NatWest has revealed that households with children aged 6 to 17 could see a £506 annual boost, as the NatWest Rooster Money’s 10th Annual Pocket Money Index shows kids are earning more than ever. Children aged 6 through to 17 are now averaging £9.74 per week in overall pocket money, a 6.7% increase on last year's £9.13. This brings the average annual income for a UK child to a landmark £506.48 per year.
Chores drive earnings, challenging screen-time stereotypes
The index, based on the earning, saving and spending habits of over half a million Rooster Card users across the UK, reveals that almost a third (30%) of UK children complete chores as a condition of getting their pocket money. This year’s Index paints a picture of active, motivated earners, challenging the stereotype of a generation obsessed with screens.
For the third consecutive year, mowing the lawn is the UK's most lucrative chore, earning children an average of £3.52 per session – 12 times more than the most common indoor task of making the bed (28p). Car washing (£3.36) is close behind, followed by window cleaning (£1.65) and gardening (£1.38).
Outdoor chores top the list
Pet care is also getting kids up and out, with dog walking (£1.15) featuring in the top ten earners, up 11% year-on-year, whilst cleaning up dog poo (£0.72) has seen a 9% year-on-year rise. Chicken care is one of the most exciting little earners for youngsters most at home around the hen house, clucking up an average of £1.14 per job.
Will Carmichael, CEO and Founder of NatWest Rooster Money, says: “At a time when many families are concerned about navigating screen time, encouraging children to step away from devices and earn pocket money through real-world responsibilities could play a key role in building independence and essential life skills.
“Studies suggest that children who regularly complete chores go on to develop higher confidence, stronger relationships and better performance at school.
“Over ten years of the Pocket Money Index, we’ve seen how those early experiences of earning play an important role in shaping how children start making their own money choices, which is exactly what NatWest Rooster Money is designed to do.
“Chorewear brings that to life in a simple, playful way, celebrating how kids are getting a head start with money through practical, hands-on experiences.”
