Abbey Current Accounts reveals kids make a mint

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Abbey Current Accounts reveals kids make a mint

British children collect a total of £29 billion in pocket change on a yearly basis, according to research from Abbey Current Accounts.

The average weekly pocket money allowance per child is £12.12, the study indicates, with youngsters in Yorkshire and Humberside collecting the most of any region and West Midlands kids earning the least.

Respondents, who were between 11 and 18 years old, reported that they spend an average of 54 per cent of their weekly pocket money.

Steve Shore, head of banking at Abbey, commented: "Britain's kids are certainly doing well in the pocket money stakes, especially those in Yorkshire where pocket money rates are at a premium.

"It's also great to see that they're saving almost half of their pocket money each week."

At the end of October, Abbey Current Accounts extended its high-interest bank account to all new customers.

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