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More than half of UK kids want to be bankrolled by mum and dad until first job

More than half of UK kids want to be bankrolled by mum and dad until first job

One in two British kids expect to be bankrolled by the bank of mum and dad until they find a job. A new pocket money study found more than half (57%) of children across the UK think they should be given an allowance up until their first job. The new research reveals a UK-wide pocket money generation gap, and shows 21% of kids aged eight to 15 expect to receive pocket money until they turn 18, whilst the average age that parents plan to stop paying pocket money is 17, with one in ten (11%) doing so at age 15 or below. Almost a third (31%) of parents claim they worked much harder for their pocket money than their children, compared to just 3%, who felt it was the other way round. However, there is less of a generational difference in opinion, as 60% of children admitted their parents put in more of a shift.

Tim K. Dean, Credi Founder | Commentator & Expert on Family Lending, Bank of Mum & Dad and Neo-Credit Scores is available for media interviews and appearances. More…

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Credi the #1 lending management platform for friends family & their business

Formalise and manage your loan agreements online with Credi. Trusted by over 7,000 people worldwide. Takes minutes to set up

Use Credi for FREE – for all loans up to  A$5000, $5000 / €5000,  £5000 . Loans over cost A$20, $20, €20,  £20  or other other local currency amounts (sales tax may apply).

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