Children top up pocket money with extra work
- Published
Children are getting paid for chores at home and developing side hustles to top up pocket money, a report has claimed.
Financially stretched parents are less likely to give youngsters a weekly allowance than they were the previous year, according to NatWest Rooster Money.
But children are supplementing their incomes, thanks to completing other work at home and for themselves.
That takes overall weekly income up by 3p on a year earlier to 拢9.23, the report estimates.
The findings are based on data drawn from more than 300,000 children aged between 6 and 17 who use the NatWest Rooster Money pocket money app and prepaid card.
As such, it can only be an estimate, and will not include children who do not receive any money at all.
It suggests that a shrinking proportion of families, with children using the app, now pay pocket money as part of a regular routine.
In this data, about 30% pay regular pocket money, compared with 32% a year earlier, with youngsters most commonly receiving it on a Saturday.
A greater proportion than that are paid for chores - about 40% - although this was also down from 47% a year earlier.
Mowing the lawn, cleaning the car, cleaning the windows and gardening are the most lucrative, according to the report.
Young entrepreneurs
Scarlett, 10, does not get pocket money but has her own glitter business
Others are developing their own income, primarily through paper rounds and reselling their possessions, it found.
The 麻豆社 spoke to a group of youngsters attending a youth club who said they were developing an entrepreneurial spirit.
"I don't really get pocket money but I have my own little business [applying glitter tattoos]," said Scarlett, aged 10.
"So far, out of all of the parties I've done this year, I've probably got like 100 and something pounds."
Nine-year-old Holly said: "Every week I get 拢1.50 and I do tasks. I make my bed, I do the dishwasher, I do the dusting, I clean my bedroom, I put my clothes away.
"My favourite thing to spend it on is probably sweets."
And Joe, 12, said: "I don't get pocket money but I am good at home so if I get an accomplishment I will get 拢10."
Children were most likely to want to save up in order to spend on gaming and holidays, the report suggested.
But Joe has something else in mind. "Probably saving up for a car. I know I'm 12 but every pocket money counts."