The characteristics of student spending generally include greater money

spent on food, entertainment, electronic devices, and personal care

products. Teenage spending often involves cash spent on clothing, music,
movies, and video games. While many college students spend money on
these same items, their expenses are often larger for this category of
students.

Teenagers usually have access to food at home, so the bulk of their

spending tends to revolve around entertainment and clothing. The teenage
years present social pressures related to fitting in with peers and
preserving a specific image. Wearing the right brand-name clothing and
shoes as well as keeping up with the latest fashion trends is a large part of
creating and preserving this image. Teenage spending also often includes
purchases of video games and music. These items are common
components of social activities and interaction among teenagers.

Student spending among college students is slightly different. Clothing and

entertainment are large expenses for this group. Food, however, is one of
the largest expenses for college students. Even in situations where meals
are provided in dorms, many college students spend money on snacks,
alcohol, and other drinks. Meeting with friends in coffee shops, bars, and
restaurants on a regular basis tends to increase food and beverage
spending for college students.

College student spending patterns also include purchases of technological

equipment and electronic gadgets. These items are sometimes needed for
completing college coursework. A college student might buy a computer
and a printer, for example, to write papers for his classes. Other popular
items among college students, such as expensive cell phones and e-book
readers, may be more of a luxury than a need.

Student spending among college students typically also includes monthly

charges for services. Paying for an Internet connection is one example. A
cell phone service with text messaging and Internet access is a common
expense for college students. Some college students also pay for cable
television and online subscriptions for movies.

Advice for responsible student spending typically includes creating and

adhering to a monthly budget and focusing on saving money, which are not
common practices among students. Teenagers usually spend money given
to them by parents or income earned through part-time jobs. College
students sometimes work in addition to attending classes, but they may
also have access to student loans and grants. The absence
of budgeting practices among college students often leads to credit
card usage for expenses such as food and clothing. Advice for responsible
student spending typically includes creating and adhering to a
monthly budget and focusing on saving money, which are not common
practices among students. Teenagers usually spend money given to them
by parents or income earned through part-time jobs. College students
sometimes work in addition to attending classes, but they may also have
access to student loans and grants. The absence of budgeting practices
among college students often leads to credit card usage for expenses
such as food and clothing.