"I'm not going to lose it": Teens' pocket money is becoming increasingly dematerialized
Teenagers are losing the habit of using cash . According to a survey by online bank Pixpay, which caters to young people, 54% of 10- to 18-year-olds prefer to pay by credit card, which is becoming increasingly accessible at younger ages. Half of them (47%) even use their phones to make purchases. They are also paying more often online (22.2% of payments compared to 21.6% the previous year).
For young people, it's more practical, and for parents, it's reassuring: there's less risk of extortion and the ability to control spending. On the downside, however, young people learn less to count.
Léna is in second grade. Her parents give her 100 euros each month, and certainly not in cash. "The feeling of losing it, of not finding it... whereas on my card, it's in my account, I'm not at risk of losing it."
Virgil also doesn't like carrying coins in his pocket. It's easier for the high school student to pay with his phone... but it's not without consequences. "I've found myself paying a lot... I have a lot less money right now because of my credit card, whereas before I had more."
Depositing money into an online account rather than giving change is preferable for Peggy. It allows her to keep an eye on her 17-year-old son's spending. "That's how I make little discoveries: he goes to nightclubs, goes out drinking here and there..."
This parental control is a significant advantage, according to Caroline Ménager, co-founder of the Pixpay bank. "Digital money allows for a lot of transparency and ease of use. The idea isn't to be on the child's back, but to be there to support them when needed and ensure things don't get out of hand."
In just three years, teens' pocket money has dropped from an average of €33 to €26 per month, according to the latest Pixpay barometer. As a reminder, cash accounted for 84% of payments in 2019 on French markets. This share rose to 69% in 2022 and then 53% in 2024, according to the latest figures from the Banque de France.
RMC
