The cost of living crisis has even pushed up children’s pocket money – how much should you give?

Parents are increasing pocket money payouts due to the higher costs of goods and services. Here is what to consider when deciding your child’s allowance.

Child putting money into piggy bank
(Image credit: Getty Images)

Pocket money is on the rise and some children are receiving almost £10 a week.

The issue of how much pocket money to give your children is a key topic of debate around dinner tables and among behavioural psychologists.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.