Where does money come from? Dad's pocket of course!

Jess Bown

More than a quarter of children think that money magically appears in their fathers' pockets and mothers' handbags, while around a third believe it is dolled out freely by the banks, new research shows.

Fortunately for cash-strapped parents, however, 55% of the youngsters questioned by Halifax as part of its latest Pocket Money Survey, understand that you need to earn money by working for it.