how much money do teenage consumers place in savings each year?

Answer 1

That's hard to say because what the offical report labels as savings. If you have money in your 401K, it's not officially labled as savings. Many investment schemes are not listed as savings. I think the only things labled as savings are cash, the bank and government bonds. I think working $6 an hour starting at 16 for an average of 2 hours a day 5 times a week, by the time they are 18 probably have $2,000-$4,000 in some offical savings. I would say the majority are in debt at 19 or 20 though because they bought themselves a new car and are paying off payments no to mention any school fees.