Last updated at 09:33

Should you have to earn your pocket money?

Pocket money

It's news that will delight your parents but may disappoint you guys!

Doing household chores or even a paper round for money could help young people become better savers in the future, according to a new study.

Researchers from the Royal Economic Society found that the more pocket money kids are given, the more likely they are to spend it all straight away.

But those who had to earn their cash from a young age were more likely to take care of their money and save.

Your comments

"I think kids should have to earn pocket money because earning money is like having a job and that will help kids in the future."

Jess, Ripon, England

"I think all kids should get pocket money because you can save up lots. I get £2 every week from my grandma and granddad."

Melinda, Manchester, England

"I think kids should be getting pocket money but if like they were naughty all week then straight away they should not get money."

Ethan, Merseyside, England

"I think kids should earn are pocket money because it teaches you the value of money and helps you learn to look after yourself."

Freya, Dover, England

"I think it will be a great way to get kids to save their money and it will make them appreciate what our parents do for us."

Josephine, London, England

"I don't get any pocket money unless I earn it. I appreciate my pocket money because I've work hard for it."

Rosie, Kent, England

"I think that you should earn pocket money yourself by doing chores and jobs like a paper round."

Hafsah, Birmingham, England

"I don't get pocket money but I think it's a good idea if kids do get some for doing chores and tasks because it helps them to be less lazy and they still get a reward."

Nicole, Dublin, Ireland

"I get 10 pounds pocket money each month but I have to be good all month and keep my room tidy, so I do kind of earn mine."

Sophie, Northamptonshire, England

"I don't think kids should earn their pocket money, they are going to spend the rest of their life working so shouldn't they have fun in their childhood?"

Poppy, Hartlepool, England

"I get £5 a week if I do all my chores and I think kids should have to work for their pocket money because it's a big part in life when you grow older and you shouldn't waste it on stupid stuff."

Amy, Staines, England

"I think kids should earn pocket money because then they can buy their own sweets and then they can buy what ever they want so."

Jess, Brighton, England

"I earn pocket money but I have to do jobs to earn it. I think it's a good idea to have to earn it because it teaches us that we have to work to earn a living. It also teaches us to save up money."

India, Bath, England

"I think children should earn pocket money by working as it would be experience for them and they will learn about how earn and save money."

Ekin, Enfield, England

"I think you should earn it, I mean our parents have to earn the money they give us so why shouldn't we?"

Matilda, Wiltshire, England

"I only get £1 a week and I do loads of chores just to earn it. My friends get about £10 a week and they do nothing. I complain to my parents but they just say my friends are spoilt."

Ira, Newcastle, England

"I earn £10 a month if I'm good and with that, a good £8 will go towards my pets as everything for my hamster I buy myself apart from food and bedding. I don't think children should have pocket money for no reason unless its for pets, or things you need, or for your family. Kids who just spend all their pocket money on food and drink don't learn anything."

Max, Bristol, England

"I get £10 a month if I do every chore that I am asked to do. I have been saving from a young age and I do not want to spend my money all at once as it would be all gone when I want to buy something I really need!"

Eloise, Eastbourne, England

"I think kids should earn pocket money because when they're older they will learn everything is not free."

Aaliyah, Oxfordshire, England

"I think kids should have to earn their own pocket money because if they don't they won't be bothered to get a job when they're older because they know their mum and dad will just give it to them without them doing anything."

Iseult, Belfast, Northern Ireland

"My mum gives me and my brother £3 each per week and I don't have any tasks assigned that I have to do, but I choose to help out with the dishes. I think that self motivation works better for me because then the pocket money seems like a reward rather than a bribe.

Hannah, Edinburgh, Scotland