A recent survey in the UK revealed that teenagers have a good understanding of money matters. In general, they have a positive attitude towards earing money and good savings habits.
According to the survey, British teenagers have an average income of about 85 pount a month. They receive this money from parents, household chores. Other sources of income include pocket money from grandparents, presents for birthdays and Christmas, and some part-time jobs like washing the family car, babysitting etc
When asked what they did with their money, teenagers admitted that they spent most on clothes . Together with going out, this accounte of the money they spent
Surprisingly, teenages also spend a large amount of their pocked money. The rest is divided between mobile phone cost, online subscription and downloads.
Although teenagers spend a large porcentage of their pocket money, they also think it's important to save. 62% of the teenager said that they saved every month; some were saving up to buy something spcial while others put their money into the bank to earn interested. About three-quarters said they had a bank account and only 10% said that they had borrowed money or were in debt to their parents.
When asked about the future, the majority thought that they would manage their money well.