Pocket money gender gap reversed as girls get more than boys, study finds
Girls typically receive more pocket money than boys, reversing a gender gap which has been seen for over a decade, a survey has found.
On average, girls receive £7.09 a week, according to the Halifax Pocket Money report.
Boys can typically expect to receive 18p per week less than girls, at £6.91.
Over the course of a year, this adds up to a pocket money pay gap of £9.36.
It is the first time since 2006 in Halifax's study that girls have been the recipients of more money than boys.
Just over half (51%) of boys said they believe they should be given more pocket money, compared with 41% of girls.
Cash remains king when it comes to how children receive their pocket money.
Some 84% of parents give pocket money in cash, while a fifth (19%) have paid pocket money directly into their child's bank account, and 3% have used a pocket money app, the survey of parents with children aged eight to 15 found.
Just over three-quarters (76%) of children use a traditional piggy bank to store their cash.
Looking at girls and boys combined, the overall average amount of weekly pocket money children receive has fallen by 3p compared with last year, Halifax found. It was the first fall in children's pocket money in four years.
Just over a quarter (28%) of parents encourage their children to earn their pocket money by doing housework and chores, and nearly half (48%) would withhold pocket money if these jobs are not done properly.
Half (51%) of parents would stop giving pocket money as a way to punish bad behaviour, putting this method on a par with grounding as one of the most common ways parents try to keep behaviour in check, Halifax found.
Over a third (36%) of parents said they give their children enough pocket money to enable them to understand the value of money and the benefits of saving.
More than half (54%) of parents surveyed believe their children are good at managing money, and four-fifths (80%) feel their children understand the value of money.
Giles Martin, head of savings at Halifax, said: "It's great to see that so many parents still encourage their kids to save, and are using pocket money as a means of helping them learn to manage their finances early on.
"With so much new technology at people's fingertips, it is surprising to find that the humble piggy bank is still such a firm favourite among both parents and children."
Looking across Britain, children in London were found to receive the most pocket money on average, at £8.18, followed by youngsters in Scotland, at £8.11.
More than 1,700 parents and the same number of children were surveyed.
Here are the average weekly pocket money amounts received across Britain, ranked from highest to lowest, according to the Halifax Pocket Money report.
1. London, £8.18
2. Scotland, £8.11
3. North West, £7.11
4. East and West Midlands, £7.01
5. Wales and South West, £6.75
6. North East and Yorkshire and the Humber, £6.36
7. South East and East England, £6.19
