Pocket money - Ticino and foreigners the most generous

Sack money plays a major role in teaching children financial literacy. This is shown by a new study. But how much do Swiss mothers and fathers pay their children? The differences between the language regions are surprisingly large. Girls also receive less pocket money than boys - at least for a while.

The Swiss are often said to be discreet when it comes to financial matters. Nevertheless, the statement «We don't talk about money» does not apply to parents in Switzerland. Financial literacy for children and young people is an essential educational goal for most parents in this country: almost nine out of ten parents rate financial education as important or very important. At the same time, mothers and fathers in this country place greater value on teaching children how to handle money sensibly than on encouraging creativity, modesty or a focus on success. This is the conclusion of the «Swiss Pocket Money Study» conducted for the first time in Switzerland by the research institutes sotomo and amPuls on behalf of Credit Suisse in collaboration with Pro Juventute .

The typical pocket money amounts are rather small

The typical pocket money amounts are rather small, according to the study, which surveyed 14,000 people. For example, a 10-year-old child receives an average of 14 francs a month, a 12-year-old 23 francs. Children are also generally free to dispose of their pocket money as they wish. Most children receive pocket money for the first time between the ages of six and ten. While the majority of children put money aside without a clear savings goal, others prioritise electronic devices or means of transport.

Girls receive pocket money later - but then more

On average, girls receive pocket money later than boys. Among five to seven-year-olds, 43 per cent of boys receive pocket money, but only 28 per cent of girls. The gap narrows slightly between the ages of eight and eleven: 81 per cent of boys receive pocket money compared to 72 per cent of girls. The difference practically disappears for twelve to fourteen-year-olds. It is interesting to note that when girls receive pocket money, they receive slightly more than boys.

When it comes to dealing with pocket money, a rösti trench is opening up.

In most Swiss households, pocket money is a training ground for handling one's own money, but not for the principle of remuneration. Almost two thirds of children receive pocket money without having to do anything for it. And even if parents trust their children with skills from an early age, handling cashless payments is clearly not yet one of them, even in the digital age. On average, parents do not trust their children to have their own bank card until they are 16 years old.

Romands pay their children less pocket money

However, there is a small divide in the amount of pocket money: children up to the age of 11 receive the same amount of pocket money in French-speaking and German-speaking Switzerland. After that, German-speaking Swiss parents spend much more on their children's pocket money. For example, a 14-year-old child in German-speaking Switzerland receives almost 50 francs a month. In French-speaking Switzerland, the average is not even 30 francs. According to the researchers, this is due to the fact that the French-speaking part of Switzerland starts paying out pocket money later and at a lower level. Even though Ticino residents pay their children more pocket money than mothers and fathers in German- and French-speaking Switzerland, for example, foreigners are the most generous parents. Their children receive more pocket money than those of Swiss parents.

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