Parents unaware teens ‘worth £500’

Teens with gadgets

Teens with gadgetsKnowing how much pocket money to give your teenage children can be tricky - you're on a tight budget and want to teach them the value of money, but you don't want your kids to miss out or feel inferior around their friends.

Well, a study has found your teenagers may have acquired more expensive clothes and gadgets than you might at first think, and actually be worth hundreds of pounds.

To start with, the survey suggests your teen's mobile phone is worth an average of £99. Their trousers could average out at £63, and their coat or jacket £68. Add to that their £70 shoes and £45 watch and you've got a hefty price tag without even realising. According to the survey, this could average a total of £495.36.

If your teen is lucky enough to have an MP3 player, hand-held games console or an iPad, their "worth" could sky-rocket to £810! Take a look at these tips on how to handle your teenager's shopping needs.

Clearly the times they are quickly a'changin', as teens are said to be worth £50 more than they were just a year ago. But us parents don't seem to realise - only 5% thought their kids were carrying more pricey items than last year.

The survey, by Allianz Your Cover, showed that despite the recession, parents may actually be handing over more money to their kids. According to the survey,last year the typical teen had £42 in their wallet,but now they have £89.

But the parents who can afford to do this should be careful - 54% of teenagers had lost an item or had it stolen, an increase from 29% last year.

They are most likely to see their mobile phones lost or stolen, followed by their cash and their watch.

Have you found a formula that works when it comes to the amount of spending money you give to your teenagers?
Share your secret with other parents!