Luminor: Estonian children spending most on food, drinks, transport

TALLINN - Estonian children primarily spend their pocket money on food, drinks, and transport, according to Kaspar Kork, head of personal banking at Luminor Estonia.

While children's spending habits remain relatively consistent throughout the year, summer shows noticeable differences. Luminor's data analysis reveals that during summer, children spend their money mainly on various consumables at major retail chains like Rimi and Selver. Transactions also increase at gas stations and fast-food restaurants, where youngsters buy food and drinks for long days out.

With more time spent outside during summer, transport expenses also rise significantly. Luminor's data indicates that Bolt app expenses top the list, likely due to the use of rented scooters. Last summer, young people spent an average of 2.6 euros per Bolt ride.

"During summer vacation, children mostly relax and socialize with friends, leading to most pocket money being spent on sweets, snacks, and transport," Kork said.

He noted that school cafeteria purchases decrease in summer, allowing children to save pocket money for other desired or necessary items. Savings are often spent on shopping and entertainment platforms like H&M, Apple, and Shein, with an average purchase of 10 euros.

Debit card transactions increase in summer, likely due to more time spent outdoors and away from home. Luminor's data shows that the first bank card is typically ordered for children around 11-12 years old, but some parents order it for first or second graders. Parents usually choose a debit card as the first card for their child since credit card services are not typically needed by children.