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Children not losing pocket money to credit crunch
10 July 2008
Research has found children are not losing out in the midst of the credit crunch in terms of pocket money.
Figures released by Skipton Building Society found adults are continuing to give children the same amount of pocket money or more than last year.
The survey of British adults over 16, conducted by Tickbox, found 9 out of ten (89.9 per cent) of children are not losing any pocket money this year, suggesting parents are "protecting" their families.
Skipton stated nearly 60 per cent of adults are cutting back on spending due to the credit crunch, yet over half are giving pocket money.
Around 40 per cent of those surveyed gave their children over £5 each every week.
The survey also found parents in Scotland are the most likely to have increased the amount of pocket money given to their offspring since the start of the credit crunch.
Older parents appear the most generous, with 67 per cent of parents over 55 regularly giving money, compared to under 39 per cent of those aged 16 to 24.
This week the Association of British Travel Agents said people are not cutting back on annual holidays this year, citing children as a major factor in the decision.
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