A major study into the spending habits of the nation by PriceRunner.co.uk, the price comparison service, shows that the average Brit puts aside £164 a month in pocket money, or £37.85 a week. This works out at around 11% of the typical UK salary.

The PriceRunner service allows customers to search and browse a wide range of products – from TVs to washing machines and compare prices, product specifications and retailers.

Who holds the purse strings?

One in five Brits allow their pocket money to be controlled by a partner. The Index revealed that younger people are the least independent with their money. Four out of 10 16-29 year olds let their girlfriend/boyfriend or husband/wife allocate their pocket money to them, compared to just 7% of the over 60s and 12% of 45-60 year olds.

Top pocket money purchases

The Adult Pocket Money Index revealed the top five items people purchase are: booze, meals out, clothes, magazines and chocolate. 495,000 men also admitted to spending their pocket money on sexy underwear for themselves!

The internet is making a substantial dent on personal allowances with a third of Brits splurging on impulse online buys. iTunes purchases are the biggest pull for men (21%) and shopping sites are where women are most likely to spend their cash (20%).

Hey ‘over’ spender

A third of the UK population admit to regularly exceeding their allowance, with men identified as the biggest over spenders – 37% compared to 30% of women. Men are also least likely to confess to a partner when they go over their allowance allocation.

Cigarettes and alcohol

Alcohol is the most popular purchase for Brits to spend their pocket money on, with over a third (35%) citing this as their main expense. And despite the imminent smoking ban in England and bans in Scotland and Wales already in force, almost one in five people (18%) revealed their pocket money goes on cigarettes.
Gary Goodman, marketing director at PriceRunner UK said: It’s interesting to see the average Brit is consciously setting aside £164 a month for themselves and sometimes for their partner as it shows a mature approach to managing their money but using a childhood method! The internet is a well established spending avenue so we’d advise people to ensure their pocket money lasts longer by checking they are getting a good price online, before they buy on the web or in a store.”

Other key findings
Age group findings

• The 16-29 age group are most likely to have adult pocket money (55%)with 29% granting themselves more than £100 each month
• 16-29 year olds are the biggest fitness fanatics with almost one in five spending their allowance on yoga classes and gym memberships compared to the national average of 9%
• 30-44 year olds have the sweetest teeth with 22% spending their cash on chocolate compared to just 16% of 16-29 year olds
• 30-44 year old age group are the biggest purchasers of make up (22%)
• 30-44 year old age group are the biggest spenders online (25%)
• 14% of people spend their pocket money filling their iPod with tunes from services like iTunes and the biggest music lovers are the 45-59 year old age group (17%)
• Meals out are the biggest indulgence for the over 60s, with over half (52%) citing this as their most popular way to spend their money

Regional findings

• Welsh people are most likely to have Adult Pocket Money (69%)
• The Scottish are the most secretive about how much pocket money they have with one in three not disclosing details of the exact amount
• Scots and Londoners are the most likely people to exceed their pocket money allowances, at 50% and 39% respectively
• Londoners and those from the Midlands are least likely to splurge on beer with only one in five splashing out on booze compared to the national average of 35%
• Londoners are the biggest clothes horses with four out of ten spending on a new wardrobe
• Computer games are the most popular in the South East with 13% spending their money on them compared to a national average of 8%
• Londoners have the biggest restaurant choice and it shows with 42% regularly spending on dining out. Takeaways are the most popular in East Anglia

Regional Pocket Money Differences

Top 10 Adult Pocket Money purchases

* Based on average spend of £164 a month by 49% of the UK’s adult population ** Based on UK average salary of £23,244 pa after tax – National Statistics online ***3% of men who use pocket money based on a UK adult population – Yahoo Questions

Notes to editors: • Survey conducted by SNS research in May 2007. Sample size = 1,000

About PriceRunner (ValueClick, Inc.)::
www.PriceRunner.co.uk, a division of ValueClick, Inc. (Nasdaq: VCLK), is the UK’s most comprehensive and independent price comparison company. Online prices are updated on a daily basis by a specialist team that develops and manages cutting edge technology which hunts down the cheapest online prices available. PriceRunner is unique in that, unlike other price comparison sites, a dedicated team of PriceRunners also checks prices in high street stores. PriceRunner always lists the cheapest price first and is completely independent in that it lists all retailers, regardless whether they pay or not, to provide consumers with a complete overview of the market.

About ValueClick::
ValueClick, Inc. (Nasdaq:VCLK) is a leading global provider of digital marketing solutions, enabling advertisers, agencies and publishers to reach consumers through all major online marketing channels. Through its four main businesses; vcmedia, Commission Junction, Mediaplex and PriceRunner, ValueClick provides a comprehensive portfolio of digital marketing solutions.

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