Pocket change: Say goodbye to cash as children ask for extra screen time, sweet treats
And in-game purchases in new pocket money trend
OFFICIAL PRESS RELEASE
NEWS PROVIDED BY
• The great rewards swap: 84% of British parents are turning to different types of pocket money to reward their children
• Modern kids, modern rewards: While 1 in 5 mums and dads still favour pocket money (23%), extra screen-time (18%) and in-game purchases (13%) are among the most popular alternatives
• Data pocket money: For parents looking to change-up pocket money, Sky Mobile is making it easier for them to share their spare data as a reward for children instead of cash
New research from Sky Mobile has revealed that traditional pocket money is no longer king, with 4 in 5 parents (84%) now turning to alternative 'payments’ with extra screentime on devices (18%), sweet treats (13%) and in-game purchases (13%) coming out on top.
The study found that half of parents surveyed have completely replaced traditional cash as a reward, with 56% choosing to give other treats to stop their kids spending their money all in one go, and 44% preferring alternative methods as it is cheaper.
While some parents are still giving money, over a third (36%) would consider switching to other rewards as a savvy alternative.
Top ten alternative pocket money rewards:
While 1 in 10 (10%) parents already share extra data as a thank you, 43% wish that their mobile network offered data sharing to reward their kids with ‘data pocket money.’ In fact, it’s been revealed children ask for extra mobile phone data three times a month, and of those who can share data on their mobile network, the going rate per chore is 3GBs – helping to keep youngsters connected and entertained.
To dig into the nation’s pocket money experiences further, Sky Mobile has teamed up with Louise Redknapp to share some of her own family anecdotes.
“Like lots of parents, I’ve also been asked by my kids for a variety of alternative ways for them to receive their pocket money,’’ said Louise Redknapp. Mixing it up by purchasing extra mobile data, mobile gaming credits, or a bit more screen time is great way to encourage children to help around the house and reward good behaviour - it’s a successful tried and tested method in our house. And to help us parents, Sky Mobile lets you share your spare data – a fab alternative to say thanks.”
Also commenting on the findings, Paul Sweeney, Managing Director of Sky Mobile said: “Rewards for children helping around the house can come in all shapes and sizes, and for the modern-day kid, money isn’t always top of the list. So, to help make it easier, parents on Sky Mobile can share spare data with other SIMs on their account, including their kids, as a thank you.”
Pocket Money Rewards
Looking around the country, parents from London are found to be replacing pocket money with extra screen time (39%) and mobile data (25%) the most.
And almost a third of families living near the West Midlands are indulging their child’s sweet tooth, seeing sweet treats and chocolates (30%) as the biggest incentive for getting a helping hand.
While children may need some encouragement, their helpfulness isn’t going ignored with them earning £15 on average every month – reaping the rewards from their parents on a weekly basis (39%).
With a total of 4 chores being completed each week, the tasks that kids are most willing to help with include setting or clearing the table (48%), washing up (37%) and unloading or loading the dishwasher (36%).
But when it comes to the chores parents feel deserve a reward most, cleaning the bathroom and helping to put the food shop away top the poll (12% respectively).
And looking at the benefits parents see when offering treats in return for help around the house, over a third (37%) believe that it will show their kids that hard work gets rewarded, alongside learning positive financial behaviours (30%).
Sky Mobile is making it easier for parents to reward their children with spare data. On the award-winning network, any spare data is rolled over into a customers’ Sky Piggybank at the end of every month, meaning parents can share with their children – helping them to stay connected with friends and family, and keep them entertained with their favourite shows, movies, and apps.
November 17, 2022 4:00am ET by SKY