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Finnish children receive most pocket money in Nordics

Kids in Finland tend to receive an average monthly allowance of 28 euros from their parents for discretionary spending.  

Nuori käsittelee rahaa.
Parents in Denmark, Norway and Sweden report smaller allowances in a poll. Image: Toni Pitkänen / Yle

Finnish children receive the most pocket money from their parents, according to a poll from Danske Bank that asked families in Norway, Sweden, Finland and Denmark to report their children's monthly allowances.

Parents responding to the poll in Finland reported giving their 8-14 year-old children 27.60 euros per month on average, or 6.35 euros per week.

Children in Denmark and Norway received about 24 euros each month on average, while in Sweden the monthly amount was closer to 22 euros.

Adjusted for purchasing power, the Finnish average allowance still comes out on top in the comparison, but in this scenario, the Danish amount drops to the bottom.

The study into pocket money was carried out on behalf of Danske Bank by the data analytics firm YouGov. It included responses from more than 3,500 parents of children aged 8 to 14.

Parents in Finland have lower earnings

The finding that Finnish parents appear to be more generous in granting pocket money to their children is made more remarkable by other figures that show that, on average, Finnish earnings are lower than in Sweden, Norway and Denmark.

"That's why it's surprising that Finland came out on top. It can partly be explained by the fact that children in Finland tend to start receiving an allowance at the age of 10, when in other countries, parents start giving their kids pocket money earlier. The monthly allowances were larger for older children across all of the countries," says Jukka Appelqvist, an economist with the Finnish branch of the Danish-owned bank.

66% receive an allowance

Previous Danske Bank studies have found that two-thirds of children in Finland receive pocket money from their parents in the form of an allowance. In general, it is still given as cash, compared to the other Nordics where electric transfers are becoming more prevalent.

In Finland, 58 percent of parents taking part in the survey said they give their children pocket money so they will learn the value of work. Over 70 percent of the children are expected to clean their rooms, and 60 percent are required to do odd jobs around the house, like washing the dishes or bringing out the rubbish.

In Sweden, parents report that their main impetus in giving their children pocket money is to teach them to save. Over 20 percent of Swedish children are not expected to do any work in return.

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