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If you feel a bit guilty about writing a check instead of taking the time to find the perfect holiday gift for the teens on your shopping list, a recent "Money Matters Holiday Survey" may ease your mind. The survey, conducted by Boys & Girls Clubs of America (BGCA), shows that cash is king when it comes to satisfying teenagers' wish lists at holiday time.
Findings from the survey revealed that 38 percent of teens would prefer to receive cash or a check. Other in-demand holiday gifts included cell phones or portable electronics (15 percent), clothing (12 percent) and a car (9 percent).
The survey further found that 35 percent of teens surveyed said they began saving money for gifts one to three months in advance of the holiday season; 38 percent of teens would put any extra money not spent on holiday gifts in the bank. When asked what they would do if they received $1,000 as a holiday gift, 28 percent of teens said they would save it.
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Some other findings from the survey:
27 percent of teens surveyed plan to spend up to $50 on holiday gifts this year. Nearly 25 percent plan to spend between $51 and $100, and approximately 21 percent intend to spend more than $100.
32 percent of teens got the money they plan to spend on holiday gifts this year from a part-time job.
When it comes to deciding what they would like to receive as a holiday gift, teens are most influenced by: popularity with friends or other kids at school (38 percent), advertisements (35 percent) and magazine articles (27 percent).
The majority of teens surveyed (66 percent) think the news media's attention on celebrities and their money raises teens' hopes of getting large gifts.
"It is encouraging to see that, despite the urge to spend money on gifts this holiday season, our Club members are recognizing the importance of saving for their future," said Roxanne Spillett, president of BGCA. "Through programs like Money Matters, Boys & Girls Clubs are able to help our teen members learn how to save money, develop a budget and spend wisely, enabling them to purchase holiday gifts, but also helping them to prepare for other important expenses, such as their college education."
The Money Matters program, which is available to all Boys & Girls Clubs, helps teens ages 13 to 18 learn practical ways to save, spend and invest the money they earn through fun, interactive activities and exercises on topics like using a checking account, managing debt, saving for college and the basics of investing.
Findings from the survey revealed that 38 percent of teens would prefer to receive cash or a check. Other in-demand holiday gifts included cell phones or portable electronics (15 percent), clothing (12 percent) and a car (9 percent).
The survey further found that 35 percent of teens surveyed said they began saving money for gifts one to three months in advance of the holiday season; 38 percent of teens would put any extra money not spent on holiday gifts in the bank. When asked what they would do if they received $1,000 as a holiday gift, 28 percent of teens said they would save it.
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Some other findings from the survey:
27 percent of teens surveyed plan to spend up to $50 on holiday gifts this year. Nearly 25 percent plan to spend between $51 and $100, and approximately 21 percent intend to spend more than $100.
32 percent of teens got the money they plan to spend on holiday gifts this year from a part-time job.
When it comes to deciding what they would like to receive as a holiday gift, teens are most influenced by: popularity with friends or other kids at school (38 percent), advertisements (35 percent) and magazine articles (27 percent).
The majority of teens surveyed (66 percent) think the news media's attention on celebrities and their money raises teens' hopes of getting large gifts.
"It is encouraging to see that, despite the urge to spend money on gifts this holiday season, our Club members are recognizing the importance of saving for their future," said Roxanne Spillett, president of BGCA. "Through programs like Money Matters, Boys & Girls Clubs are able to help our teen members learn how to save money, develop a budget and spend wisely, enabling them to purchase holiday gifts, but also helping them to prepare for other important expenses, such as their college education."
The Money Matters program, which is available to all Boys & Girls Clubs, helps teens ages 13 to 18 learn practical ways to save, spend and invest the money they earn through fun, interactive activities and exercises on topics like using a checking account, managing debt, saving for college and the basics of investing.