Teens Spend Over $200 a Month — How Much Is Your Allowance?

Teens today aren't just dreaming about new sneakers, video games, or their favorite beauty products — they're buying them! According to the Fall 2024 Piper Sandler Taking Stock With Teens survey, teens spend an average of $2,361 annually on things like clothing, beauty products, and entertainment. That's a serious budget! But here's the big question — where's all that money coming from?

For many teens, earning their own money isn't easy. Unlike adults, they can't just pick up a full-time or part-time job. Many are too young for traditional work, and the process of finding small, one-off jobs in their community takes a lot of time and often requires their parents' involvement to manage and coordinate. That's where StudentGigs comes in — it makes the process of finding local tasks quick, easy, and safe.

Teen Spending Highlights

The Taking Stock With Teens survey included over 13,500 teens from across the U.S., with an average age of 15.8 years old. The results highlighted some interesting trends:

• Top Clothing Brands: Nike leads at 33%, followed by American Eagle and lululemon at 5% each.
• Top Footwear Brands: Nike dominates with 57%, Adidas (9%) and Converse (7%) trailing.
• Top Cosmetics Brands: e.l.f. reigns at 35%, Rare Beauty at 10%, Maybelline at 7%.
• Top Skincare Brands: CeraVe leads with 33%, The Ordinary (10%), La Roche-Posay (8%).
• Top Chain Restaurants: Chick-fil-A at 17%, McDonald's and Chipotle tied at 11%.

These stats show that teens have clear preferences and are making their own purchasing decisions, but earning money to fuel these purchases remains a challenge.

So, What Can You Do?

If you're a teen: Looking for ways to earn money? StudentGigs is here to help! From babysitting and tutoring to running errands, StudentGigs makes it easy to find local tasks in your community that match your skills and availability. Start building your financial independence while learning valuable life skills.

If you're an adult: Think about all the little jobs you've been meaning to get done — whether it's help with yard work, organizing a closet, or washing the car. By posting these tasks on StudentGigs, you're not just getting help — you're empowering teens in your community to learn responsibility and earn their own money.