Survey finds fathers to be the most generous families - giving their children over £30 each month

DADS are among the most generous of families, handing out over £30 to children each month.

A survey of her 2,000 parents with children aged 6 to her 17 revealed how much money various relatives give their loved ones.  

Overall, the father is giving her £7.70 a week and the mother is giving her £6.70 to the child.

Aside from my parents, my maternal grandmother is the next largest donor, giving £5.20 each week.

Her paternal grandmother and aunt follow closely behind, both contributing £4.90 a week, and both grandfathers on both sides of the family cough her £4.80.

Last was an uncle who donated £4.70 a week.

So if children received an average amount of money each week from one of each relative, they could be earning as much as £43.70 (£2,272.40 per year), but multiple grandparents, Children with aunts and uncles may be earning money. far more than that amount.

Tara Massoudi of Revolut, who commissioned the investigation in rebranding services designed for under-18s, said:

"Parents want to teach their children and teens about managing money in the real world. Revolut <18 helps young people be mindful of their money.

OnePoll reveals that spending money is on the rise. Nearly half (45%) will receive a “pocket money raise” in 2022.

On average, children receive £14.20 more, or £170.40 more per month.

Despite being given more money this year, a staggering 81% of parents said their children would work more to 'earn' the raise they were given. or doing chores.

And 88% of parents who let their children do chores for money said they were strict about enforcing this rule. The average age at which people generally start working was also revealed. They (34%) were the top three reasons why they felt important throughout their lifetime.

The top household chores were washing dishes (24%), feeding pets (23%), watering plants (22%) and cleaning the table (21%).

Most children (58%) are likely to get a pay rise again in 2023 when it comes to giving them more money next year.

Revolut's Tara Massoudi added:

"This is reflected in our poll which shows that nearly 9 in 10 parents let their children do housework to earn money.

“It is important for young people to have tools and family support to manage their money safely. , comes with end-to-end security and instant notifications sent to the phone of the parent or guardian.”