According to researchers, on average, children and young people will spend more than £6,000 between the ages of seven and 15, which equates to spending of £10.27 per week for sevento 10-year-olds and an average of £15.25 per week for those aged between 11 and 15.
While the average income from pocket money is £6.84 per week, young people are spending an average of £13.18 per week, which suggests they are gaining additional money from other sources such as part-time work, gifts from family members or from doing additional household chores.
The most popular purchase for children of all ages continues to be confectionery.
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