Roblox Game – Roblox Game – Pocket Money Priorities: Kids Spend More on Games (and Less on Candy) | Zoom Fintech | Zoom Fintech

Roblox Game – Roblox Game – Pocket money priorities: kids spend more on games (and less on candy) | Zoom Fintech

Roblox game – Pocket money priorities: kids spend more on games (and less on candy)

The number of kids spending their money on computer games has increased for three years in a row, and while candy is still the number one spending choice, games seem poised to take over, new research shows. .

The latest results from the Halifax Pocket Money Survey show that the most popular way for young people to spend their pocket money is to buy sugary treats (42%), but overall more children target their money on games (40%), applications (13%). and downloads (14%). This digital shift reflects the growth of gaming, via ever-popular consoles like Xbox and PlayStation, as well as newer services like the Google Stadia and Twitch streaming platforms, meaning the UK gaming market is expected to grow in value from £ 5.4 billion in 2020 to £ 7 billion in 2024.

Over the past three years, about four in ten children have consistently referred to candy as a spending money purchase, but gambling has risen sharply. In 2019, about one in three (31%) paid for the games. That figure is now 40%, with barely a blue hedgehog tail being the top spending choice among children. If this trend continues, gambling could become the most popular pocket money purchase next year.

The girls light up

Figures reveal boys are more than twice as likely to spend on games as girls (23%), with FIFA21 the UK’s top-selling game last year alongside Fortnite online games Minecraft and Roblox which remain popular with young players.
The survey shows that boys also favor other technological expenses: twice as much for the purchase of applications (17%) and digital downloads (19%) than girls (9% and 8%). Almost a quarter of girls (23%) choose to spend their pocket money on gambling, up from just 18% twelve months ago. Much of the increase was due to a surge in the popularity of games among young girls (ages 8-11), where spending on computer games rose from 19% to 26%.
Money typically spent on computer games, apps, and in-game currency, like “V-bucks” in Fortnite or “Robux” in Roblox, which support the game by purchasing additional lives and “skins”.

What do you spend your money on? All kids aged 8-15.

Backup game

Among British children, three-quarters (77%) save at least some of their weekly pocket money. Over the past five years, however, the two main things they save for have remained the same: computer games and clothing. There are differences in the savings goals between boys and girls. Girls, on the other hand, tend to focus more on saving money for fashion, gifts for family and friends, and more traditional toys.

What do you save for? – all kids who save some pocket money

Emma Abrahams, Head of Savings in Halifax, said: “This is Grand Theft Bought-O because our survey shows that games, apps and downloads have become the most popular way for kids to spend their pocket money and, at the same time, 77% of children save at least some of their pocket money. Good money management is all about balance: a mix of thoughtful spending and savings is the best way to help kids understand the value of money and basic budgeting.

“It takes commitment and patience to reach a savings goal, especially for children, who can be easily distracted. Parents may have different ideas about what their children should save for, but this type of discipline is a good sign that children are developing their understanding of money management.

Case Study: Becky Dodds, Communications Manager (38), lives with her two children, Annabelle (12) and Stanley (9) in Chepstow.

“Stanley is my youngest and he gets £ 1 a week, but I’ll bump that up a bit if he helps around the house. Annabelle – my oldest – is 12 years old and her pocket money varies depending on what she wants to do. I’ll give her five if she goes to town with her friends. She’s already a bit frugal – she goes camping with her best friend’s family, so she likes to keep some of her money to spend when they’re away.

I’m pretty strict with pocket money – my kids get what they get, so they have to think about how they’re going to use it – my money is not up for grabs!

“In general, however, my children use their pocket money to eat and play! Annabelle will spend his money going into town on hot chocolate and snacks, and while Stanley will be buying some candy, his main expense is in-game currency. He buys Robux or Fornite V-Bucks, to unlock game features or to obtain new “skins” for its characters, in the Roblox and Fortnite games. He’s smart enough – he’ll wait until there’s a deal – to get as many features as possible for his money. Even though he’s young, the game has made him aware of how players are encouraged to make impulse purchases, by setting time limits on the availability of certain things. So he’ll set aside some money for his birthday and wait until it’s really worth it. Kids know pretty quickly which in-game purchases are worthwhile and which aren’t!

“I also put some money aside for them each month – I haven’t decided what this money will be used for yet – but hopefully when they see the lump sum in the future – that will teach them an important lesson in long-term savings. I’m pretty strict on their pocket money – they get what they get so they have to think about what they’re going to use it – my money is not up for grabs!

Roblox game – Pocket money priorities: kids spend more on games (and less on candy)

Tags: Roblox game – Pocket money priorities: kids spend more on games (and less on candy)

Roblox Game – Roblox Game – Pocket Money Priorities: Kids Spend More on Games (and Less on Candy) | Zoom Fintech

Tags: Roblox Game – Roblox Game – Pocket money priorities: Kids spend more on games (and less on candy) | Zoom Fintech


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