The latest quarterly Pocket Money Index has revealed a host of stats about how much money children have to spend on toys.
The average child earns £3.81 in pocket money per week, and only spends a modest 20 per cent of their income each week, with the rest being saved, claims a survey by Roosterbank.com.
£1.22 is the typical weekly award made to a three year old.
The pocket money paydays of choice are Saturday (48 per cent) followed by Friday (24 per cent). Only one per cent of parents choose to pay out on a Wednesday or Thursday.
A child’s tooth earned them an average of £1.70 during the first quarter of 2013, around half of the typical pocket money award given for helping in the garden.
The average child banked £23.45 in Christmas cash, £26.39 for birthdays and £8.24 for a good school report.
Singing came out on top as the musical achievement most likely to earn pocket money, at £1.33 on average per child.
When it comes to kids spending pocket money on themselves, Skylanders Giants earned the title of most popular video game with 70 per cent of all purchases in the category.
It was LEGO that triumphed as the number one toy brand of choice, however.
Goldfish were the most popular pet for kids and the iPod was the most sought after piece of tech.
Ben Edwards, CEO of Roosterbank, commented: “As well as a fun glimpse into the habits of young pocket money earners, the latest Pocket Money Index also supports the idea that a structured pocket money routine, linked to tasks and goals, will result in children having a better appreciation of the value of money and saving."
The data was compiled from the activity of 800 Roosterbank users in a pocket money routine during Q1 2013.
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