Kids Received GBP273 Pocket Money in 2019, and Saved 38pc of it, Reveals RoosterMoney

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oosterMoney, the pocket money app, can reveal that kids received GBP273 pocket money (GBP5.25 a week) last year, up 7.5pc from 2018, and encouragingly they saved 38pc of it.

This is in stark contrast to the latest statistics showing adults are only managing to save 6.8% of their income*.

Children are picking up lasting money habits as young as 7 years old**, and RoosterMoney is showing that a strong allowance routine is a great way to build positive money habits early on...

74% of parents gave regular pocket money last year

Average weekly allowance GBP5.25 (GBP273 a year), up 7.5%

Most lucrative chores 'Mowing the lawn', 'Washing the car' & 'Gardening'

Average saved 38%

Top things to SAVE for

Phones (-)

Lego Sets (-)

Nintendo Switch (+1)

Holiday Money (-1)

Books & Magazines (-)

Bikes (+2)

Pokemon (new entry)

Playstation (+2)

Tablets (-)

Xbox (-4)

Top things to SPEND on

Books & Magazines (+1)

Sweets (-1)

Lego (-)

Presents (-)

Roblox (+5, highest climber)

Fortnite (new entry)

Playstation (new entry)

Xbox (-3)

Pokemon (-2)

Apps (-4)

Top EARNING chores

Mowing the lawn, GBP2.86

Washing the car, GBP2.62

Gardening, GBP2.08

Washing windows, GBP1.53

Cleaning bathroom, GBP1.28

Cleaning kitchen, GBP0.99

Hoovering, GBP0.98

Dusting, GBP0.98

Helping make dinner, GBP0.93

Clean bedroom, GBP0.92

Most entrepreneurial age group 9 year olds - boosting their income by selling old games and books, averaging GBP22.56 per sale.

Will Carmichael, RoosterMoney CEO says Engaging kids with money early by creating teachable moments at home can help cement positive habits that last a lifetime. The New Year is a great time to kick start an allowance and saving routine to encourage your kids to make considered choices about how they use their money.

Find out how RoosterMoney helps teach kids about money here https//www.roostermoney.com/gb

✔️ Kids Received GBP273 Pocket Money in 2019, and Saved 38pc of it, Reveals RoosterMoney

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