In this post, I will discuss some of the most common things teenagers waste their money on. Hopefully, it will help you save some money so you can save or invest it instead!

Food 

Going out to lunch or buying snacks can quickly add up if you do it regularly. It’s fine to eat out with your friends or buy snacks occasionally, but doing so frequently can be very expensive and is not worth the money. Instead, you can make food at home with ingredients you already have to save a significant amount of money.

Coffee

Similarly, teenagers often spend way too much money on coffee. Going to places like Starbucks is usually far more expensive and less convenient than making your own coffee. A bag of coffee that would last around one month would cost approximately $10. Besides the cost of the coffee itself, the only other things you would need to buy are a sweetener and filters, which would also cost very little. Even considering all of these costs, it is still far cheaper than going to a coffee shop. In terms of convenience, it is much faster to make the coffee yourself than to drive or walk to a coffee shop, wait in line, and then wait to get your order. 

Clothing 

Clothing is typically a teenager’s most significant expense for two reasons. Many teenagers buy expensive clothing only to grow out of it in a year or two. It best to wait until your fully grown before buying high-quality clothing that will last a long time. Teenagers also often buy far more clothes than they actually need. To save money, try to cut down on the number of clothes you buy and switch to cheaper brands.

Shoes

Similarly, teenagers will often spend hundreds of dollars on flashy shoes or buy many different pairs. This doesn’t make sense for teenagers who will likely grow and have to buy a new pair in around a year. Personally, I have a pair of $20 shoes I ordered off Amazon that look good, are comfortable, and seem to be more durable than name brands like Nike. As a teenager, it just doesn’t make sense to splurge on expensive shoes. Instead, just have two or three pairs of cheap shoes that you can replace if you grow out of them or they get worn out.

In-app purchases 

It can be easy to get sucked into intentionally addictive games like Clash of Clans or Candy Crush. Not only can this be a big waste of time, but you may feel like you need to spend money to continue progressing. However, before making a purchase, remember that your paying for something intangible with no real-world value. I used to spend a significant amount of my money on in-app purchases, but after realizing that I was wasting money and only getting a few hours of enjoyment from it, it lost its appeal. 

Video Games

Similarly, video games themselves can cost a lot. Many games on the Xbox or Nintendo Switch can cost over $50! Before making a large purchase like this, you should be confident that you will get a lot of enjoyment from the game and that you won’t just play it for a week and forget about it. 

Electronics 

Spending your money on the newest phone or laptop probably isn’t a good use of your money. The specs barely change between models, and after a week or two, you probably stop noticing the difference. 

You should also be careful with any electronics you already have and make sure to use cases and screen protectors to prevent them from breaking. 

When you do end up replacing your old electronics, you should consider buying used electronics. It isn’t hard to find lightly used products in excellent condition on sites like eBay for far less than it would cost new. If you buy from reputable sellers, there’s very little risk involved. 

Cars

Most people get their first car as a teenager. Even though it can be tempting to buy the most expensive, brand new car you can afford, this is actually a really bad idea. Not only is a new, expensive car unnecessary, but it makes far more sense to buy a used car thats at the end of its depreciation curve. Buying a car thats a few years old usually means that the car has already lost most of the value it will lose, meaning that you can resell it for a similar price you bought it at.

Makeup

You don’t need to buy from expensive, high-end makeup brands. Oftentimes brands market very similar products; however, luxury brands can charge a premium for their name. Instead, purchase top-rated drugstore brands that cost a fraction of the price for a very similar product. It’s also important to only buy makeup that you will actually use on a day-to-day basis.

Other hygiene and skincare products   

Even though personal hygiene is very important, you don’t need to spend a fortune on it. Similar to makeup, spending money on expensive products is entirely unnecessary. You should prioritize good reviews and good results over brand name.

The takeaways:

• Make food at home with ingredients that you have instead of eating out
• Make coffee at home to save time and money
• Don’t waste money on expensive clothing that you will grow out of or buy more clothing and accessories than you need 
• Don’t buy expensive shoes that you will grow out of
• Realize that in-app purchases have no real-world benefit and only provide a few hours of entertainment
• Be careful not to spend money on pricy games you’ll only play a few times
• Don’t buy new electronics unless you need to
• Buy used electronics in good condition to save money
• Try to buy a used car thats a few years old so that your car maintains more of its  value
• Instead of buying expensive makeup from name-brand companies, purchase from top-rated drugstore brands for a similar product at a fraction of the cost