When we are younger, we look forward to affording the luxuries of buying candies and toys from the store which is the reason pocket money makes children so happy. Parents give their children some allowances to give them a whiff of handling finances. It is a small source of income among the youngsters. Parents usually ask their kids to do the household chores in exchange for some money or they just set a weekly/monthly allowance.
Pocket money is mostly popular among children aged 4-14. The majority choose to give a regular allowance to their children and Saturday is mostly their payday. There are a lot of ways children can earn pocket money. Whether they do their chores like tidying their bedroom, doing the laundry or looking after the pets, or they are rewarded for good behavior and maybe a tooth fairy visits them.
Birthdays are the most popular day to earn a good amount of pocket money from parents as well as gifts from relatives. The children these days spend their money usually on candies or toys but a few may also spend on video games such as Fortnite. Take a look at the following infographic for more details.
Infographic by: roostermoney