Dreamstime

Kids Cash In With Pocket Money

September 7, 2017

Being a kid is big business. A new study find that on average, children score about $6,500 in pocket money by the time they’re 16. Kids collect nearly $600 a year in pocket money, birthday and Christmas gifts and rewards for good grades over the nine years leading up to age 16. They earn another $1,300 or so running their own little businesses on the side, like babysitting or car washing. But in interviews with 2,000 parents, the researchers found that most of that money is frittered away. About 49% said their kids spent the money immediately.

SOURCE: The Sun

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