Where Do Teenagers Spend Their Money?

 

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Often times, as teenagers, we find ourselves broke. Why? People tend to spend money on things we think we need. Some teenagers work for their own money, many just ask their parents for money. When asking a vast range of high school students what they spend the majority of their money on, almost everyone said “food.”

According to a study by Piper Jeffery, teens from average economic backgrounds get sixty two percent of their spending money from their parents, with teens from wealthier parents relying on their parents to foot sixty nine percent of the bill.  Seven percent of teens spend their money on video games, eight percent spend their money on electronics, eight percent spend their money on their car, eight percent spend their money on shoes, ten percent spend their money on accessories/personal care, twenty one percent spend their money on clothing, and twenty one percent spend their money on food.

When asking teenagers which fast food restaurant was their favorite, Chick-Fil-A and Cookout were overwhelmingly the most enjoyed. Cookout has become a hangout spot for many East and Glenn students. Often times, its central location is used as a meet up spot. On average, teens go to fast food restaurants four times a week. An average meal costs five dollars, making the weekly food cost twenty dollars, and the monthly food cost eighty dollars. That adds up to nine-hundred sixty dollars annually.

According to the National Resources Defense Council, Americans waste one hundred sixty five billion annually by tossing away unwanted snacks and meals. The math works out to approximately five hundred twenty nine dollars per person each year. Instead of going through the fast food lines, eating at home would be the more economic and resourceful thing to do. Though soda and fries are delicious snacks, they do lower your quality of health and increase your consumption of non-beneficial food. An annual one hundred seventeen billion is spent on fast food by Americans. Nearly half of Americans drink soda daily, which could lead to financial and health issues.

According to a recent survey of American workers by Accounting Principals, Americans who regularly buy coffee throughout the week spend an average of one thousand ninety-two dollars on coffee annually. Those daily Starbucks trips could add up drastically. There are many of different ways an individual could “save” or budget. Sitting down and actually looking on how much money you personally spend is the first step to becoming more frugal.

 



Categories: Clubs & School Happenings, FEATURES

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