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Piggy bank fair game if it's needed

© iStockphoto/amphotora

RESEARCH by Bankwest has revealed the depths some Queensland parents will sink to in order to buy a loaf of bread or fund a night on the town - raiding their kid's piggy bank.

The research reveals that 28 per cent of parents admitted to pinching money from their child's money box to pay for anything from a litre of milk to funding a new air-conditioner.

On a brighter note, the report also found that 55 per cent of parents give their kids pocket money, with Queensland kids getting $10.60 a week.

Queensland kids also start getting pocket money at five-and-a-half-years-old (the youngest nationally) with the bounty ending by the time they turn 17-years-old.

While the Raiding the Piggy Bank report highlighted these and other positive pocket money trends, it also revealed that many parents increasingly turn to their kids as lender of last resort.


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