Romania ranks low in ING’s ranking on pocket money given to kids, Italian parents being the most generous, followed by those in France and Spain.

Romanian kids aged under 10 receive an average of EUR 2.25 per week from their parents, while those aged between 10 and 15 get EUR 3, according to the ranking. The teenagers aged over 15 receive the equivalent of EUR 11 as pocket money from their parents.

In comparison, Italians aged under 10 receive EUR 5 per week as pocket money, those aged between 10 and 15 receive EUR 10, while those aged over 15 get EUR 30 from their parents.

Italy ranks first in ING’s ranking, followed in order by France, Spain, Austria, Belgium, Germany, UK, Turkey, Poland, Romania, the Netherlands, the Czech Republic and Luxembourg.

“Italian parents top the 2014 pocket money index, being the most generous in a ranking of all age groups. Next are France, Spain and Austria. At the other end of the spectrum are Romania, the Netherlands and the Czech Republic, but exchange rates and lower average incomes are likely to be a factor in two of the countries here,” reads the ING report.

According to the bank, people who received pocket money as a child are more likely to regularity add to their savings, save for retirement and show greater financial competence in other areas too.

A total of 13 countries are compared in this report, about 1,000 respondents being surveyed in each of the countries. Find the entire report here. It is uncertain however if the comparison between the pocket money given in these countries takes into account the difference in average revenues and in prices on the respective markets.

Irina Popescu, irina.popescu@romania-insider.com