British Journal of Developmental Psychology

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Volume 2 Issue 3 (September 1984), Pages 191-286

Pocket money: A study of economic education (pages 205-212)

Despite the fact that some work had been done on children's conceptions of economic affairs, very little work appears to have been done on children's use of money. This study set out to examine sex, age and class differences in 7–12‐year‐old children's pocket money/allowances. Males and females, from middle‐ and working‐class backgrounds in three age groups (7/8, 9/10, 11/12), completed a questionnaire which sought to establish such things as the amount of pocket money children received; other sources of income; whether they were required to work for their pocket money; whether and how they were encouraged to save it, etc. The results showed that, whereas there were few sex or class differences, there were a large number of significant age differences. The results are discussed in terms of the children's socialization and experience of money. Limitations of this research and suggestions for further work in this field are noted.

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