UK parents spend an average of £55 monthly on children's pocket money, totaling £185 million nationwide, with regional and gender disparities.
Santander's study reveals UK parents spend an average of £55 monthly on children's pocket money, totaling £185 million nationwide. Regional disparities exist, with London parents giving £95.90 on average, while those in the East of England provide only £27.10. Fathers contribute twice as much as mothers, and 18% of children receive no pocket money. The bank emphasizes that pocket money can enhance financial literacy skills in children under parental guidance.
September 10, 2024
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