Teenagers and Money

Thirteen-year-olds do not spend as much money as their parents suspect — at least not according to the findings of a recent survey. Money and Change. The survey included three hundred teenagers, 13—17 years old.

By the time they reach their teens, most children see their weekly allowance rise dramatically to an amazing national average of $8. Two thirds think they get enough money, but most expect to have to do something to get it.

Although they have more cash, worry about debt is increasing among teenagers. Therefore, the majority of children make an effort to save for the future.

Greater access to cash among teenagers does not, however, mean that they are more irresponsible for a result. The economic recession seems to have encouraged cautious attitudes to money, even in case of children at these ages. Instead of wasting the pocket money they have on sweets or magazines, the 13-year-olds who took part in the survey seem to respond to the situation by saving more than half of their cash.

Cash card, schemes are available for anyone over the age of 13. So if your youngster's moved on from pocket money to a monthly allowance or if he now earns a wage, then he should think about opening his own account.

So our children are also far more eager to control their own affairs, according to a recent survey by the Britannia Building Society. In fact most teenagers would rather have a monthly allowance than the traditional weekly sum of pocket money They want money in an account that they can control and budget with as they please.

But children are only allowed a cheque book when they reach the age of 16. Until then cash cards, which in general are available on savings accounts for those over 13, seem to be a sensible option and are now being offered by most banks and buildings societies.

Opening a card cash account gives teenagers many advantages. They learn to control their own finances and not spend more than they have, which means they have to budget carefully. They'll also have easy access to their money in a case of an emergency. In some cases they can buy cigarettes or even drugs.

To many teens smoking is not just a kind of pleasure, it is an addiction. They need it, depend on it, can't stop it. If they haven't smoked for some hours, they feel a craving for a cigarette. They often chain smoke, which means they light another cigarette immediately they have put out the other one before. Smoking is often considered antisocial, since many people don't like the smell of cigarettes or the sight of the smoker's stained fingers or ashtrays full of cigarette ends. Above all, smoking is harmful to health and in many countries a warning is printed on every packet of cigarettes. Scientists have proved that there is a link between smoking and a disease, which can be fatal, causing cancer and different diseases of future teenagers' babies.

1. What did the survey show? 2. What do teens do with their money? 3. Do your parents give you pocket money? 4. How much money do your parents give you weekly? 5. What do you do with it? 6. Do you spend much money or try to save it? 7. Do you have your own account? 8. Do you think that it's necessary for teens to have pocket money? Why?