Recent research from Pixpay reveals that the average monthly pocket money for teenagers is 29 euros, with notable variations by age. Spending habits show an increase, with average monthly expenditures reaching 98.7 euros. Teenagers primarily shop for food, clothing, and technology, with popular brands including McDonald’s and Apple. Regional and gender differences in spending patterns are evident, and there’s a call for improved financial literacy and parental guidance in budgeting practices among teens.
Insights on Teenagers’ Pocket Money and Spending Habits
According to the latest research from Pixpay, the average monthly pocket money provided by parents to their children stands at 29 euros, with amounts varying based on age. For instance, parents typically give 24 euros to children aged 10-12, 26 euros to those aged 12-14, 32 euros for 14-16 year-olds, and up to 40 euros for teenagers aged 16-18. Notably, a recent study revealed a slight decrease in these figures, with an average reduction of 2 euros per month compared to the previous year. The question remains: how do teenagers utilize their finances? Pixpay aims to shed light on this in its fifth edition of the study focusing on teenagers’ consumption habits, as reported by RMC this week.
Understanding Teen Spending Patterns
Pixpay, recognized as the leading payment card among teenagers in France, boasts a user base of 300,000. To gain insights into teenagers’ budgeting and spending behaviors, the methodology involved analyzing 16.4 million transactions conducted by individuals aged 10 to 18 throughout 2024. This data was further enriched with insights from polling institutes like Bilendi and poll&roll.
The findings indicate a noticeable increase in teenage spending, with the average transaction amount rising to 14.1 euros (a 2% increase year-over-year) and the monthly expenditure reaching 98.7 euros (also a 2% increase). However, it is essential to factor in the impact of inflation. Interestingly, the frequency of monthly spending remains steady, with teenagers making purchases approximately seven times a month. A significant portion of these transactions, around 45%, is conducted via smartphones rather than cards, a notable rise from the estimated 30% recorded in January 2023. As Caroline Ménager, Pixpay’s co-founder, points out, “Teenagers always have their phones on hand, making it incredibly convenient for them to make purchases.”
Furthermore, Pixpay has compiled a list of the brands where teenagers are spending their money, revealing that their purchases predominantly fall within the categories of food, clothing, and technology. For food-related spending, supermarkets and fast-food chains are the most popular choices. For example, McDonald’s ranks second in popularity, with an average monthly spend of 10.4 euros, following Apple (4.7 euros). Other notable mentions include Leclerc (17.1 euros), Carrefour City (4.9 euros), and Monoprix (6.1 euros).
RMC’s analysis also highlights geographical and gender disparities in spending habits. Teenagers in Corsica, Provence-Alpes-Côte-D’azur, and Île-de-France tend to spend considerably more, averaging 119.5 euros per month in Corsica. In contrast, regions like Normandy and Centre-Val de Loire have lower averages. For girls, brands like Shein and Vinted appear prominently, while boys show a stronger inclination towards technology, with PlayStation ranking high in their preferences.
Ultimately, these findings underscore the importance of major brand recognition among teenagers. Pixpay’s co-founder emphasizes that although teenagers often have limited budgets, they prioritize affordability alongside ethical considerations, exemplified by their interest in brands like Vinted. Additionally, there is an ongoing need for parental guidance in teaching responsible budgeting and consumption habits. While a significant majority of adults acknowledge their role in this education, many do not engage their teens in comparing prices or understanding promotional influences, highlighting an area for improvement in financial literacy among young consumers.