Kiwi kids don't get pocket money - but for those who do, boys
get almost $3 more a week on average than girls, according to
a bank's customer questionnaire.
It shows children spent 2.4 hours a week doing chores, with
girls more likely to clean the bedroom and do the dishes and
laundry and boys more likely to take out the rubbish, mow the
lawns and clean the car.
The findings are included in the Westpac Money and Kids
Report, a nationwide survey commissioned to understand the
financial habits of children. The research surveyed 540
Westpac customers, all with children aged between 4 and 18.
Angela McLeod from the Pay Equity Challenge Coalition said it
was "a blight on society" that the gap in wages started so
young, and proved just how much attitudes needed to change.
Especially because boys and girls spent the same amount of
time doing chores - 2.4 hours a week - but the pocket-money
gap was $2.70.
The questionnaire showed that of those who received pocket
money, boys were paid an average $12.50 a week and girls an
The most common chore was making the bed, with 78 per cent of
boys and 89 per cent of girls usually doing that to earn
money. The least common chore was mowing the lawn.
Eighty-four per cent had a bank account, but 65 per cent had
no weekly savings and 37 per cent of the parents surveyed
said their children had a poor- to below-average
understanding of the value of money. However, 48 per cent of
children had a good to excellent understanding.
Westpac's general manager of business bank, private bank,
wealth and insurance, Simon Power, said the report showed
that New Zealand children weren't getting life lessons on
understanding money, how to save it and an associated
"Doing chores at home for pocket money is one way a child can
start to understand how to earn money, save it, value it and
a lot more.
"The home is an influential learning environment for creating
habits, behaviours and shaping views."
The chief executive of the Mangere Budgeting Service, Darryl
Evans, supported giving children half their age in pocket
money and teaching them to divide it into thirds - some to
save, some to spend and the rest to donate.
Children who learned to save became more financially literate
$10 The average weekly amount of pocket money for under 12s
2.4 hours Average amount of time Kiwi kids spend on chores
65% of kids have no weekly savings
55% of kids don't get pocket money
Pocket money amounts: $12.50pw for boys versus $9.80pw for
Westpac Money and Kids Report