Children's average weekly pocket hits nine-year high

Jessica Morris
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The average kid gets £6.55 a week (Source: Getty)

Kids across the country are rolling in cash, with average weekly pocket money soaring to a nine-year high.

Generous parents have increased their sprogs' average weekly pocket money by nine per cent to £6.55 in the last year, according to the annual Halifax pocket money survey.

Read more: The surprising impact on your earnings if you have kids

The number of children receiving pocket money also swelled three per cent in the last 12 months to four in five.

"Some parents are clearly not feeling the pinch in the same way as they have done in recent years, when weekly pocket money dipped as low as £5.89," Giles Martin, head of Halifax Savings, said.

Read more: The Bank of England's chief economist wants to teach children maths so they trust banks

"It’s likely it’ll be a few more years until we reach the dizzy heights of £8.37 in 2005 though, when we saw the highest average pocket money since our records began.”

But kids appear to be faring better than their parents, as well as the adult population. Brits' wages typically increased two per cent last month, according to data released by the Office for National Statistics.

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