Kids’ allowance

Survey finds an estimated 9.06 million parents give their kids £5.38 billion in allowances annually

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To some parents, a child’s performance of household chores shouldn’t result in a monetary reward. But those who do offer their kids a financial incentive are one of 9.06 million parents who dish out a combined total of £103,545,127 to their kids per week. That’s £5.38 billion per year sitting in the savings accounts of these kids under the age of 21.

We at finder UK have commissioned a survey of 2,009 adults to look into the average kid’s allowance.

Of the estimated 37.08% of the UK adult population who have kids that are 21 or younger, 58.79% (approximately 9.06 million) of these parents give their kids an allowance. The average reported allowance given to each child was £11.43.

The average allowance increased with the average age of the child as did the proportion of children who had to work for their allowance.

Order Average age Average allowance Proportion that has to work for an allowance
Eldest child 13 £14.75 61.01%
Second child 10 £10.42 47.31%
Third child 8 £5.55 23.51%

Methodology
We calculated these figures from a survey of 2,009 UK adults commissioned by finder UK and conducted by Mortar London in October 2017.

Click here for more research. For all media enquiries, please contact

Matt Mckenna
Head of UK communications
T: +44 20 8191 8806
matt.mckenna@finder.com@MichHutchison/in/matthewmckenna2

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