Kids set to earn over £257 million this summer in pocket money

But what will they spend it on?

Kids set to earn over £257 million this summer in pocket money

Schools around England have officially shut their doors for the summer and British kids are getting stuck into the holidays and no doubt relishing the thought of no school until September now.

The task on most parents' hands now is finding something to fill their little darlings time for the next six weeks and helping out around the house seems to be high on the list.

What may surprise you however is the fact that parents are rewarding their children for their help with cash, and it's stacking up nicely for the young generation.

Research conducted to launch the Vauxhall Motors' 'Kids Carwash Franchise' revealed that parents are willing to pay their kids around £2.09 per 'job' they help out with, which nearly double what they would have earned as a child!

Not only that but it is estimated that kids in the UK are expected to earn an average of £48.54 each in pocket money this summer, totting up to £257 million countrywide.

The top ten jobs kids undertake for pocket money are:

1. Tidying their room (65%)

2. Hoovering (51%)

3. Washing dishes (49%)

4. Making the bed (46%)

5. Washing the car (36%)

6. Being well behaved (35%)

7. Watering the plants (31%)

8. Doing homework (22%)

9. Walking the dog (19%)

10. Mowing the lawn (14%)

Perhaps unsurprisingly the research also revealed that children living in London are the highest earners, making around £3 per job while those in the north east can only expect around 84p per chore.

So, what are they going to do with all this hard-earned cash? Sweets was top of the list with 49% choosing to spend their money on sugar filled treats while 39% opted for a trip to the toy shop.

Pocket money can't last forever sadly and the research showed that on average, children stop receiving the monthly payouts at 15 but one in five continue to hand cash over to their kids until they are over 18.

Pocket Money Pay Gap