Thrifty kids top up pocket money

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Nearly 50 per cent of children in the UK gain cash from other sources in order to boost their pocket money, according to new research.

The study by Halifax found that 48 per cent of youngsters use income from other relatives or part-time jobs to increase their weekly money from the average of £6.13 to around £7.76.

Children in Wales, as well as the north-east and south-west England, are most likely to have a job to supplement their pocket money.

It was also revealed that many youngsters are saving their income to buy something special, while half just want to have access to more cash.

Ken Stannard, head of savings at Halifax, said: "It is encouraging to see that a number of children who are doing a part time job are working to save for something special, a habit which should stand them in good stead later in life."

Recent figures from Birmingham Midshires claimed that many families are planning to cut back on spending for Christmas.

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