POCKET MONEY REFUND; Children help parents with financial strains.
CHILDREN are taking pressure off their cash-strapped parents by handing back pocket money and asking for modest gifts.
A study found that almost 50 per cent of children earn their pocket money by doing chores and a quarter of 12 to 18-year-olds have a part-time job.
And one in five in the same age group has even offered to give some of pocket money back and more than a third have asked for fewer or cheaper presents for Christmas and birthdays.
The Asda Mumdex research found that parents also believe the recession has made their children more financially savvy and responsible.
Two thirds of mums of youngsters between 12 and 18 say their children are aware that the family is having to watch the pennies.
And half believe they are more aware of money and its value as a result of the economic gloom. Asda's Hayley Tatum said: "The economic downturn has created significant challenges for the younger generation, particularly in terms of employment prospects, so it's good to see that the recession has had some positive outcomes."