Provident Kids Costing Logic

Money according to kids

The best things in life might be free, but grown-ups know that the everyday things cost money. Kids are another story.

We explored children’s logic when it comes to cash and asked them to estimate the price of living, average earnings, and how much money they’ll make when they grow up. The results were surprising, often hilarious, and, at times, incredibly cute!

Discover the findings of our survey, watch the video, and learn how you can help your kids be smart with money.

When you grow up, how much money will you make and what do you think your parents spend on household bills? Just two questions we put to our panel of kids to help us to understand their logic around cost.

Watch the video and decide if you would put your child in charge of the weekly shop, or even big purchases, such as your house or car…

What are the most expensive items according to kids?

  1. House £26,000,000
  2. Car £289,000
  3. Seaside holiday £2,020
  4. TV £1,000
  5. Pint of milk £716
  6. Water bill £117
  7. Meal out £62
  8. Washing up liquid £15

This information is based on a survey of 1,000 5 to 12-year-olds conducted between 25/05/17-30/06/17 and 1,000 parents conducted between 25/05/17-30/06/17. The survey was carried out by OnePoll on behalf of Provident.

Did you know?

41% of children think money can buy happiness

20% of children think a holiday costs £500

47% of children do chores to receive pocket money

Tips on how to teach your children about money

Teach your kids how to conquer the weekly shop

Teach your kids how to master the ins and outs of the weekly shop, so they can learn about budgeting, making savvy choices, and saving money. Check out our tips on how to get them involved.

Too good to be true? Learning the real value of deals and discounts

Deals, discounts, special offers… are they ever too good to be true? Shoppers young and old can be bamboozled by the supermarkets, but we’ve tackled the tricks to help you learn how to recognise a good deal – and how to teach your kids to do the same.

4 ways to teach kids to be smart with money

It’s important to educate your kids about managing their money early on. Our 4 easy tips will help you teach them about smart spending, saving, and budgeting, so they can develop skills that will last a lifetime.