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Why teens spend too much money on clothes and shoes

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perle redmond

on 19 May 2014

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Transcript of Why teens spend too much money on clothes and shoes

I will explain what teens here at Renfroe middle school spend the most money. Here at Renfroe I think most people spend the most money on shoes and clothes. I passed around a survey and clothes and shoes tied for the most. Someone said they spent $500 on shoes.
I think people spend so much money on shoes and clothes to fit in. most people wear Nike, Adidas, Hollister, and Abercrombie & Fitch etc. I a lot of people wear this and buy this because they advertise it like you need to have it and it’s the best. When they advertise it like this they raise the price but people still buy it because it is the” Best”.

The advertisers advertise these brands like everyone needs them.
When people buy them then other people buy them so they can fit in.
Because they advertised it that way many people bought it so people want to fit in.
I think that when they advertise it like this then no matter the price they think they need it to be cool.
Why do teens spend money on name brands?
"Teenagers are receiving allowance/money from parents regularly, enabling them to have constant buying power," the report states.
Average weekly spending ranged from $56 for 12 and 13-year-olds to $192 for 18 and 19-year-olds.
One in four aged 16-plus combined study with a part-time job.
Boys with a love of expensive techno toys and video games had a bigger budget than girls, outlaying an average $54 a week more.
While cash is king with the young, some said credit was a common way to pay.
The researchers said this was likely to be through the credit button on debit cards, or purchases linked to parents' credit accounts.
1) http://parents.berkeley.edu/advice/teens/clothingbudget.html
2) http://www.theatlantic.com/business/archive/2013/04/how-teenagers-spend-money/274949/
3) http://theeverygirl.com/coffee-talk-how-much-is-too-much-to-spend-on-clothes
4) http://www.heraldsun.com.au/news/teenagers-are-spending-an-average-of-5000-a-year-of-their-parents-hard-earned-money-survey-reveals/story-e6frf7jo-1226504525546
5) http://corporette.com/2009/11/10/reader-mail-how-much-do-you-spend-on-clothes/
6) http://www.statisticbrain.com/teenage-consumer-spending-statistics/
7) http://money.msn.com/saving-money-tips/post--11-reasons-to-give-your-teen-a-clothing- allowance?ref=bfv
8) http://www.fdic.gov/consumers/consumer/news/cnsum06/sum_06_color.pdf
9) http://www.teensguidetomoney.com/
10) http://www.saveandinvest.org/financialbasics/teens/

Why teens spend too much money on clothes and shoes
By: Perle Redmond
Today, thanks to massive gains in productivity in agriculture and manufacturing, adults spend hardly a fifth of our budget clothing and feeding themselves. But the one group of Americans that still insists on spending about half its hard-earned cash on eating and buying nice clothes. It's us teenagers.
What Teenagers Spend the most on
Does Gender Affect Spending?
There are some significant differences in spending habits between the genders. Twice as many teen females bought clothes the last time they made a purchase than teen males. Three times as many male teens bought video games than their female counterparts. More teen females tend to consume food and beverages, including candy, soda, snacks, lunch, and ice cream. And twice as many teen males plan to buy a car or car parts as teen females. Teens shop in shopping malls/centers, discount stores, convenience stores, apparel stores, grocery stores, drugstores, electronics stores, and department stores.
The reason is'nt only the advertisement, add the Internet, and peer pressure, and we end up with a lot of young people who have difficulty distinguishing between needs and desires. Of course, they have the ability to understand money matters, but they still need guidelines.
In my presentation I will answer specific questions such as; what teens spend money on? Why teens spend so much money on this? Wear they shop? What brands are most popular? Why do teens spend so much on a certain brand? I have also brainstormed specific topics such as; wanting to buy name brand clothes, name brand shoes, wanting a variety of clothes.

Advertisers take an almost scientific approach to studying human behavior. Marketing agencies know how to reach their target audiences and they spend large amounts of money to create new markets or expand existing ones. They emphasize image, fun, popularity and a way to be better. Whether it’s on billboards, television, posters or magazines, advertising is omnipresent in the lives of teenagers.
Purchasing Power
For young teenagers, though, earning money means acquiring purchasing power. Now they can buy the things that used to require their parents’ permission. It’s one more step towards independence. It’s important for parents to remember that teenagers are still learning how to spend money. Help them focus on the rationale behind the purchases or demands they make. Point out how advertisements and marketing campaigns play an important role in decisions about spending.
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