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Pocket money soars to £6.25 a week

Youngsters have seen an end to a seven-year piggy bank recession after figures showed pocket money surged to an average £6.25 a week in 2011.

In news that will delight sweet shop owners, the typical child now has an extra 36p to spend every seven days - equating to £18.72 a year.

The 6% annual uptick marks an end to a seven-year decline in pocket money for boys and girls in the UK. However, the current average still lags far behind the 2003 high of £8.37 recorded in the annual Halifax Pocket Money Survey.

Researchers found that about 80% of children polled confirmed they still received cash on a weekly basis, remaining unchanged from last year.

But encouragingly, the typical amount increased from 2010's weekly average of £5.89.

Parents in the capital were found to be the most generous. London's youngsters received an average £7.63 a week - around £2.50 more than their peers in the South West.

The survey also noted a narrowing in the gender divide.

Boys now receive an average £6.41 a week, compared to £6.09 for girls.

This 32p gender gap is down 8p from 2010's survey.

Older children still tend to receive more money, with 15-year-olds getting an average £8.38 a week, compared to £4.44 for eight-year-olds.

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From Belfast Telegraph