Playground debt: A fifth of secondary school children owe family and mates an average of £19 - but they're better at saving than mum and dad were

By Adam Uren for MailOnline

Updated: 06:50 EDT, 18 April 2014

Schoolchildren desperate for the latest pogs, Beano comics, Pokemon cards, or just a packet of Spangles are becoming young borrowers as they turn to their friends for a few spare quid.

This 'playground debt' averages at about £19 per 11 to 16-year-old, while a minority owe in excess of £50. Many of those borrowing from friends said that owing people money is 'normal'.

On the whole Santander found that today's youth are much savvier savers than previous generations, with the majority saving their pocket money, but those who do borrow money show signs of becoming comfortable with debt.

Spot me a tenner: High school kids are savvy savers, but some are also early borrowers.

Santander estimates that almost a fifth of the nation's 11 to 16-year-olds owe money to their family and friends to the tune of £15million.

Reza Altar-Zadeh, of Santander, said: 'Learning about money is one of life’s most important lessons. So while we are pleased to see that nine out of 10 children save money, one in five have also borrowed.

'Whilst we don’t want to foster a culture of debt, it is important that young people grow up with a good understanding of how money works.'

The survey found that 94 per cent of today's 11 to 16-year-olds are setting aside money for the future, with a quarter of them saying they are saving for college and university.

A small number meanwhile are planning way into the future, with eight per cent saying their savings will go towards a deposit on a house.

The average amount being put away by schoolkid savers stands at an impressive £336-a-year.

This would represent saving of £6.46 each week, taking up the vast bulk of their pocket money.

A study by Halifax last year found that the average amount children across the UK get in weekly pocket money stands at £6.50.

Kids living in London get the most, averaging at £7.60-a-week, while those in the South West get the least at £5.29.