Ever wondered how much pocket money adds up to?

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Other than the lack of independence and having other people in total control of your life, childhood is really pretty cool. 

Multiple holidays throughout the year, zero bills and responsibilities, what's there to complain about? 

And don't forget about pocket money; money received for either completing household tasks or in some cases for doing nothing at all. 

While some parents may make room in their budget to cater for the amount, there's also the reach-in-my-purse-and-grab-whatever's-in-there approach. 

For this group of free-range pocket money parents, you may want to err on the side of caution to avoid unnecessary expenses. 

It might seem like nothing really, but those quick dips into the purse might be costing you more than you think. 

A recent survey conducted in the US revealed that American parents collectively spent more than $40 billion on pocket money. 

Yep, pocket money. 

But since the survey was based on the responses of only 2 000 people, we'd say those must have been some really well-to-do parents. 

The study was conducted by Finder.com and revealed that more than half of parents believe in the idea of an allowance and that more than 80% required that their kids perform household tasks in order to receive it. 

The average amount given per week was $17 (about R205), with only children getting an average of $19 (about R230) per week. 

Watch the video by Babble.com for the full list of findings: 

Do you give your children pocket money? How many children do you have and does the amount depend on age or gender? Do they have to complete chores to earn that? Do you pay weekly or monthly? Tell us in the comments section below, or email to chatback@parent.com and we might publish your responses, anonymously. 

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