2024: what a year! We cheered on GB at the Olympics. We redefined words (brat; demure; girl dinner). We marvelled at the height of Gary Barlow’s son. And over a million of us partied with Taylor Swift as her record-breaking Eras Tour swept through the UK.
Yep, we certainly packed a lot into last year. But before we get too stuck into 2025, let’s take a moment to unwrap our latest GoHenry data* to find out exactly how UK kids and teens managed their money in 2024.
Show me the money! 🤑
In 2024, GoHenry kids earned £280 million, with average weekly pocket money of £9.62 per child. The average amount that parents pay in pocket money increases with age, so six year-olds received an average of £3.69 per week, rising to £17.89 per week for 16 year-olds. When it comes to pocket money, girls lead the way: in 2024, they out-earned boys by nearly 4%.
Check it out 🛒
Last year, young people went wild in the aisles: they spent more in grocery stores than in any other category. Once they stocked up on snacks, they were most likely to spend on fashion and gaming. Restaurants and takeaways were the fourth most popular category, followed by online marketplaces like Amazon and eBay.
Work it! 💪
GoHenry kids and teens don’t just rely on handouts, with average weekly earnings from tasks coming in at £0.86. In 2024, babysitting remained the highest-paid task, with average earnings of £5.32. Other highly-paid tasks were looking after dogs (£4.32) and mowing the lawn (£3.65).
There must have been some spotless bedrooms last year, as “tidy your room” and “put your clothes away” were the most popular tasks. Young people also earned some extra cash by doing homework and reading every day.
Saving the best for last 👏
GoHenry kids have been busy squirreling away their cash, adding a total of £51 million to their savings in 2024. That’s a weekly average of £4.05 per child!
It looks like special occasions were the biggest motivators for saving, with the top savings goals listed as “birthday” and “holiday”. Other popular goals in the app were clothes and electronics.
Looking now to 2025, what do you think kids will save for this year?
*This data is based on a sample of nearly 650,000 GoHenry UK kids active between 01/01/24 and 14/11/24.
