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Last Updated: Monday August 25 2008 12:38 GMT

Kids getting less pocket money

Piggy bank

The amount of pocket money children in Britain get has fallen for the third year in a row, a survey has found.

Children aged between eight and 15 get £6.13 pocket money a week on average.

But last year the average was £8.01, and in 2005, it was even higher, at £8.37!

Researchers say parents are giving kids less cash, but are paying for more expensive things like mobile phones and MP3 players.

Tony Wilcox, from Halifax bank, said: "Our latest findings really show a mixed bag - pocket money doesn't appear to have increased this year, but children don't seem to fund any major expenses from their allowance."

Researchers questioned 1,180 children aged between eight and 15, from across Britain.