For example, approximately a fifth of all minors in France lived under the poverty line in 2019. The most common financial instruments for children between eight and 14 years old in the United States were savings accounts and piggy banks.Ĭhild poverty is a problem affecting a significant share of the population even in developed economies. There are several ways through which children can save money themselves or with the help of their parents. In Japan, kids had more money before they reach the age to enroll in elementary school than during their elementary school studies. The average amount of pocket money of Japanese children did not exactly follow the correlation observed in this statistic about the United Kingdom. The highest-paid chore for kids in the UK was washing the car. There was a clear correlation between their age and the amount they received, with children aged four collecting less than a third of what a thirteen-year-old would earn each week. On average, older children in the United Kingdom (UK) received more pocket money than younger ones in 2021.
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