Teens Are Big Spenders

Teen spending will grow 3.5% annually to $91.1 billion in 2011, from $79.7 billion in 2006. Family spending on teens during the same period will grow 7% to $117.6 billion in 2011, from $110 billion in 2006 according to Packaged Facts’ “The Teens Market in the US” report.

Lynne’s comment: “Teens have plenty of money to spend and because they don’t have bills, debt and mortgages, they can walk into the mall with a carefree attitude about spending. But is this a good way for them to prepare for adulthood, just around the corner? What is this teaching them about money management?”

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