A broken piggy bank with coins spilling out

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

Instructions

Do the preparation task first. Then read the article and do the exercises to check your understanding.

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?

Average: 4.2 (5 votes)
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Comments

Submitted by Tsutsuna on Thu, 12/08/2022 - 09:00

My parents use to give me pocket money every week to hang out with my friends, and I use to save a part of it for future needs. Personally, I prefer to save money to achieve my dreams than spending them on valueless gadgets. Maybe now I can't buy everything, but in the future I won't regret.

Submitted by Ksenia01 on Thu, 01/06/2022 - 21:25

I have my pocket money from parents. I usually try to save the biggest part of money for something needful. eg I spent some money to have more expensive present for my last birthday.

Submitted by Arivelde on Tue, 06/15/2021 - 13:04

No, my parents don't give me any pocket-money and I don't do any job to get it. I live in a dengerous place in the middle of nowhere, job isn't a very good option arround here.

Submitted by hermione123 on Sun, 01/17/2021 - 07:05

My parents don't give me any pocket money, and I don't have any part-time job too. Part-time jobs not so popular in my neighborhood, I think. So, if I want to buy something I will ask my parents to buy it for me. And then, my parents will considering about the thing I want to buy.

Submitted by KieuTraNguyen on Wed, 06/24/2020 - 10:42

My pocket money is received from my parents, including my oldest sister. In addition, now I have take myself a part-time job to bring back my pocket money, I have a bank account, every month my parents send money to me, if I use less then the money I saved up to make ends meet will increase.

Submitted by pascuettegabrielle on Thu, 03/19/2020 - 14:15

Hello, I don't have money ...

Submitted by blackwidow on Fri, 11/29/2019 - 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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Submitted by linhdan83 on Thu, 11/28/2019 - 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.

Submitted by LinhNguyen_2208 on Wed, 11/27/2019 - 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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Submitted by JoModerator on Wed, 11/27/2019 - 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)

In reply to by LinhNguyen_2208

Submitted by ABC_01 on Wed, 11/27/2019 - 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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Submitted by JoModerator on Wed, 11/27/2019 - 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)

In reply to by ABC_01

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Submitted by pink1208 on Tue, 11/26/2019 - 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.

Submitted by _nguyenthanhtom on Tue, 11/26/2019 - 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.

Submitted by Kimkhanh305 on Tue, 11/26/2019 - 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!

Submitted by HoangHa_000 on Mon, 11/25/2019 - 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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Submitted by Tina - Coordinator on Mon, 11/25/2019 - 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)

In reply to by HoangHa_000

Submitted by yennhi2k0 on Sun, 11/24/2019 - 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.

Submitted by lkngan on Thu, 11/21/2019 - 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.

Submitted by editor_rachael on Sat, 11/23/2019 - 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

In reply to by lkngan

Submitted by havy230819 on Wed, 11/13/2019 - 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.

Submitted by haahaa0912 on Mon, 11/11/2019 - 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.

Submitted by Quocvu on Mon, 11/11/2019 - 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

Submitted by Sugassi61nna8ntu on Sun, 11/10/2019 - 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.

Submitted by Hiep on Fri, 11/08/2019 - 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.

Submitted by Nini on Tue, 11/05/2019 - 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.

Submitted by Iiamhina on Sun, 11/03/2019 - 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.

Submitted by nguyenthao0808 on Fri, 11/01/2019 - 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.

Submitted by kieunguyen_1076 on Thu, 10/24/2019 - 08:27

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.

Submitted by editor_rachael on Fri, 10/25/2019 - 12:57

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

In reply to by kieunguyen_1076

Submitted by Trucnguyencute on Sat, 10/12/2019 - 08:47

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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Submitted by JoModerator on Thu, 10/10/2019 - 16:12

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)

Submitted by single462 on Wed, 10/09/2019 - 16:47

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.

Submitted by AyuNguyen on Tue, 10/08/2019 - 15:52

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.

Submitted by Trucnguyencute on Mon, 10/07/2019 - 16:50

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

Submitted by kimphuc21 on Thu, 10/03/2019 - 05:01

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.

Submitted by LeHongThinh on Thu, 10/03/2019 - 04:59

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'.

Submitted by trucdaomai on Wed, 10/02/2019 - 02:02

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.

Submitted by ThanhLam on Mon, 09/30/2019 - 16:45

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.

Submitted by kimthao_60nna2 on Mon, 09/30/2019 - 02:03

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

Submitted by 2028131 on Sun, 09/29/2019 - 14:38

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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Submitted by LeDuyen_11 on Sun, 09/29/2019 - 11:13

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.

Submitted by hamynguyen on Sun, 09/29/2019 - 04:23

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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Submitted by Tuan_Quoc on Sun, 09/29/2019 - 03:44

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.

Submitted by mary_nguyen on Thu, 09/26/2019 - 13:46

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.

Submitted by Noelle on Wed, 09/25/2019 - 14:10

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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Submitted by Youjiro on Mon, 03/04/2019 - 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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