According to the Halifax 25th Anniversary Pocket Money Survey, the average amount of pocket money received by UK children (aged 8-15) in 2012 is £5.98 per week. That equates to nearly £24 a month or £287.04 a year! And this is on top of any earnings or gifts given by friends or relatives.
So, where can kids put all this extra cash? The humble piggy bank is an option but if you want your children's pot to grow and encourage good habits for later in life, a savings account is a more sensible idea.