It’s increasingly recognized that teenagers and their money are forces to be reckoned with. You, as a collective group of teenagers, wield tremendous buying power, making you very attractive to all kinds of retailers and advertisers. Statistics from the U.S. Department of Labor show that the average teenager spends almost $5,000 a year. That’s more than double from just five years ago.
While you’re spending more money, you’re also becoming smarter about your finances. You’re not only stashing money away in savings accounts, you’re investing in CDs (certificates of deposit), mutual funds, and the stock market. You’re not only buying from other people’s businesses, you’re starting and running your own businesses.
Teenagers are innovative, ...