The GuardianThe Guardian

A third of UK parents cutting back on children’s pocket money

By Julia Kollewe

07 Aug 2022 · 2 min read

Editor's Note

You should read this story to know how the cost of living crisis in the United Kingdom is coming for children's piggy bank. Pocket money given to children is at its lowest since 2001.

Children’s piggy banks are paying a high price for the cost of living crisis after almost a third of parents cut back on pocket money during the last year.

The average amount that is going into the pockets of under-16s each week has dropped by 23% to £4.99 this year from £6.48 in 2021, according to research from the lender Halifax – the lowest amount since 2001.

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