Pocket money hits £9.

Over 54% of parents have increased their children’s pocket money due to the cost of living crisis, with a weekly average of £9.33 for eight to 16-year-olds, according to a survey by OnePoll. Inflation hit a 41-year high of 11.1% in October 2022. Graeme Sands, head of personal banking at Virgin Money, stated that 81% of parents want their children to save some of their allowance each week.