How Teens Spend Their Money These Days

Just a few decades ago, the typical American family spent about 50% of its income on food and clothes. Today Americans spend only about a fifth of their income on clothing and food according to The Atlantic. But one group of Americans still spends about half its cash on eating and clothes: teenagers.

Information found on The Atlantic shows that teens spend two percent of their money on books, two percent on furniture, 21 percent on clothing, 18 percent on food,10 percent on accessories, nine percent on shoes, eight percent on a car, eight percent on electronics, seven percent on music and movies, six percent on video games, six percent on concerts and events, and three percent on other.

Teens spend 14 times more of their money on food; eight times more on books and clothes; and twice as much on the entertainment category, which includes electronics, movie tickets, concerts, and video games. Cassidy Rothwell, a south campus student at Arrowhead says, “I can’t help it, I’m at a point in my life where I don’t need to worry about paying bills, so why not spend my money how I want to.”

Harry Smith, a Sophomore from Arrowhead said, “We as teens are at a point in our lives where image and how we perceive ourself is more important than at any other time.” They want to have fun and they want to look good.

Most teens also know that soon they will be in college or working full time and have more responsibilities and bills. Most teens realize that now’s the time to spend on fun stuff, knowing they’ll soon be buckling down and paying the bills their parents now pay.