Austrian children get generous pocket money
The Local · 9 Sep 2014, 11:08
Published: 09 Sep 2014 11:08 GMT+02:00
However, Italian parents are the most generous overall, giving their children aged 15 plus an average of €30 a week, and those aged five to ten €5 a week - more than Austrian children of the same age who get only €3.50.
French and Spanish parents are also more generous to their children in their early years.
The worse-off children include under-fives living in Holland, who receive just 50 cents a week. The most well-recompensed under-fives tend to live in Italy, where parents will fork out €5 on average.
The bank's research found that pocket money leads to better money management in adulthood, and that adults who received pocket money as a child were better able to save for retirement.
It said that 55 per cent of people who received pocket money as a child were able to regularly add to their savings, whereas just 45 per cent of people who didn't receive pocket money did so.