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In today’s world, teenagers are becoming more financially independent than ever before. Whether it’s through part-time jobs, allowances, or other means, teens are managing their own money—and they’re doing it with increasing sophistication. Understanding teen spending habits can help parents, guardians, and educators guide them toward better money management. Greenlight’s 2024 Year in Review provides valuable insight into teen finance trends, offering a detailed look at how young people are spending, saving, and investing their money.
Spending Breakdown: Where Are Teens Spending Their Money?
According to Greenlight’s 2024 Year in Review, teens spent an impressive $2 billion in total last year, with some key categories standing out. Amazon topped the list of teen spending with over $70 million spent on the site in 2024. This reflects a growing trend among teens who appreciate the convenience of online shopping and the wide variety of products available at their fingertips.
Food delivery services have also gained popularity among younger consumers. DoorDash emerged as the top food merchant, showcasing how technology and convenience have shaped young people's dining habits. Other popular spending destinations included well-known retail stores and eateries like Target, Walmart, McDonald’s, Starbucks, Chick-fil-A, and Chipotle.
Beauty retail also saw a surge in teen spending, with Sephora receiving a notable share of the market. Teens spent an average of $38 per visit at the beauty giant in 2024. Meanwhile, fashion brands like Shein, American Eagle, Pacsun, Nike, and Hollister were among the top retailers, with teens frequently shopping for the latest trends. This indicates that style continues to be an essential part of teenage life.
Teens aren’t just spending money on tangible goods; experiences remain a significant priority. Greenlight’s data shows that spending at amusement parks, cinemas, and concerts was on the rise, with Ticketmaster alone earning nearly $1 million from teen customers. Events like Taylor Swift concerts played a big role in driving this trend, proving that experiences will continue to top teens’ bucket lists in 2025.
The Rise of Gaming and Technology
The gaming industry also played a key role in teen spending. Apple, Playstation, and Microsoft saw substantial revenue from young users, followed by platforms like Xbox, Roblox, EA Games, and Steam Games. This highlights the growing influence of gaming as both a hobby and a significant expenditure for teens.
Saving and Investing: Looking to the Future
Despite their spending habits, teens are increasingly aware of the importance of saving and planning for the future. In 2024, Greenlight’s data showed that teens saved a total of $259 million, with a focus on goals like buying a car, attending college, or saving for vacations. Investments also more than doubled, indicating that financial literacy among teens is on the rise.
Teens are earning more too. Greenlight tracked 66 million tasks completed by teens in 2024, from chores to part-time jobs, with the average allowance being $13.42. This shows that teens are not only becoming better at managing their money but are also more inclined to earn it through a variety of means.
Giving Back: Teens and Charitable Donations
One of the most heartwarming findings from Greenlight’s report is that teens directed $8 million toward charitable donations in 2024. This suggests that many young people are increasingly focused on giving back and using their resources to make a positive impact in their communities.
Now that we are in 2025, the trends observed in 2024 are likely to continue. With a growing emphasis on convenience, technology, and experiences, teens will remain a key driver of the economy. It’s also clear that while spending is important, saving, investing, and giving are becoming more significant parts of their financial behavior. Parents and educators can use this data to encourage positive financial habits and guide teens in making smart, informed decisions about their money.
By tracking these habits, we can ensure that teens are not only spending wisely but also learning how to save and invest for their future. As they continue to manage their finances, teens will increasingly contribute to a financially savvy generation.