In adolescence, a pedagogy of pocket money?

Many teenagers regularly receive small amounts of money from loved ones, which they often spend in a friendly environment. This is commonly called “pocket money”. According to the Pixpay barometer, established with a sample of 1,000 parents of teenagers in college and high school, 92% of French teenagers will receive it, from the age of 11, upon entering college.

For 42% of them, this donation is regular, for an average amount of 30 euros per month. With age, the value of penetration increases. Between 10 and 12 years old, the amount received was on average 18 euros against 26 euros for 13-14 year olds, 37 euros for 15-16 years old and 44 euros for 17-18 years old.



Read more: Money in one click: unequal young Swiss in front of their screens


However, the use of pocket money remains gender: the main object of spending for 87% of girls is the purchase of clothes, whereas it is the purchase of video games for 78% of boys.

The piggy bank is done!

80% of parents decided to give pocket money to their offspring to teach them the value of money, introduce them to the management of a budget and give them financial autonomy. From an early age, children can have access to a bank account as well as a dedicated application, or even an associated credit card.

Although the payment card is recognized by parents for its practicality (55%) and its educational component (73%), only 26%of teenagers today have a card in their name. How is the penetration of the 21stat century, dematerialized, can it contribute to the process of economic socialization of young people?

1963: How do men spend their money? (INA Company, 1963).

Since the Covid-19 health crisis, 32% of teenagers have reduced their visits to stores, while 27% of them have increased their online purchases. Having a bank account becomes interesting for teenagers in such a configuration. Including bank cards, current accounts and innovative mobile applications at low prices, the offers of neo-banks, which are newly landing on the market-Freedom (formerly Kador, in Boursorama), Xaalys, Pixpay or even Cards-exclusively targeted young people from 10 years of age.

Some go so far as to build a connected wallet, such as Money Walkie, an electronic wallet that recharges through an application and allows the child/adolescent to make small expenses with merchants.

At a time when money will be condemned to disappear to give birth to a “no cash” society, the virtual wallet is emerging as a way of contributing to the process of economic socialization of young people, by experimenting. in managing a budget. , even if stored. almost, and having a deeper discussion with parents about financial education.

Symbolic duty

Money is not only a medium of exchange, it also has a significant symbolic role. So what does money mean for young people?

One study, conducted on 510 French and American adolescents (233 men and 277 women, ages 12 to 18) and published in The French Marketing Reviewexamined the representations of young people on this topic and showed the existence of four main symbolic meanings of money: status, concern, fulfillment and security.

92% of French teenagers have received pocket money since the age of 11.
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The postman status is defined as the tendency to perceive money as a sign of prestige. L ‘success also measures the tendency to consider money as a sign of success, but more so through the prism of self-realization. The size security represents the desire for protection that money inspires in the face of future uncertainty. The size worry refers to the idea that money, especially the lack of money, can be a source of anxiety for young people.

The results highlighted the positive influence of age on money anxiety. Thus, during the passage to high school, the teenager incorporates that the money at his disposal no longer necessarily secures his future. He also begins to engage in paid activities (inside and outside the domestic sphere) and realizes that any salary should be earned. The source of money (donation vs. benefit) thus plays a significant role in the perception of money as a means of fulfillment, of claiming a social status or a source of concern.

Self -earning money, through paid activities, is a way for young people to meet their consumption needs or preferences, while allowing parents to fulfill their role in teaching: teach meaning of life. ‘effort. It also allows young people to see money as a source of self -fulfillment, whereas the reality of dependence on pocket money can feed the fear of lack of resources.

Consumption strategies

These perceptions of money (as a source of self-fulfillment, status, security or concern) allow us to better understand the different consumption strategies adopted by young people: the ability to search of beneficial prices, brand preference, finding something new, ability to research information before buying, peer group consultation before buying.

1973: Youth and well -being (INA Société, 1973).

Analysis of the results showed that there is a significant and positive relationship between the dimensions of safety/concern and the ability to seek favorable prices, as well as the dimensions of self-fulfillment/status and brand preference as well. the freshness of the search.

In other words, teenagers, who see money as a source of security, tend to spend according to a logic they consider reasonable, the first rule is not to spend more than they can afford. To meet this requirement, there are many strategies: find the best price or get information before buying.

Conversely, young people, who represent money as a source of self-fulfillment or social status, try to meet their need for social diversity (that is, the search for the new) and social approval (i.e., seeking social support before buying, importance given to brands).

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