Video games top the pocket money spending charts
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Video games Roblox and Fortnite topped the pocket money spending charts in 2020 as screentime soared under lockdown.
RoosterMoney, an app and debit card for children, collated data from 70,000 four to 14-year-olds in its annual index.
Trading in pocket money for the virtual video game currencies of Robux and V-Bucks came in first and second position respectively, knocking 2019’s highest spending category of books and magazines off the top spot.
However, Lego remained the most popular item children were saving for, with Star Wars sets being the most coveted.
The average child received £321 worth of pocket money last year, equivalent to £6.18 per week.
Parents can use the app to set chores for children to complete to earn their allowance. Washing the car was the highest earning task, with parents paying an average of £2.94, and mowing the lawn came second at £2.69.
Ten-year-olds were found to be the most entrepreneurial age group, raising the most money by selling old computer games and books.
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