How teens spend their money?

How teens spend their money?

Teen money spending habits

Most teens like to spend their money on things such as:

• Food
• Clothing
• Accessories
• Electronics
• Video Games

Food

There was a study which stated that teens spend 24 % of their cash on food and 28 % on clothes. The study also found that teens don’t like dining out at full service restaurants, but fast-casual eateries and cafes where they can linger for extended periods of time to socialize with friends. The top three favorites include Chick-fil-A at No. 1, followed by Starbucks and Chipotle.

Mobile phones

More than two-thirds of teenagers expect their next mobile phone to be an iPhone because as middle school teens start going to high school, they think that it will provide them a high social status and they won’t get bullied. The factors which conclude what phones teens like to buy is how popular it is and how expensive it is.

Smart Savers

Today's teens are money savvy and don't generally blow all their money on goods and experiences. About 50 percent of teens in a science conducted survey say they've started saving money and around 40 percent have a goal for their money. While about one-third of teens are saving up for clothes, technology devices, and cars almost half of them are putting money away for their education.

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