Financial education week: how much pocket money do young French people receive?

Marny Poyet / Photo credit: RICCARDO MILANI / HANS LUCAS / HANS LUCAS VIA AFP 6:06 p.m., March 24, 2024

There is no age to learn how to manage your money. This could be the slogan of the financial education week which ends this Sunday. And, according to the French Banking Federation, 44% of 8-14 year olds receive on average 29 euros per month. So how do they manage this little nest egg? For the occasion, Europe 1 went to meet them to ask them the question. 

"I need more"

"I learned them at school. One cent, two cent, five cent coins...". Léon already knows all the pieces, but at seven years old, pocket money is not going to happen right away. Most parents start giving them in middle school. The amount varies, but for these young foodies, it's never enough. “I only have 10 euros, that’s all. I need more,” said a first schoolgirl. “Five euros per week, if I am good, if I respect the rules. I would like more,” replies another student at the microphone of Europe 1.

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But for some parents, money doesn't fall from the sky, it has to be earned. And Noémie, 13, understood this well. "When I tidy up the whole house, she gives me 10 euros. When I tidy up my sister's room, knowing that it is super complicated to tidy, it's 10 euros. And when I keep my little brother for an afternoon, it’s 20 euros,” explains the young schoolgirl. Thrifty or empty baskets, these new consumers have chosen their camp. 

“I buy everything and anything. In fact, as soon as I find something I like, I buy it,” says a young student. But for another, the expenses are more thoughtful. “There’s no point buying things you’re going to use for 30 seconds. It’s better to keep the money for things that are really useful,” she explains. Understanding the value of money can take time, but some are on the right track.