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