The Money Shot: sweets and pop

Multi-coloured jelly beans
Parents are counting their (jelly) beans...
"But what do today's youth have to spend their cash on?"
  • | by Emily Bater

Inflation may be negative and the economy may be recovering, but according to new research from Halifax, parents aren't sharing the wealth with their offspring.

Children's weekly pocket money has fallen to £6.20 in 2015, a 2.4% decrease since last year. The number of children receiving pocket money also dropped to 78%, a 4% decrease on last year.

But the Money Shot is glad to hear that today's generation isn't greedy - 51% of children believe they get the right amount of pocket money, but 41% believe they're hard done by and deserve more cash.

So what could £6.20 buy the average child in 2015? The Money Shot casts its mind back to the halcyon days of the late '90s, when we trotted down to the corner shop with a shiny pound and a world of options – bags of Space Invaders for 10p, Freddos for 15p and ice lollies for the princely sum of 70p.

But what do today's youth have to spend their cash on? Cans of pop retail at a staggering 70p compared to the 50p we used to pay, and that's if your parents let you drink sugar-filled water at all. Even a standard chocolate bar will set you back 60p these days.

When you think of it that way, £6.20 sounds like nothing at all – you wouldn't even be able to afford a Beano or a sneaky J17, if J17 was still in print, that is.

While we paid a weekly visit to Woolworths to buy the newest single (Spice Girls, Hear'Say and Blue represent) now children download their favourite song, or watch it on YouTube.

And who are we to criticise? At least that gives them more money to spend on pop and sweets.

What do your kids spend their money on? Do you remember what you spent your money on as a kid? Write in and tell us or drop us a line on Facebook and Twitter

News in brief

The election and the scrapping of stamp duty in Scotland meant a leap in mortgage approvals in April, accourding to the British Bankers' Association (BBA), the fastest rise since September 2013.

Speaking of Scotland, residents of the Scottish Borders saw their income rise fastest of anywhere in the UK, according to figures from the Office of National Statistics.

Michael Jackson's Neverland ranch has gone on sale for $100m or £65m.

Banks could face an even bigger bill for mis-selling PPI after the Financial Conduct Authority said it was considering new compensation rules. 

On Covered mag this week

Abbie Laughton-Coles frolicked around the Chelsea Flower Show to find out what trends are set to plant themselves in our gardens this year.

We chatted to curry king and blogger of the month Dan Toombs about his love for Britain's favourite cuisine and life as a blogger.

Join us next week for another spine-tingling edition of the Money Shot. Until then, email us with your letters