Halifax: Kids earn £1K a year from jobs
www.moneynews.co.uk > General finance > Halifax: Kids earn £1K a year from jobs
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Money News |
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Halifax: Kids earn £1K a year from jobs
Thu 11th Feb 2010
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According to research carried out by the company, youngsters aged between eight and 15 years are earning an average of £17.93 a week.
However, some are also getting extra pocket money from other sources each week, with an average of £8.67 being handed over.
When added to the amount they could be receiving from a job, some children may be pocketing as much as £26.60, which works out at almost £1,500 a year.
With 37 per cent of youngster stating that they work in order to save up for something special, it seems that they could be getting a firm grip on their finances from an early age.
Flavia Palacios Umana, head of savings products at Halifax, said: "Cultivating these savings habits will stand them in good stead in later life."
It appears that children in London could already be creating a nest egg for themselves, as earlier research by Halifax found that kids in the capital have an average of £1,380 stashed in savings accounts.
Click here for more general finance news
Related News : General finance |
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Related News : Halifax |
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