The rising monthly income of teens reflects their greater tendency to work; 25% of 16-17 year olds and 30% of the 18-year-olds have a part time job, and 3% of the 18-year-olds even run their own business.
While not all teenagers of working age have a part-time job, many a sharp desire to find. Indeed, more than half (56%) of 16-18 year olds surveyed to supplement their income by finding a part time job in the last six months have tried, almost two times the number that actually have a (30% of 16-17 year olds, 31% of the 18-year-olds).
A lot of credit for this attitude should go to the parents and grandparents who do a good job in teaching children about money; more than four-fifths of parents have discussed how to spend and save money with both 8-13s and 14-18s, such as 20% of the grandparents. Six out of ten parents have also explained what a budget is discussed and financial news and 65 percent of parents their child from the Tween open a savings account have helped.
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* Research conducted by YouGov online under 3131 8-18s, 17th-22 September 2010.
About m & s money:
M & s money (the trade name of Marks & Spencer financial services) was founded in 1985 as the distribution of the financial services of Marks and Spencer Group plc, making 2010 the 25th anniversary of the company.
The company is a top ten credit card (/cards/credit-card/overview/money.marksandspencer.com)-provider and the second-biggest travel money (/travel/travel-money.marksandspencer.com
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