Spanish kids near top of EU pocket-money table

Financial Empowerment in the Digital Age showed that 41 per cent of Spaniards aged between 5 and 15 get between €5 ($6.50) and €10 ($13) per week and 13 per cent of over-15s get over €50 per week.

79 per cent of European parents give pocket money according to the ING survey of over 12,000 people, which revealed that the main motivation for parents to do so was that they had received it themselves as children.

The Spanish edition of The Huffington Post reported that, according to the survey, children who received pocket money grew up to be better at saving money.

34.7 per cent of parents give pocket money when their children need it for something specific, 6.8 pay up in return for help with domestic chores and 27 per cent give a regular, fixed amount.

Only 4 per cent of children have part-time jobs to earn money, compared with 15 per cent of their parents at the same age.