Kids' pocket money has doubled in a decade: study

The pocket money of kids has jumped by 201 per cent over the past ten years, the New Generations 2011 study by Cartoon Network (CN) channel said.

"The average monthly pocket money given to kids in the 7-14 years age group is Rs 280 (up from Rs 258 in year 2009) with girls getting as much as boys.

"Around 35 per cent younger children under the age-group of 4-6 years also receive pocket money," it said.

Altogether 57 per cent parents give money to their kids, up from 41 per cent in 2009.
In addition, 58 per cent kids receive gift money and the average annual gift money stood at Rs 845 in 2010 vis-a-vis Rs 567 in 2009 and Rs 306 in 2006, the study said.

When it comes to savings, only 55 per cent kids who receive pocket money said they save a part of the amount.

The average for girls was slightly higher at 59 per cent vs boys at 52 per cent.
Piggy banks was the most preferred way of savings, followed by keeping the amount with parents.

Only 3 per cent the kids, however, save in post offices and banks, it added.

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