Youngsters are raking in as much as £50 a month form the bank of mum and dad - but they say it should be double.

On average children get around £28 per month pocket money - with some claiming as much as £50 which works out at a whopping £12.50 per week.

New research shows that despite the generous handouts some children think they are being shortchanged by their parents and deserve at least double the going rate.

£28 a month is average pocket money for children in the UK

According to a poll done by Money.co.uk kids say they are being woefully underpaid for basic household chores like washing up and putting away the groceries and they think they should command at least a 100 percent rise in pocket money.

Parents in the UK are currently paying their children an average of £6.48 pocket money per week, the survey shows.

Are you paying your children enough pocket money?

And around 42 percent of parents said they believe they pay their kids the average amount of pocket money. 

But the kids are not alright! In fact, the little Oliver Twists are demanding more with 31 percent of them, aged six to 16 believing they are paid less than the average amount of pocket money by their parents.

Doing the washing up ranked in 1st place as the household task that children do the most, although it is one of the lowest paying chores with an average pocket money payment of £1.12.

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Kids believe they should be paid more than double (£2.39) for washing up the dishes and are demanding more than a 100% increase for putting away the groceries (up to £2.07) with many claiming they are short-changed by parents who, on average, pay less than a pound (90p) for that task.

Washing the car proves to be the most lucrative chore for cash-happy kids, paying an average of £2.51 per car wash, although this still falls short of what kids expect to be paid to get the car gleaming. The survey revealed kids expect a whopping £4.12 - almost as much as the average cost of £6 to have your car professionally hand-washed in the UK.

Unloading the dishwasher, cleaning the hamster’s cage and being well behaved were also listed by parents as among the most common tasks they get the kids to do for pocket money.

Experts at  money.co.uk  have created this handy Pocket Money Savings Tool - which shows parents if they are underpaying or overpaying in pocket money compared to the national average. 

The tool also allows parents and their children to choose which household chores they want to do and how much they should be paid per chore – giving both parents and their children a great indicator of potential earnings per week, per month or per year.