The amount of money children receive from the ages of seven and 16 may surprise you...
When you're a child you feel like £100 is a lot of money. Think of all the sweets, toys and clothes you can buy.
Of course, as you get older you soon realise that £100 will not cover your food shopping, travel expenses and/or bills for a week, let alone a month.
Over the decades it seems that children have received more pocket money because the cost of living has increased and now researchers have found that each year children receive a whopping £444 a year – that's £4,000 from the ages of seven and 16.
Four thousand pounds!
Yes really.
WATCH: The easy peasy kid’s guide to small business cash flow...
According to Xero, a cloud accounting software company, kids earn this amount of money from a variety of different things; pocket money, cash from getting good grades at school and of course, birthdays and Christmas money.
Here's a breakdown on how much money kids earn each year:
Pocket money
Kids are given £16.62 a month which totals over £199 each year.
Birthday and Christmas money
They also receive £66 on their birthday from family and friends each year and £67 at Christmas time.
Money from relatives
Loved ones fork out £58 a year for on children.
Easter
Kids roughly receive £32 at Easter every year as well.
Good grades
Aaaaand If they get good grades children from the ages of seven to 16 receive £33 a year.
Research has also shown that some children earn even more - we're talking up to £5,017 – by selling old belongings, cleaning neighbours cars and babysitting.
Wowza!
If you're wondering whether your children's cash is the chances are they've probably spent it! As almost half of 2000 parents asked in the survey admitted that although their children understand the concept of saving money they still don't.
Hmm. Unfortunately, we can relate to that…
Here are the top 10 ways children make extra money over the years…
Well there's a few ways to get your kids more active and/or helpful around the house.
Do your children do chores for pocket money? Do you have any good ideas on how kids can earn some extra cash? Let us know on Facebook or Twitter.
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