10 Things Teens Waste Money On

Where are they now? You know—your acid-washed jeans and those Bon Jovi tapes you absolutely couldn’t live without?

Although musical tastes and fashion trends have changed over the years, teens’ spending habits haven’t. Just like we did, they still waste their money on whatever sounds good in the moment—like a 10-pack of tacos or that new indie-rock album.

And while it’s perfectly okay for young people to have fun with their money, teens are old enough to stop blowing every last dime on stuff that won’t last.

Here are 10 typical ways American teens waste money:

1. Trendy Clothes and Shoes

Teens spend a majority of their cash on fashion, according to research from investment bank Piper Jaffray. While it’s normal for young people to take pride in their wardrobes, remind them that those super cool outfits will, like, go out of style in exactly five minutes (if they don’t fall apart first).

2. Fast Food, Vending Machines and Coffee

No surprise here: Teens are constantly snacking. They don’t flinch at paying $5 for a frozen caramel Frappuccino, $10 for a spicy chicken sandwich meal or $2 for chips from the vending machine. Snacks are fine in moderation. But if your teen is buying nonessential food items every day, they’re likely eating through a wad of cash.

3. Smartphones and Apps

What would life be like without texting, Instagram and Facebook? If you’re a teenager, it would not be LOL #awesome. Expensive smartphones are a status symbol these days. So are the cool apps that go along with them. Newsflash: Last year’s model makes calls just as well as this year’s—for much less.

4. School Dances

On average, kids and their parents spend about $1,000 on prom! Yikes. It’s one night, people! Glittery shoes and limo rides aren’t worth a mound of debt.

5. Spring Break Trips

Even if you trust your teen in Cabo, is it a wise use of money? And how much are you, the parent, expected to chip in? Encourage them to use their vacation time to work a few extra hours and save up for a more lasting experience—like, say, a semester of college.

6. Cars and Accessories

Your brand-new teenage driver doesn’t need a brand-new car. So unless you plan on passing down your wood-paneled station wagon, they’ll need to save up and shop around for a reliable make and model in their price range. With the leftover cash, they can upgrade their ride with shiny rims and leopard print seat covers.

There is no set recipe or formula for teaching teens about money to become responsible money managers. Parents can do a great deal to help their children develop healthy attitudes about money, its purpose and limits if they remember actions and examples speak louder than words.