Average weekly pocket money of children in Great Britain 2000-2023

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.