Is it possible that there’s a unique gender pay gap when it comes to pocket money for kids?
According to financial comparison website finder.com.au, there is, and a survey they’ve done has found girls receive more pocket money per week than boys by either doing chores or just being good kids.
The most common tasks kids receive pocket money for include cleaning the house, doing their homework and washing the dishes, while 43 per cent of kids do not have to do a thing to receive their allowance.
But does this suggests one of two things, that girls are either more willing to do housework than boys, or that there’s an early expectation on girls to do more housework?
What mums of girls and boys have told Financy HQ is that both genders can be excellent helpers and that it depends on the individual.
But what we also know from other research is that as women become adults they tend to continue doing more housework compared to men and it is mostly unpaid, according to the OECD.
The finder.com.au survey of 2,006 Australians reveals girls get an average yearly allowance of $442.52 or $8.51 per week, while boys get $417.04 each year or $8.02 per week.
While the average weekly allowance for boys and girls is $8.26, or $429.52 a year per child – only three in five children have to do chores in exchange for their allowance.
Interestingly, parents are most likely to give their eldest child more pocket money than younger siblings even when they reach the same age.
“The eldest child at age eight earns $6.18 per week but this drops to $5.29 if the 8-year old is a second child,” says Finder.com.au’s Bessie Hassan.
Ms Hassan says the research shows some parents start paying their children pocket money from as young as two years of age, with the average toddler pocketing $4.70 per week.
“Surprisingly earnings don’t increase in line with age, as the average six-year-old earns more than most 7 and 8-year-olds,” she says.
Ms Hassan says children learn a lot about money from their parents and pocket money is an ideal way to teach them the value of money while they’re young.
“Attitudes about spending and savings are developed early on.
“With new payment technologies, kids often can’t physically see the exchange of money, so take time to explain to your kids how it works. For instance, you may want to help your child understand the value of different items – that an ice-cream may cost $3 – $5, whereas a book may cost $20 – $25.
“Pocket money is a terrific way to teach kids basic money management skills such as budgeting and saving, but it’s important to introduce conditions for receiving the allowance, such as household chores so they don’t take it for granted,” says Ms Hassan.
Pocket money was found to be highest in Victoria, with children being given an average of $9.67 followed by NSW at $9.07, WA at $8.55, Queensland at $8.34 and Tasmania at $5.71 per week.
