Pinching the pennies for pocket money

Melissa Seddon with one-year-old Amelia-Mai, in Wigan town centre
Melissa Seddon with one-year-old Amelia-Mai, in Wigan town centre

WIGAN parents are vowing to keep a check on their children’s spending after a survey revealed soaring costs.

The Wigan Evening Post questioned a number of mums and dads from the borough who admitted they sometimes dish out large amounts of pocket money to their youngsters each month.

This comes after research by Nationwide Building Society found parents could be giving their children up to £125 each month by giving them hefty bonuses on top of their weekly subs.

Rebecca Doran of Whelley said she will provide pocket money for her 10-month old, Bobby, when he grows up.

But the amount given will depend on how many different hobbies he will partake in.

The 30-year-old said: “With children’s busy social lives these days, pocket money can add up to quite a lot.

“As Bobby gets older I think I will start by giving him £10 per week but he will probably get more with all of the extras that come part and parcel of having a young child.

“There is just so much pressure on kids nowadays to fit in. So if having that pair of Nikes stops them from getting bullied then why not spend that little bit extra?

“I was never spoiled as a child and I don’t intend on spoiling my children. I just believe that every child has a need to be accepted amongst their peers.

“They get picked on regardless of race, hair colour or anything so as a parent I would try to do as much as I could to stop it.”

But some parents disagree.

Centre manager at The Grand Arcade in the town centre, John Sanson, 57, said: “I have a 13-year-old boy and have never given him any pocket money but I’m sure he gets more than £30 per month in gifts and payments for his hobbies, clothes and such like.

“He’s not a demanding child at all and doesn’t ask for much.

“Children have so much these days which is already being paid for such as phone bills. I do think spending more than £125 per month extra on pocket money is too much but I can see how things spiral.

“At the end of the day, as parents we just have one common goal: we all just want the best for our kids.”

With the constant and ever changing economic climate, some parents start early in saving for the time when their little ones grow up and start to want their extra pocket money.

Melissa Seddon of Hindley already puts £5 per week away for one-year-old, Amelia-Mai.

The 22-year-old said: “As soon as Amelia-Mai was born I immediately knew that I wanted to start saving money.

“That way, when she’s a teenager she’ll be able to be more independent. I think even when she is that little bit older I will still give her a little bit of pocket money as well as continuing to save for her.

“I’m not sure what children spend with their pocket money these days. As a parent it’s hard to monitor and you just have to trust your child.”

Samantha Wood, 25, of Hindley has also started to put a bit of money away.

She said: “I would like my children to be sensible with their money so I’d like to teach them the value of money from an early age.

“I want to encourage them to spend their money wisely.

“ But everything has gone so much more expensive these days so it’s not a surprise that pocket money costs have spiralled out of control.”