The biggest mistake teenagers make with money is that they spend it. They spend their money on the first things that they want. Its always burning a hole in their pocket, no matter what it is. They dont put it into savings, or even spend on the things they really need. If they need new things, than they can purchase them with the money that theyve earned.
This causes the parents to have to pay for the things that they really need, while the teenagers pay for the things they want. Teenagers always think that they need the next new thing. They always need to be on top of the fashion, or at least thats what they think. Teenagers spend their money without thinking through what they should spend it on.
What I think that mistake teens make with money is, is that we spend spend spend when ever we get enough money to buy something. Most of the time we get it just to have it and never wear it.
We spend it on things that we dont even need most of the time instead of spending it on things that we really need. If I were doing that I dont know what I would do for college. I would prefer to just save it so I have a chance of buying my books and going to college, not buying everything in sight that I want.
The biggest mistake I think teenagers make with money is that most like cheap jordan 10 to spend their money once they get it. Yes, there may be some teenagers who actually think about it and will save their money, but a lot of them think about what they can buy with the money they have now instead.