When it comes to things like what kids spend money on, this was a much more innocent matter just a few decades ago. If you look at the way kids used to spend their money you would notice that their biggest expenses were generally sweet treats as well as books that they could read. According to a pocket money app by the name of Roostermoney, these spending habits have changed quite a bit now to the point where games such as Fortnite and Roblox have ended up becoming much more popular things to spend money on for kids than candy and books.
According to research conducted by Roostermoney which analyzed the spending habits of 24,000 kids that used the app in the UK, their spending habits involve a lot of purchasing for Roblox when Fortnite coming in at second. These games are free to play but they have customizable skins and other premium features that you can only get if you end up paying for them. Since kids have high levels of emotional investment in these games, they would be willing to hand over cash for these sorts of things.
With all of that having been said and out of the way, before adults come in and start criticizing children for spending so much money on games and the like, the research also showed that kids are much more fiscally responsible these days. Kids are saving upwards of 40% of their pocket money which indicates that they are actually being quite pragmatic about their expenses. It also shows that these kids know the best ways in which they can end up managing their various expenses which is a skill that can come in quite handy once they are older and need to start supporting themselves without any financial help from their parents.
Read next: Study reveals parents’ top concerns about social media
According to research conducted by Roostermoney which analyzed the spending habits of 24,000 kids that used the app in the UK, their spending habits involve a lot of purchasing for Roblox when Fortnite coming in at second. These games are free to play but they have customizable skins and other premium features that you can only get if you end up paying for them. Since kids have high levels of emotional investment in these games, they would be willing to hand over cash for these sorts of things.
With all of that having been said and out of the way, before adults come in and start criticizing children for spending so much money on games and the like, the research also showed that kids are much more fiscally responsible these days. Kids are saving upwards of 40% of their pocket money which indicates that they are actually being quite pragmatic about their expenses. It also shows that these kids know the best ways in which they can end up managing their various expenses which is a skill that can come in quite handy once they are older and need to start supporting themselves without any financial help from their parents.
Read next: Study reveals parents’ top concerns about social media