54% of UK parents raising pocket money for 8-16 year-olds amid inflation, Virgin Money survey reveals.
54% of UK parents providing pocket money for their children aged 8-16 increased allowance due to inflation, according to a survey commissioned by Virgin Money. The average weekly amount is £9.33, with 76% of parents providing pocket money, mainly to teach financial management and the value of money. The research coincides with the launch of Virgin Money's new bank account, M Power, for 11-17-year-olds.
June 24, 2024
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