5 min read

Children’s Rites of Passage

What is the right age to start receiving pocket money? What about having social media profiles and using the internet unsupervised?

We asked over 2,000 parents with children between four and 18 about the ages their children reached important milestones and their attitudes towards them.

According to the research today’s kids get their first mobile phone at ten, are allowed social media profiles at 12 and get their first cash card at 13.

76% of parents are worried about the ages that children will reach life milestones, with 20% saying they struggle to know when the right time is.

How do parents make their decision about when their child should reach these milestones? More than half said they use their instincts. A fifth said they talked to other parents about it and over a third wait for their kids to ask.

Establishing good financial habits early is a good way to help your kids achieve their financial ambitions. Find out about helping your kids save for the future with our Children’s Savings Guide.