British kids bag billions in pocket money
British children receive a massive £29 billion in pocket money each year, according to research conducted by Abbey Current Accounts among 11 to 18-year-olds. The average child receives £12.22 in pocket money, but kids in Yorkshire lead the way, receiving the most out of any children in the country at £16.33 each week from their generous parents, while children in the West Midlands got the least, at an average £10.33.Some 88 per cent of children are expected to earn their pocket money, by helping out with chores like tidying their bedroom, washing dishes or walking the dog.While the children surveyed spent around 54 per cent of their pocket money each week, surprisingly the rest is saved.Steve Shore, head of banking at Abbey, commented: "Britain's kids are certainly doing well in the pocket money stakes, especially those in Yorkshire where pocket money rates are at a premium."It's encouraging that most children are learning the value of money by having to earn their pocket money. It's also great to see that theyre saving almost half of their pocket money each week."
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