Children in Scotland save a quarter of pocket money

MOST children who receive pocket money save at least a quarter of it, according to a new report.

The average weekly amount given to children aged eight to 15 in Scotland has fallen in the last year by 57p to £6.32, but 62 per cent still managed to save at least £1.58.

The UK weekly average is £5.98, 34p lower, with 67 per cent saving a quarter of their money, according to the Bank of Scotland.

Generous parents in Scotland are the third-highest spending when it comes to money given to children each week, behind the north east of England and London.

Bank of Scotland economist Nitesh Patel said: “It is encouraging to see that almost two-thirds of children in Scotland are still saving at least a quarter of the money they get, despite the fact that the amount of pocket money they receive has fallen.”