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Pocket money increase

It's the news that sweet shop owners around the country have been waiting for – a seven-year piggy bank recession has ended, with pocket money surging to an average of £6.25 in 2011.

The average child now has an extra 36p to spend each week, marking a six percent rise after a seven year decline in pocket money for boys and girls throughout the UK.

However, according to the the annual Halifax Pocket Money Survey, this figure is still some way off the high of £8.37 recorded in 2003.

About 8+ percent of children receive money on a regular basis, with parents in London typically the most generous. Offspring of London parents typically receive £7.63 a week - £2.50 more than those in the South West.

The study also revealed a more slender gender divide in pocket money handouts. Boys receive and average of £6.41 a week, compared to £6.09 for girls. This gap of 32p is down 8p from 2010. Older children tend to receive more money, with 15-year-olds averaging £8.38 a week, compared to £4.44 for eight-year-olds.

So more reasons to be cheerful for today's so-called materialistic younger generations. It seems that now is indeed the time to download that app or the MP3 you've been after. Like in the old good days, you can get tucked in to some sweets and absorb yourself in the Beano with the knowledge that next week you can do the same again and probably have something left over to show for it.

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