how teens manage to maintain their purchasing power
In a strong inflationary context, the French are faced with a reduction in their purchasing power. Of these difficulties which do not escape adolescents, according to a study by Karda pocket money management app for teens and their parents.
According to this survey of 900 teenagers aged 10 to 18 throughout France, many parents have recently been asked for an increase in pocket money.
Boys more affected by inflation than girls
According to Kard’s study, boys are more aware of price increases (71% of boys compared to 61% of girls). And despite their gender, teens get a better grasp of exactly what inflation is as they get older (at age 18 nearly 95% of them know it’s against 45% at 11 years).
1 in 2 teens have seen a drop in income
If the definition of inflation is still unclear for some, nearly 1 in 2 teenagers have seen a drop in their income, with an overwhelming majority of respondents having noticed the increase in prices (93%). And it is on daily expenses that they have noted the greatest increases: 29% say they observe it on food products and 19% for drinks. For the oldest among them (16-18 years old), the prices of petrol, electricity and gas have also experienced a « boom », proof that their awareness of inflation exceeds their own expenses: they are also fully aware of the price increases facing their parents.
40% of teens asked their parents to index their pocket money to inflation
Noticing the price increase, 40% of teenagers did not hesitate to ask their parents to index their pocket money to inflation, and it is even the youngest who negotiate money increases. pocket: 41% of boys against 38% of girls and 65% of 10-14 year olds against 50% of 15-18 year olds. The older they get, the more teens understand what inflation is and want to be more reasonable about their financial demands.
Resourceful teens to maintain their purchasing power
31% of teenagers have a source of income other than pocket money. Very resourceful, they multiply the sources of income to better meet their daily needs. Excluding the resale of clothes and objects on Vinted (40.7% for girls and 38.4% for boys), « odd jobs » remain the favorite source of income for teenagers (20% for 15- 18 years old against 15% for 10-14 year olds). Services provided to neighbors and babysitting are also always present, especially among girls at 26%.