Australian girls receive a bigger allowance than boys
The average for girls is $8.51 a week.
New research has found Australian girls receive more weekly pocket money than boys, with children in Victoria receiving the most cash, compared to other states.
Survey results from finder.com.au reveal, on average, girls receive 6.1% more pocket money than boys.
This equates to an average annual allowance of $442.52 ($8.51 per week) for girls and $417.04 ($8.02 per week) for boys.
In return for the money, just three in five children (57%) help out around the house, doing chores.
Common duties include cleaning the house (17%), doing homework (9%) and washing the dishes (9%).
The survey found that parents tend to be somewhat biased towards their eldest child, giving them more pocket money than younger siblings, even after they reach the same age.
For example, at age eight, the eldest child earns $6.18 per week, however, this falls to $5.29 per week for a second child at the same age.
This means first born children get 23% more pocket money than their younger brother or sister.
Some lucky kids begin receiving pocket money from as young as two-years-old. The average toddler pockets $4.70 per week.
Interestingly, earnings don't necessarily get higher as children get older. For example, the average six-year-old out-earns most seven and eight-year-old kids.
Kids in Victoria received the most pocket money, averaging $9.67 per week, followed by NSW ($9.07), WA ($8.55) and Queensland ($8.34). Comparatively, Tasmanian kids received just $5.71 per week.
Aussie kids are also great savers. A recent study by Roy Morgan Research found more than three quarters of children aged 6-13 have money tucked away for a rainy day.
Generally, boys accumulate more savings than girls, according to the study. Boys are also slightly more likely to receive higher-value cash Christmas and birthday presents.
Gender can have a huge impact on our financial decision-making processes. While women are closing the gap on retirement funds, men in the Australian workforce remain neglectful of the gender pay gap.
You don't have to be a child to be sponging off your parents. Give your children the best chance at financial stability by starting them with a kids high interest savings account.
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