Most teens save their money, and by putting a little away each month that can grow into big savings over time.
Most teens save their money, and by putting a little away each month that can grow into big savings over time.
Saving $25 a month | Saving $50 a month | |
---|---|---|
1 year | $300 | $600 |
5 years | $1,500 | $3,000 |
10 years | $3,000 | $6,000 |
Note: Numbers do not account for inflation or any account interest.
In 2020, the average teen spent $2,150 across a range of categories like food, clothing and entertainment.
Help your teen understand the risks and responsibilities that come with using credit cards and avoid stacking up debt in the future.
Sources: Creditcards.com, Experian
Focusing on the future can help teens start saving their own money and teach them to better accomplish the goals they set for themselves.
Source: Junior Achievement Teens and Personal Finance Survey, 2019
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