Abbey Banking: Naughty kids losing pocket money

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Abbey Banking: Naughty kids losing pocket money

British children have missed out on a total of £40 million in pocket money so far in 2007, according to research by Abbey Banking.

Some 41 per cent of 11 to 15-year-olds in the UK had their pocket money docked during the year, which works out to an average of £8.92 each week, the figures reveal.

The Abbey Banking study indicates that that the north may have some of the most poorly-behaved youngsters in the country, with 45 per cent of children having their pocket money halted as a punishment.

Steve Shore, head of banking at Abbey, commented: "Parents have long since wielded pocket money as a powerful weapon with which to influence their children's conduct.

"Being on their best behaviour can clearly pay real financial dividends for Britain's money motivated minors."

He added that youngsters with an Abbey account could receive six per cent interest on their money, which makes preserving that pocket money even more useful.

Abbey offers special accounts aimed at 11 to 15-year-olds, as well as 16 to 18-year-olds.
ADNFCR-323-ID-18397820-ADNFCR

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