No less than 84 per cent of children now purchase digital downloads with their pocket money despite half of all parents saying they have banned their kids from doing so, according to new research published by the Halifax.
It found that 32 per cent of parents were unwilling to let their children download content for fear of them accessing inappropriate content whilst a further 31 per cent worried about overspending. An additional 31 per cent claimed to download content for their children directly.
Even amongst those parents who sanctioned downloads 62 per cent set a limit on weekly spend, generally set at around the £4-10 mark.
Giles Martin, head of Halifax Savings said: “It is clear that while today’s kids are super savvy when it comes to all things digital, parents still have concerns about their spending online. This is perhaps no surprise, when considering the multitude of shops and downloads available at the touch of a button.
“Budgeting money is a great responsibility and parents need to make sure that by awarding pocket money they are also giving their children the tools to understand the importance of managing how that is spent.”
Children are becoming increasingly digital savvy according to the report with 72 per cent owning a mobile phone and 60 per cent possessing a tablet, with the average phone bill now coming in at £12.50.