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Questions and Answers
What is the highest spending category for teenagers according to the report by Piper Jaffray?
How much does the average US teen spend per week?
How much more does a teen with a part-time job and allowance spend per year compared to those without a job?
What are the most common saving goals for teenagers?
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Where can teenagers find tips and a budget template for budgeting?
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Study Notes
Teen Spending Insights
- Fashion is the highest spending category for teenagers, highlighting their interest in clothing and accessories over other categories.
- The average US teen spends approximately $72.85 per week, reflecting their discretionary spending habits.
- Teenagers with a part-time job and an allowance spend about $1,000 more per year than those without a job, illustrating the financial benefits of employment.
Saving Goals and Budgeting Resources
- Common saving goals among teenagers include purchasing a car, saving for college, and funding personal interests such as travel and entertainment.
- Teenagers can find budgeting tips and templates on finance-focused websites and apps, which offer structured approaches to managing their money effectively.
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Description
Test your knowledge about teenagers' spending habits with this quiz. Explore the factors that influence how much teenagers spend on discretionary items like clothing, food, entertainment, and personal care. Learn about interesting statistics and facts related to teenagers' budget allocation.
