Summer; Save or Spend!

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Summer jobs are a great opportunity for teens to learn about the workplace as well as earn money. High school seniors spend most of their earnings on clothes, music, movies, eating out and personal expenses. Spending on cars and their expenses comes in second, especially for males. But what about high school freshman?

Parents of kids ages 13-17 reported that 36% of teens will earn their primary income from summer jobs. The three most popular items  teens are saving for a college tuition, a car, or a smart phone or smart device. At Patterson Mill students have saving methods for similar items.

Freshman Julia Frankis recently got a job doing concessions at the Bel Air Athletic Club, and she is saving for such a car, insurance, and gas. She stated on the topic of whether she wanted to spend it as she got the money or save and spend over time. She stated ” I plan to save some and spend some when needed.”

Other freshman are saving for something special like Erin  Lovelace. Erin  works at Burger King. She stated “Right now I’m saving for a vacation because school is stressful and I’m so ready for school to be over.”

She said what she planned to do with the other money that’s not going toward vacation. ” Usually I take 10% of my check and put it in my saving but I’m going to save the rest of my money and wait till I have a reason to spend it.” She stated.

Almost all high school kids have been focusing on saving for future education, car payments, and personal expenses. How about all you do you plan on saving for anything special this summer?

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Summer; Save or Spend!