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.

Discussion

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

Comments

blackwidow's picture
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blackwidow 29 November, 2019 - 02:09

about my pocket money , i usually keep it in my piggy bank . In special times, example my parents' birthday , i wil take out and buy some cute and meaning gifts for them

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linhdan83's picture
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linhdan83 28 November, 2019 - 03:24

I used to get pocket money from my parents until I have a part-time job. Although the salary is not too high, it helps me gain experience and be independent in my own finance. Therefore, I personally recommend teens having a part-time job if they have enough time as it not only gives you more money but also helps you to widen your knowledge in a particular field.

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LinhNguyen_2208 27 November, 2019 - 04:11

As children in Britain, I also did housework with my mom and she gave me pocket money about $1 per day. However, now I go to University and I’m mature so I find a part-time job to earn money or I try to study well to achieve scholarship. I sometimes spend money on buying some clothes or going outgoing with my friends twice a month.

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JoModerator 27 November, 2019 - 07:44

Hi LinhNguyen_2208,

Thanks for your comments on LearnEnglish Teens. This website is specially for teenagers aged 13-17 years old but it sounds like you are older than that. You are welcome to keep on using LearnEnglish Teens but if you are over 17, please do NOT post any more comments as we must keep this strictly for teenagers to interact with each other.

 

Best wishes,

Jo (LearnEnglish Teens team)

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ABC_01 27 November, 2019 - 02:03

When I went to college, my parents gave me money to spend, I spent on daily use, and for the extra money or sundry I used junk food or shopping. I didn't work part-time jobs because I was very lazy and that was my bad point

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JoModerator 27 November, 2019 - 07:45

Hi ABC_01,
 
Thanks for your comments on LearnEnglish Teens. This website is specially for teenagers aged 13-17 years old but it sounds like you are older than that. You are welcome to keep on using LearnEnglish Teens but if you are over 17, please do NOT post any more comments as we must keep this strictly for teenagers to interact with each other.
 
Best wishes,
Jo (LearnEnglish Teens team)
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pink1208's picture
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pink1208 26 November, 2019 - 15:18

I usually get pocket money from my parents and my sisters. Sometimes, I have a part-time job to earn more money. I use money to buy books and something else for studying.

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_nguyenthanhtom 26 November, 2019 - 09:36

I often earn money by helping my mother with housework or trying to study well to receive scholarships to pay for school fees. I always try to spend money in the right way to save money and pay for the needs of myself.

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Kimkhanh305's picture
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Kimkhanh305 26 November, 2019 - 08:41

I both get supporting finance from my family and earn money myself. Normally, I spend my own money on my personal needs and my family will support me in tuition fees. To me, money is freedom unit, once you can make ends meet yourself, you are set free!

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HoangHa_000's picture
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HoangHa_000 25 November, 2019 - 09:55

I used to depend on my parents' income. However, be a young 19-year-old girl, i have to be more mature and self-made. I have had experience in some part-time jobs such P.G, grocery assistant, ... I am working as a T.A for a foreign language center now. I earn a sufficient amount of money that can satisfy my own demands of clothes, cosmetic or my study. Except that sum, i give my parents the rest of my salary. Because i am not clever enough to manage money, i think it's the best way for me.

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Tina - Coordinator's picture
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Tina - Coordinator 25 November, 2019 - 10:49

Dear HoangHa_000,
Thanks for your comments on LearnEnglish Teens. This website is specially for teenagers aged 13-17 years old but mention that you are older than that. You are welcome to keep on using LearnEnglish Teens but as you are over 17, please do NOT post any more comments as we must keep this strictly for teenagers to interact with each other.
Best wishes, Tina (LearnEnglish Teens team)

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yennhi2k0 24 November, 2019 - 15:32

Most of my pocket money are from my parents. They only give me every month. I only spend on necessities like for renting house, food and drink. I used to save money in a piggy bank when I was a child. My parents usually support me by giving me money when I have high marks and do housework. I only use this money to pay for books, comics or dictionaries. I hope that I will soon find a part- time job to have more pocket money for my hobbies and help my parents.

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lkngan's picture
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lkngan 21 November, 2019 - 15:45

For me, money is very important and making money is more important. I was 18 years old and were able to make money. Besides learning i have part time job in the evening. This is how to help me not waste time, comfortable in spending without spending too much of the parent's money.

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editor_rachael's picture
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editor_rachael 23 November, 2019 - 13:00

Hi lkngan,

 

Thanks for your comments on LearnEnglish Teens. This website is specially for teenagers aged 13-17 years old but it sounds like you are older than that. You are welcome to keep on using LearnEnglish Teens but if you are over 17, please do NOT post any more comments as we must keep this strictly for teenagers to interact with each other. 

 

Best wishes,

 

Rachael
LearnEnglish Teens team

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havy230819's picture
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havy230819 13 November, 2019 - 15:56

I used to help my mother with housework because she was a busy woman. Actually, my sister and I split the chores to do. if I washed the dishes she would cook, and if I dried the clothes she would clean the floor. My sister said we helped our mother because we love her very much. Our parents rewarded us with something sweet or something delicious. Sometimes when I got good grades in class, my mom will give me some money and I put them in my piggy bank. I hope that I will soon find a part-time job to have more pocket money.

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haahaa0912's picture
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haahaa0912 11 November, 2019 - 17:57

I started having part-time jobs when I was a first year students. Therefore, I have rejected to gain a sum of money per month from my parent. I save money in order to pay tuition fee, purchase documents, favorite books, clothes. Sometimes, my family member and relatives give me some money to pay these small fees or keep it in piggy bank.

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Quocvu's picture
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Quocvu 11 November, 2019 - 02:45

i was given tution fee by my parents and i have a part-time job so i can pay for the orther expenditures. I spend my money for study, books and sometime i spend it for drinking coffee with my friends

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Sugassi61nna8ntu's picture
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Sugassi61nna8ntu 10 November, 2019 - 13:19

I earn pocket money by my part-time job. I'm working at a coffee shop. I can use it to buy clothes, books, or anything I want. I think you should find a part-time job because it helps you a lot. It not only helps you gain experience, but also trains patience. And most importantly, when you make your own money, you will appreciate it more. You can also buy the things you want without having to ask your parents for money.

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Hiep 8 November, 2019 - 15:58

Most of my pocket money are from my sister. My sister gave me money when I helped her to clean the house, wash the dishes, do the laundry, cook ... sometimes I get more money when I do well the housework and get good grades. I only use that money to pay for travel, books, dictionaries and learning tools, ... I rarely buy clothes or shoes, so every month I save a third of my money. I often keep my money in a piggy bank and when the amount of money in it is big enough I will send it to my bank card and pay for the necessary: ​​class fund, union fund ... or can pay a portion for tuition. I always try to save and limit spending on unnecessary things and I really like this. I believe that I will know how to manage my budget and will minimize the problems of money.

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Nini's picture
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Nini 5 November, 2019 - 04:46

My parents give me some pocket money every month .I I only spend on necessities like for renting house , food and drink . And I try to save money every month by keeping it in piggy bank.

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Iiamhina's picture
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Iiamhina 3 November, 2019 - 12:46

My parents only give me tuition fees, so I have to take care of the remaining expenses. It's quite hard for me at the first time. I earn myself a part-time job. Although the work I'm doing does not give me a lot of money, it does help me with some of my meals or living expenses. I try to save money every month by keeping it in the bank, on the other hand, I'm quite wasting money on clothes or food for myself.

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nguyenthao0808's picture
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nguyenthao0808 1 November, 2019 - 06:00

Families are a good way to earn money. My parents usually support me by giving me money when I have high grades and do chores. I like to save my money and try to get more. This may make I feel that this money is mine and I worked to get it in many ways. My parents may pay me extra if I regularly wash dishes, take out the trash, clean the house, vacuum... I ask my family members if they need any work done. As I get money, write down the date and the amount I got in a log book. I often keep my money in a piggy bank or a safe place such as a wallet, jar, or box. This will help me keep track of my money, so I know if I have lost any, as well as help I keep track of how much I have saved.

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kieunguyen_1076's picture
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kieunguyen_1076 24 October, 2019 - 09:27

To be honest, I have already had pocket money and sometimes I ask my parents a little money when my income runs out. Although I am doing 2 jobs, my salary is still not sufficient. Recently, I spend money on travelling, eating and petrol. It costs too much that I will be poor soon. Next month, I promise that I will save money as much as possible.

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editor_rachael's picture
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editor_rachael 25 October, 2019 - 13:57

Hi kieunguyen_1076,

 

Thanks for your comments on LearnEnglish Teens. This website is specially for teenagers aged 13-17 years old but it sounds like you are older than that. You are welcome to keep on using LearnEnglish Teens but if you are over 17, please do NOT post any more comments as we must keep this strictly for teenagers to interact with each other. 

 

Best wishes,

 

Rachael
LearnEnglish Teens team

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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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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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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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