Pocket Money Grows, But Falls Behind Inflation

Between January and April 2026, children aged seven to 18 received an average of £9.90 per week in pocket money, a 1.2% increase from the previous year. This rise in allowance is notably less than half the consumer prices index (CPI) inflation rate of 2.8% recorded in April. Such a disparity may indicate that parents are experiencing increased financial pressure due to the rising cost of living. Children residing in the south east of England are reported to receive the highest weekly pocket money, averaging £12.88. Conversely, those in the east of England receive the lowest average, at £8.57 per week. Tidy bedrooms are the most common chore for which children receive pocket money, earning an average of £1.14, while music practice offers the highest payment at £1.84. Holidays are the primary savings goal for children, followed by birthdays and electronics. Spending habits show a preference for grocery shops and supermarkets, with restaurants, clothing, transport, and health and beauty shops also being popular. Despite economic challenges, children are consistently saving an average of £3.93 per week, demonstrating a growing financial independence and confidence in managing their money.