Parents of Midlands teens face pocket money bill of over £5,362

Teenagers in the East Midlands can expect to receive, on average, £766 in pocket money annually, according to a new study by National Citizen Service.

Two thirds of parents claim to give their teens a weekly allowance. This means from the age of 13 to 19 they will face a total pocket money bill of £5,362.

But 21% of parents polled believe they don’t give their teens enough money to buy what they need, and wish they could afford to give them more.

West Midlands teens get the most pocket money per week on average (£15) but those in the south west are given the least (£9).

London’s youngsters feel they will need over £28 per week to be able to enjoy their summer, £13 more than those in the East Midlands who say they can get by on £15 per week.