Girls get less pocket money than boys the same age PA

When it comes to dishing out pocket money we've given our kids a pay cut this year, according to the Halifax bank. Its annual pocket money survey shows this year's pocket money payout is taking a dip with many parents feeling the financial squeeze.

The average pocket money pay packet for eight to 15-year-olds is £5.98 a week, that's a drop of 27p a week, (nearly £15 a year), compared to £6.25 in 2011. And compared with pocket money's all time high of £8.37 back in 2005 rates have fallen nearly 30%.

And who gets the most, girls or boys? It seems the old 'unequal pay' argument can be traced back to childhood as more boys than girls are given pocket money; 80% of boys compared with 75% of girls. And boys get more. On average they're given 37p a week more at £6.16 compared with girls at £5.79; which means they're nearly £20 better off a year.

If as a parent you're left thinking this still seems a lot compared with the pocket money you remember being given here's a quick comparison in chocolate bar form.

Back in 1987 when Halifax put out its first pocket money survey the average pocket money rate was £1.13 a week and a Cadbury Twirl costs 22p. So if you blew your week's money on chocolate you'd have got five bars and toothache! Fast forward 25 years and that same bar will set you back 60p but our kids can now afford to buy ten bars with their cash.

Thankfully most kids don't blow the lot on sweets. In fact they're pretty savvy about saving. Boys lead in the investment stakes with nearly three quarters of them saving at least a quarter of their pocket money compared with slightly less for girls and 40% of children admit to keeping their cash in a bank or building society; which even with today's poor savings rates; still makes more financial sense than sticking it in a piggy bank.

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