Ilyce Glink's Blog

Welcome to Ilyce Glink's blog! Here you'll find Ilyce's latest insights on personal finance advice, real estate advice and consumer issues. Come back often for timely and interesting posts on a wide variety of topics.

Wednesday, June 11, 2008

Gas Surpasses Clothes in Teen Credit Card Expenses

Apparently getting somewhere is becoming more important than looking cool.

Teens spend more money on gas than they do on clothes when they use their credit cards, according to a poll from Junior Achievement and the Allstate Foundation.

Nearly 70 percent of teens use credit cards to buy gas, up from 52 percent in 2007 and 46 percent in 2006.

The percentage of teens whose parents pay the credit card bills has also increased. Thirteen percent of teens' parents now pay those bills, up from 11 percent last year.

Pollsters talked to 712 teens in February and March 2008 for this survey.

Labels: Cars, credit cards, financial education, Gas