Top five things kids spend their money on
12th December 2011
Whether you give them a monthly allowance or some weekly pocket money, children can learn a lot from having a small amount of their own money.
They can learn how to save up for something they really want, how to budget, and how to generally become more financially responsible – something that can come in very handy a few years down the line.
But what do kids really spend their money on? Whether they save their pennies for weeks on end, or rush out at the first opportunity, here are the top five things kids splash their cash on.
Sweets
Believe it or not, you can still get chewy delights of sugary goodness for as little as one penny, even in these tough economic times.
So it is no wonder that kids regularly spend their pocket money on a big bag of cola bottles, strawberry laces and foam shrimps. It’s a solid investment – you can get a pretty large bag-full for under a pound.
Magazines
The children’s magazine industry is big business, with hundreds of titles available for boys and girls of all ages. While they can cost a little extra, they often come with a free gift so children are happy to save up for a couple of weeks to get their hands on a copy.
The Dr Who magazine is currently the most popular children’s title. This is one of the highest selling magazines in the whole market, cashing in on Britain’s current obsession with the Time Lord.
Toys
It often seems like children only want to play with something that requires a battery these days – from handheld games consoles to mobile phones and laptops.
But as long as there are small, simple plastic toys, or the sought-after products in children’s TV adverts, there will always be a toy market.
Toys don’t have to be expensive either; even the smallest and cheapest toy can ignite a child’s imagination.
Ringtones
Gone are the days when only the richest kids got to show off their new phones in the playground. Now it seems like every child has a better phone than most adults. Advances in technology mean ringtones are not just bleeps and tones – they are real songs.
Status is everything at school, and what better way to show off to your friends than with a ringtone of the latest chart hit. Since most ringtones cost under a pound, the majority of kids can save up pretty quickly to get the latest tune.
Games
With all this modern technology out there, kids are spoilt for choice when it comes to entertainment. The way many children choose to spend their time is by playing digital games.
This can be on their smartphone, on their Wi-Fi connected iPod or on their home computer. And with a whole host of free gaming titles out there, you’d think that no money needs to change hands.
But many games now offer the chance for kids to pay money to help them progress through the game. And since every child wants to beat their friends, they are more than happy to hand over their pocket money.
If you want to be sure that your children can continue to enjoy the things they like best after you have gone, Instant Life Cover is a simple way to do this.
It ensures that should you pass away unexpectedly, your family will be left with a tax-free lump sum to help with life’s little expenses.
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