Press Release

For immediate release

Gender pay gap: Girls receive more pocket money than boys

  • Girls receive on average 6.1% more weekly pocket money compared to boys
  • Pocket money is highest in VIC, with kids receiving an average of $9.67, followed by NSW ($9.07)
  • Things to consider when teaching kids about money

22 November 2016, Sydney, Australia – There’s a gender pay gap when it comes to pocket money, with girls receiving more pocket money per week compared to boys, according to finder.com.au, Australia’s most visited comparison website1.

The finder.com.au survey of 2,006 Australians reveals girls are 6.0% better off than boys. While girls get an average yearly allowance of $442.52 ($8.51 per week), boys get $417.04 each year ($8.02 per week).

While the average weekly allowance for boys and girls is $8.26 - or $429.52 a year per child, only three in five children (57%) have to do chores in exchange for their allowance.

Interestingly, parents are most likely to give their eldest child more pocket money than younger siblings even when they reach the same age.

Bessie Hassan, Money Expert at finder.com.au, says first born children get 23% more pocket money on average compared to second born children.

“The eldest child at age eight earns $6.18 per week but this drops to $5.29 if the 8-year old is a second child,” she says.

Ms Hassan says the research shows some parents start paying their children pocket money from as young as two years of age, with the average toddler pocketing $4.70 per week.

“Surprisingly earnings don’t increase in line with age, as the average six-year-old earns more than most 7 and 8 year olds,” she says.

The most common tasks kids receive pocket money for include cleaning the house (17%), doing their homework and washing the dishes (both 9%), while 43% of kids do not have to do a thing to receive their allowance.

Ms Hassan says children learn a lot about money from their parents and pocket money is an ideal way to teach them the value of money while they’re young.

“Attitudes about spending and savings are developed early on.

“With new payment technologies, kids often can’t physically see the exchange of money, so take time to explain to your kids how it works. For instance, you may want to help your child understand the value of different items - that an ice-cream may cost $3 - $5, whereas a book may cost $20 - $25.

"Pocket money is a terrific way to teach kids basic money management skills such as budgeting and saving, but it’s important to introduce conditions for receiving the allowance, such as household chores so they don’t take it for granted.

Teaching kids basic money management skills can aid their personal development and it can help them make better financial decisions when they enter adulthood.

Average pocket money by age group

AgePocket
money
AgePocket money
2$4.7011$7.08
3$3.9312$10.51
4$3.7513$11.67
5$5.4614$13.94
6$6.0015$15.35
7$4.6916$16.41
8$5.8917$21.32
9$5.9318$13.00
10$6.88Overall Average$8.26

State-by-state

  • Pocket money was found to be highest in Victoria, with children being given an average of $9.67 followed by NSW ($9.07), WA ($8.55) and Queensland ($8.34).
  • In contrast, kids in Tasmania were only handed $5.71 per week.

1 Experian Hitwise 2015

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For further information

Disclaimer

The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on finder.com.au's review pages for the current correct values.

About finder.com.au:

finder.com.au is one of Australia’s biggest comparison websites and has helped over 4.8 million Australians find better credit cards, home loans, life insurance, shopping deals and more since 2006. finder.com.au compares 250 credit and debit cards from 31 providers, over 300 home loan products, and information from 13 life insurance providers as well as online shopping promo codes, mobile phone plans, travel insurance and more. One Australian every five minutes is using finder.com.au or creditcardfinder.com.au to find better (Source: Google Analytics).

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