Seventeen Survey: Teens Spending And The Recession

For all the recent media coverage on how teens are scrimping and saving to get by these days, the folks over at Seventeen magazine decided to commission a survey on Teen Spending and the Recession to find out just how much impact the economy actually has. Today we bring you some interesting highlights from their findings…

- Despite the recession, 75% of teens are receiving the same or more spending money this year than they were last year.

- While 2 in 5 have "not been affected" by the recession," 28% say they are "receiving less spending money" and 35% say they have been "affected in another way" than the options listed.

- About half of teens are working to earn an extra income, although 21% qualify themselves as "unemployed" vs. "choosing not to work."

- Teens choose the tangibles: 75% would choose a new pair of shoes over 50 new MP3 downloads, and 63% would choose a new pair of jeans over tickets to a concert.

- Teens want to look good no matter what: nearly three-quarters are spending the same or more this year on either cosmetics (70%), clothing (72%), hair products (71%) or skin care (74%).

- Not shopping less, shopping smarter. 55% teens say they are waiting for items to go on sale, 50% are making fewer "impulse purchases" and 42% are more likely to "comparison shop for the best price." Only 22% said that the economy has "little to no affect" on their shopping behaviors.

- Saving is nothing new. While 40% teens report that they were already saving, 24% say they are now saving more. 21% are not saving.

- Teens are saving up for the three Cs: clothes (57%), college (54%) and a car (38%).

Categorized under: Fashion, Magazines

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