BURLINGTON, Vt. (WCAX) It's tax season and another new year of added workers to the workforce stretching their financial muscles as far as they can. This includes part-time workers like teenagers and young adults in their first jobs.
According to TD Ameritrade, the average teenager spends $2,600 per year, with several reports saying they spend the majority of it on clothes and fashion.
Only about half the teens in the TD report have started saving money.
But of those who are saving, two out of three put away more than $20 a month.
Justin Sawyer is a member service representative for the Vermont Federal Credit Union. He spoke with our Galen Ettlin about youth financial responsibility. Watch the video for the full interview.