Mums and dads have always had the power over children when it comes to pocket money, and many might even resort to tactful bribing, like paying their kids to do chores. Now, a new report from PKTMNY reveals the top 10 tasks parents want their children to complete to earn pocket money.
The first PKTMNY Report has found that the top chore 9 out of 10 parents want their children to finish in order to receive pocket money is to tidy their room.
Based on the money habits of over 1,000 families using PKTMNY, the report reveals that mums and dads are playing it clever by getting the kids to complete certain chores and tasks in return for pocket money.
When it comes to how much pocket money parents give to children for completing chores, the most is given for washing the car or looking after pets: £3.57 for a car wash and £2.30 to look after pets.
The going rate for tidying a bedroom is £1.47 while £1.06 is given for filling up and emptying the dishwasher, doing washing up and clearing the dishes.
On average, parents give eight to 14-year-olds £6.17 per week starting with £3.90 per week for eight-year-olds, rising to £6.54 for 10-year-olds, and £7.88 for 12-year-olds. Interestingly, Dads are 17 per cent more generous than Mums when giving pocket money.
Louise Hill, COO and Founder of PKTMNY, said: “The PKTMNY Report gives real insight into how parents manage money with their children, based on the day to day spending and saving patterns of our members.
“It reveals how many families use money as a way of reinforcing good behaviour and encouraging their child to be actively involved in everyday chores.
“Clearly, how money is tackled will be different for every family, but we believe supporting children to learn about money in a positive way, that is controlled by parents, will teach them the financial skills they’ll need for the world they’ll grow into.”
The top 10 tasks parents want their children to complete to earn pocket money are:
1. Tidying their bedroom
2. Filling up and emptying the dishwasher, doing washing up and clearing the dishes
3. Being well behaved
4. Doing homework and practice/revision
6. Looking after pets
7. Cleaning a room (other than their bedroom)
8. Doing laundry
9. Putting out recycling and rubbish
10. Washing the car
PKTMNY is the simple way to give children pocket money online whilst allowing them to earn, save and spend their money within limits and controls set by the parent. It offers a unique way for parents and children to manage and learn about money together.
For more information visit or to sign up today visit:www.pktmny.com