More than half of parents (55%) give their teens an allowance, according to American Express. Teens, on average, receive $66 per month from their parents taking into account their allowance, money for food and clothes, and extra spending cash.
Almost half of teens (49%) say that having to ask their parents for money is a “hassle,” according to American Express. Parents also are uneasy discussing money matters with their teens. One in three (36%) feel talking to their teens about an allowance is comparable to or more difficult than “the stressful experience of negotiating the purchase of a car.” [Consumer Spending & Behavior]
Source: American Express, Vanessa Capobianco, 200 Vesey St., New York, NY 10285; 212-640-5445; vanessa.k.capobianco@aexp.com; www.americanexpress.com.
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