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Tooth Fairy inflation: NatWest Rooster Money's annual Pocket Money Index report reveals tooth fairy payments beat CPI
The annual bellwether of the UK's Kid's Economy, the NatWest Rooster Money Pocket Money Index*, reveals kids are earning (7.2%) for walking the dog, (6.1%) for mowing the lawn, (8.9%) for mopping, and (2.5%) for washing the car, compared to last year.
A quarter (27.4%) of families have a regular pocket money allowance set up, with kids being paid on average as part of a routine.
Once again, Saturday is the most popular pocket money payday, favoured by almost half of families (45%).
The data also shows that age is a clear factor in how much regular pocket money kids are given. 17-year-olds enjoy the highest weekly pay cheque at an average a week – though this has decreased slightly, at less than last year.
Meanwhile, six-year-olds' average pocket money comes in at a week – a improvement on last year.
When it comes to spending, kids are, on average, spending more and saving less, as sticky inflation continues to rack up prices. Overall, they managed to set aside of their annual income on average over the year, which shows savings as a percentage of annual income have fallen by 33% since last year and almost half (48%) since 2022.
Finally, despite their income being down 1% and savings being stretched, kids are still putting in the effort to give back to charitable causes that matter the most to them. For another year running, the most donations went to cancer research and medical charities, followed by animal welfare and environmental causes.
Charities related to homelessness, poverty and social services received the most generous donations, averaging per child.
View the full report: https://roostermoney.com/pocket-money-index-hub
View original content:https://www.prnewswire.co.uk/news-releases/tooth-fairy-inflation-natwest-rooster-moneys-annual-pocket-money-index-report-reveals-tooth-fairy-payments-beat-cpi-302491267.html