditure at that time.
The value of transactions made using contactless cards in the United Kingdom grew by nearly ** percent in 2022. The source openly states these numbers include both credit and debit cards - with the latter comprising the majority of transactions - but does not mention tap to pay transactions with smartphones or wearables. Until November 2022, transactions using contactless cards amounted to approximately *** billion British pounds.
On average, seventeen-year-olds received more pocket money than any other underage children in the United Kingdom (UK) between March 2023 and February 2024. There was a clear correlation between their age and the amount they received, with children aged six collecting less than a third of what a seventeen-year-old would earn each week. The highest-paid chore for kids in the UK was washing the car.
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, over a fifth of all children in Germany were at risk of poverty in 2022. Meanwhile, Romania and Bulgaria were, in 2021, 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.