Children turn to housework to boost their income
British children may not be sure where money comes from but almost two-thirds are getting paid to clean their bedrooms, do the washing- up and even complete their homework.
A survey of 8 to15-year-old children has revealed that 63 per cent are taking on domestic work as they are not old enough to get a paying job.
Halifax’s pocket money survey revealed that children in Wales are the most likely to be earning money, with 71 per cent performing chores for cash, while children in the north west are least likely at just 57 per cent.
The survey also revealed that 17 per cent of kids are getting paid just for doing their homework, while 40 per cent make money from cleaning their bedrooms.
When asked where they believe money comes from, 61 per cent of children said it came from working, while 28 per cent thinks it comes from banks and 18 per cent say the government.
Despite this 88 per cent of children understand that their parents get their money from working.
The survey has also revealed that children think things are far more expensive than they are – with nine-year-olds least aware of basic prices.
According to this age group the average cost for toilet roll is £4.29, while they estimate the price of a stamp to be £2.34.
Three quarters of 8 to 15-year-olds own mobile phones, but 78 per cent are relying on their parents to cover the costs of their calls.
Richard Fearon, head of Halifax Savings, said: “In finding ways to earn, spend and save their own money, children are able to understand the value of money more easily.
They can learn how to be responsible for managing their money to achieve what they want from it.”
