![]() Pick 'n' mix used to be the holy grail of pocket money spending, but the closure of shops like Woolworths (famous for its selection) has made this less common. It's not unusual to enter a high street shop and spot a 'pocket money' stand packed with simple toys all priced at £1. ![]() Many parents even deposit the money into a bank account, giving their child some early tutelage in the intricacies of withdrawing money, and what it's like to have nothing in the bank.īut what about the pocket money that is spent straight away? A fair amount goes on snacks and sweets, while much is also spent on toys and comics. The perception of the 'spoiled child' going on a spending spree has been around since children stopped being sent to the workhouse, but most pocket money accrues over weeks and months until the child can afford a treasured item. Many people would be surprised to know that, in general, the majority of pocket money tends to be saved for a larger purchase, even if only for a short time. The age at which children receive pocket money, the amount they get, and how much is given varies from family to family, and yet there are numerous identifiable patterns in the way that money gets spent. ![]() Pocket money is a tried and tested tradition - an amount parents give to their children, usually weekly, sometimes monthly, to begin them on the road to financial autonomy and teach the value of saving and managing money in safe, small amounts. ![]()
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