Children and pocket money are the source of a lot of debate between parents. How much should you give them? What will they spend it on? Do they need to do chores to get said money? And does any of this change with age? All this and much more was asked of more than 1,300 Aussie parents by Heritage to see just how pocket money is allocated and used among families, represented visually below.
Saving habits are easier to keep when you start young. If, as a parent, you are unsure how to encourage your child to save and spend wisely, consider our guide to pocket money, with everything from the average amount children receive each week to how it is earned and spent. For more advice or to discuss opening a savings account for your child, visit your local Heritage branch to talk about children and responsible spending.
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* Based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
The information provided is intended as general information only. Blogs have been prepared without taking into account your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation or needs. You should consider obtaining personal investment, taxation and/or legal advice before making any decision. Please consider the Guide to Heritage Deposit Products (available in-branch, or at www.heritage.com.au) before you decide whether a product is right for you. Conditions, Criteria and Fees apply.