Are you good with money? Read the text to find out about British teenagers and their cash!

What do you do with money? Do you spend it or save it? Do you keep money in a piggy bank or do you have a bank account? Do you get pocket money from your parents or do you work to earn money?

Pocket money

Most teenagers in Britain receive pocket money from their parents. A report by the Bank of Scotland interviewed over 1,000 young people in Britain and found that 77 per cent get pocket money. They might have to do chores to get their pocket money, helping at home with tasks like cleaning, cooking, washing up, taking out the rubbish and ironing.

Different families give different amounts and the average for eight- to fifteen-year-olds in the UK is about £6 a week. Children in Scotland receive more than the national average and Londoners get the most. Teenagers, logically, get more money than younger children. Some fifteen- to nineteen-year-olds receive more than £100 a month. The report found that many children save at least a quarter of their weekly pocket money and that more boys than girls save their money. 

I get £80 a month. I have to buy my own clothes with that too.
Chris, 17, from London

I get £5 a week. I get it on Saturday after I clean my bedroom.
Charlie, 13, from Edinburgh

Part-time work

A part-time job is an option for teenagers who don’t have pocket money or who want to earn extra money. About 15 per cent of teenagers have a job. Only children over 13 can work but there are some exceptions, for example, for actors. Popular part-time jobs for teens include babysitting, delivering newspapers to houses, shop work and restaurant or café work.

There are strict government laws about children working. They can work a maximum of two hours a day on a school day but not during school hours. At weekends and during school holidays, they can work longer hours. As for wages, the national minimum wage for under-18s is around £4 per hour and it increases every year. The minimum wage is higher if you are older.

I babysit for my neighbours. Looking after young children in their home when their parents have gone out for the evening is a popular job for teenagers. You get paid for watching children and television all at the same time!
Sam, 16, from Chesterfield

I work in a greengrocer’s shop on Saturday mornings. I get £5 an hour. Not much but it means I can buy new clothes or whatever I want.
Amber, 15, from Aberdeen

Banks

In Britain, some children and teenagers have a bank account. There is no legal age limit at which you can open a bank account but a bank manager can decide whether to allow a child or young person to open an account. Parents can put pocket money directly into their child’s bank account. Some banks have a prepaid bank card designed for young people. Parents can add pocket money to the card then children can use it to pay for things, without carrying money.

It’s good for kids to have a bank account so that they can learn about how to save money and how to be responsible for their own money. I’ve had a bank account for ages.
Jana, 16, from Canterbury

I don’t need a bank account – I keep my money in my piggy bank at home. I’m saving up for some new football boots. My dad says that it’s not the safest place to keep money but at least the bank isn’t making a profit from my money!
Ruth, 13, from Warwick

So, many teenagers are getting experience of working part-time, dealing with banks and deciding whether to save or spend their money. These are all steps towards becoming a financially independent adult and earning and looking after your own money.

Total votes: 295

Discussion

Do you get pocket money from your parents or do you work to earn money? What do you spend your money on?

Comments

Trucnguyencute's picture
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Trucnguyencute 12 October, 2019 - 09:47

when we grow up, we need money to pay for our needs such as toys, clothes, ... we can earn money by doing housework to help parents, having a part-time job. And then I think we should learn how to save money and how to be responsible for our own money. That makes us feel satisfied with what we have

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JoModerator's picture
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JoModerator 10 October, 2019 - 17:12

Hi everyone,

Thanks for your comments about 'Money'.

Please remember that this website is specially for teenagers aged 13-17 years old. If you are older than that, you are welcome to keep on using LearnEnglish Teens but please do NOT post any comments as we must keep this strictly for teenagers to interact with each other.

 

Best wishes

Jo (LearnEnglish Teens team)

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1 user has voted.
single462's picture
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single462 9 October, 2019 - 17:47

I work at a small restaurant every day to earn money to pay for my 4-year college living expenses. Because the amount of money I earn each month is not too much, I spend very economically. I only spend on necessities like eating, drinking and paying for utilities. However, I also save VND 100,000 per month for my piggy bank to buy somethings that I need.

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AyuNguyen's picture
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AyuNguyen 8 October, 2019 - 16:52

Previously, I only made savings by doing housework for my parents, but now I want to find a job to earn extra money. I want to pay for my monthly needs by myself including the cost of each semester.

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Trucnguyencute's picture
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Trucnguyencute 7 October, 2019 - 17:50

About this problem , i think we should teachthe children how to save money and how to responsible for their own money. That make their feel satisfied with what they have

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2 users have voted.
kimphuc21's picture
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kimphuc21 3 October, 2019 - 06:01

Most of my pocket money depends on how much my parents send me monthly. I use it to eat and drink, buy books, pay rent, pay for school, and something like that. Sometimes, I have some part-time jobs like café work, PG for brands, leaflets work, etc. I keep my money in my piggy bank at home. I'm saving up for some new clothes, new books, and using them when needed.

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LeHongThinh's picture
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LeHongThinh 3 October, 2019 - 05:59

I don't have any part-time jobs to earn money. All the money that I have is from my parents. Sometimes I feel I need a job to earn money for my self, but I don't know what kind of jobs suit me. I don't like manual work as much as a waiter because I think it's not worth the effort that I spent. I like to spend my money on shopping or sometimes I decide to hang out with my friends. I hope I will have a good job in the future so that I can spend my own money instead of my parents'.

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trucdaomai's picture
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trucdaomai 2 October, 2019 - 03:02

My parents give me some pocket money every month. It's for food and drink and a little money just in case I need to buy something, like books, for example. I usually save my pocket money, when I need something I will take it to spend on. Besides, I keep money in my wallet and don't get my own piggy bank. In fact, I don't have any part-time job because I have enough money to use and I must spend time for my study.

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ThanhLam's picture
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ThanhLam 30 September, 2019 - 17:45

I have had a part-time job and I sometimes get pocket money from my parents .Part-time jobs are very popular among teens in the Vietnam. I'd like to have a job because it's the way to become more independent.
I usually spend money for hanging out with my friends; when we go to theatre, cinema, cafes, concerts, hairdresser, some food at school etc. And when I need something more expensive, like clothes, journeys, books etc., . I like to save money, but it's impossible sometimes.

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1 user has voted.
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kimthao_60nna2 30 September, 2019 - 03:03

I am still a student now so most of my money is given by my parents and older sister. However, I always knew how to save, I never wasted money on anything useless. Besides, I also get a part-time job when I have free time and arrange my time to study for money to do and buy what I like and pay for my studies suc as tour expense of my foreign language department organised soon

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2 users have voted.
2028131's picture
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2028131 29 September, 2019 - 15:38

At this point, I still get pocket money from my parents. Sometime, I want to find a part-time job, but my dad didn't allow me, so, that why I still use money from my parents. Every month, I keep 1/3 of my money in the bank for my personal trip or work.

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1 user has voted.
LeDuyen_11's picture
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LeDuyen_11 29 September, 2019 - 12:13

I am currently studying at Nha Trang. I always go home at the weekend. It takes me 45 minutes to get there by bus. So , I take money directly from my parents. I do not have a part-time job because I think I do not have enough time to study. I receive 300.000 VND per week. This is my subsistence fee , include : meals, books, milk tea and fast food.

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1 user has voted.
hamynguyen's picture
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hamynguyen 29 September, 2019 - 05:23

Hi! I really appreciate the value of money is so essential demand in our life.So, I think saving money is a good way for us to manage your own finances.Being a student at university now, I have to live far from my family that why I have had an account bank. I still get poked from parents every month by credit card, but in the part I used to save money in a piggy bank..Well, I often spend money on paying for my apartment, books, learning tools, meals, clothes and so on.However, when I'm free I do the part time job to help my family.That's also an opportunity to experience. ;)

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1 user has voted.
Tuan_Quoc's picture
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Tuan_Quoc 29 September, 2019 - 04:44

Reasonable spending of money is extremely important. Sometimes I often get a small pocket money from my parents at the end of each month, instead of using the money for unnecessary things, I store and save them in a fixed place like in a small box in my room so that whenever there are social charity activities organized in school or class, I donate a small portion of my savings to help other friends of the same age with me who have encountered difficult and unlucky family circumstances in life.

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2 users have voted.
mary_nguyen's picture
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mary_nguyen 26 September, 2019 - 14:46

In my opinion, saving money is very necessary for me. I still receive pocket money from my parents, but just a little bit. Besides, I help my aunt to babysit her son to earn some extra money. Moreover, I love babies, so It's really funny to play with him. Therefore, after that, I will have enough money to buy what I need such as books, pens, comics,...and also the things what I like.

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Noelle's picture
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Noelle 25 September, 2019 - 15:10

well i don't get any pocket money from my parents when i were a child, maybe because they thought i wasn't old enough to manage the money. Now i have a small part-time job, i can real save money and buy whatever i want.

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Youjiro's picture
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Youjiro 4 March, 2019 - 09:30

I could get pocket money when I go to some place like a cinema .My parents don't spend money for me .They thought spending money for me is waste of money.

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1 user has voted.
daniii's picture
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daniii 29 March, 2017 - 19:11

The money is given to me by my parents since I am a minor and I do not work. The money I get I keep for tomorrow or else I spend it on something that makes me very happy to buy it.

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42 users have voted.
tyler14's picture
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tyler14 29 March, 2017 - 08:45

Hi!
I don't receive any pocket money from my parents, but I still doing my housework, like cleaning my bedroom, or cleaning the dishes. When I receive money is because I go shopping and I keep the change. And I spend this money in clothes or CDs

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40 users have voted.
Raquel14's picture
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Raquel14 29 March, 2017 - 08:44

Hi !
My parents don't give me pocket money every week, even month. But sometimes, my grandmom gives me money. I save my money in a money box. I buy clothes, books and other items with my money.

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39 users have voted.
MariannaARoBak's picture
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MariannaARoBak 29 March, 2017 - 08:43

Hello, I save my money but also buy some things like clothes, tickets... I keep my money in my wallet I don't get piggy bank, I get 20 euros every month.

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34 users have voted.
MireiaSM's picture
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MireiaSM 29 March, 2017 - 08:43

Haio ^-^, I usually save my money for the future but if I go to the cinema or I go shopping I spend my own money. Sadly I don't get pocket money Y-Y but I get money for my birthday and Christmas and sometimes when I go to visit my grandparents. I save my money in the piggy bank.

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35 users have voted.
LauraSD09's picture
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LauraSD09 29 March, 2017 - 08:39

My parents don't give me pocket money, but when I need it to go some places, they give me money without a problem. I always do my household tasks so they haven't an excuse! I'm a good kid lol.

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45 users have voted.
JudithRME's picture
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JudithRME 29 March, 2017 - 08:36

In my case, my parents don't give me pocket money, but when I need money to go to some places they give me the necessary.
I don't have any bank account now I prefer have the money at home.

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32 users have voted.
gianggiang's picture
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gianggiang 18 October, 2015 - 07:30

I get pocket money from the headmaster.( I often get scholarships! :) There are no part-time work for teenagers in my country.( It is even hard for adults to find jobs)But there are a lot of voluntary work for teens to do every weekend.

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71 users have voted.
Elsa007's picture
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Elsa007 9 November, 2015 - 05:22

hi giang, what kind of voluntary work do you do on weekends? I'm curious to know if you don't mind. :)

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61 users have voted.
gianggiang's picture
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gianggiang 9 November, 2015 - 13:31

Hi Elsa, hmmm, let me see....
I teach children Math but now it seems that the time doesn't allow me to do this. ( Children are a bit naughty and noisy but funny)
I often buy books and give them my books. :D. That's all voluntary work I do on weekends ! ( very small)

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65 users have voted.

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