FINANCIAL COUNSELING AND PLANNING, Vol. 7, 1996
Posted: 11 Dec 1996
This study investigated how much money was obtained and how it was spent by teenagers. It also examined the effects of individual and family characteristics on teens' discretionary spending and saving. Teens' income and age, separately, had negative effects on food expenditures and positive effects on both clothing and entertainment expenditures. Family income had a positive effect on teens' clothing and entertainment expenditures. Having an allowance negatively affected teens' food and clothing expenditures. Compared to female teens, males saved less and spent less on clothing and personal care items.
JEL Classification: D12
Suggested Citation: Suggested Citation
Alhabeeb, M. J., Teenagers' Money, Discretionary Spending and Saving. FINANCIAL COUNSELING AND PLANNING, Vol. 7, 1996. Available at SSRN: https://ssrn.com/abstract=3590