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Now The Kids Are Suffering As Pocket Money Falls

As the economy continues to struggle it seems as though even the youngest of society are struggling with news that children's pocket money has fallen for the third year in a row. A report by Halifax has shown that on average kids in the UK are nearly 25% worse off than last year and falling well behind the rate of inflation.

The survey confirms that the average pocket money payment for children aged eight to fifteen has fallen to £6.13 a week, down from £8.01 last year and £8.37 in 2005. If the 2005 figure had kept in line with inflation the level would be approaching £9.50, so the kids are certainly suffering as well.

However, while the visible spending figure has fallen for three years in a row this may not give the whole picture with parents still spending record amounts on their children, whether for birthdays, Christmas or treats during the school holidays. The cost of supporting a child has certainly not fallen in recent years!

While pocket money amounts may have fallen it is interesting that children as young as eight are learning the value of money, something that will hold them in very good stead for later years.

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