Teenagers are often stereotyped as being irresponsible with their money, but a new study reveals just how far from the truth that is for the new ‘digital pocket money’ trend. According to the survey conducted by Mercado Pago, the average teenage tíquete-médio is a surprisingly hefty R$268. This highlights just how financially savvy and smart the modern generation of young people is when it comes to managing their own finances.
Table of Contents
- 1. ‘Digital Pocket Money’ for Teens is High: R$ 268 Average
- 2. Study Reveals Teenagers’ Spending Habits
- 3. Generational Dependence on Digital Payments
- 4. Surprising Results from Mercado Pago Study
1. ‘Digital Pocket Money’ for Teens is High: R$ 268 Average
According to recent research conducted by a respected Brazilian banking institution, Digital Pocket Money for Teens is on the rise. Reports have revealed an average monthly transfer of R$268 into these youth’s digital accounts.
The enhanced access to mobile banking solutions has made it convenient for parents and guardians to provide pocket money to their teens. Similarly, the teens who receive this money can use their digital accounts to keep track of their expenditures and savings.
Given the ease, affordability and accessibility of modern banking technologies, it
has become simpler for parents to provide their teens with the much-needed incentives and funds in the digital economy. Some of the most commonly bought items on the digital platform include:
- Electronic Devices
Although Digital Pocket Money is increasingly becoming a norm for outdoor shopping and other needs, it is essential for teens to be taught how to manage this digital money in a responsible manner. After all, teens are likely to carry this habit of prudent financial management into their adult lives.
2. Study Reveals Teenagers’ Spending Habits
A 2019 survey of 2,000 U.S. teens revealed the way teenagers choose to spend their discretionary income, revealing how they prioritize different styles of expenditure.
Clothing and Accessories
- 62% of teens considered clothing and accessories as their biggest priority when disbursing money.
- 50% said they aspired to dress the most fashionably.
- Air Jordan’s were the most coveted item in the group.
- 45% viewed technology as their highest spending category.
- Apple iPhones accounted for 80% of the phones bought by teenagers.
- Laptops were mostly used for gaming and watching streaming services.
- 37% of the respondents choose to spend their money on entertainment.
- 82% of teens opted to see movies in the theater, as opposed to watching them from the comfort of their own homes.
- 75% picked live concerts over traditional sports, such as football.
The study results provide a glimpse into how much teenagers prioritize looking stylish and staying up-to-date with the latest technology trends, while also taking time out for recreational activities.
3. Generational Dependence on Digital Payments
The way we do payments is evolving rapidly, and it seems that digital payments are becoming more essential than ever. It’s clear that generations are depending on digital payments for the commencement of everyday life with each generation adopting digital payments at a much faster rate than the previous.
The younger generation, specifically millennials, are the first to have grown up in an environment where technology surrounded them in every aspect of their life. This has caused millennials to regard physical payments as a synonym for ‘outdated’ and instead favour digital payments due to their speed, convenience, and security.
The more prominent generation when it comes to digital payments are Generation Z, those born around the mid- 90s to early 2000s. With digital payments taking over, this generation has become accustomed to making all their payments digitally. This includes paying bills, renting an apartment or even buying groceries. What once would have taken days or even weeks, now just takes a few clicks of the mouse.
4. Surprising Results from Mercado Pago Study
Mercado Pago, a South American digital payments company, recently conducted a study on customers’ payment experiences. The results of the survey yielded some unexpected insights.
1. Fast Transactions – A surprising 97% of customers prefer payment processing times under 15 minutes. In comparison, only 33% said that quickness was one of their top factors when choosing a payments provider. This shows that customers are willing to be patient when selecting a platform, but prefer extremely fast service once they do.
2. Go Digital or Go Home – While 97% of respondents said they prefer digital payment methods, only 57% prefer to use a financial institution for their payments needs. This indicates a clear shift towards digital payments platforms.
3. Security Matters – The top priority for payment methods appears to be security. Respondents ranked automated fraud prevention as their first priority, followed by:
- Encrypted data storage
- Two factor authentication
- Customizable authorization rules
Overall, the study’s results showed that people are increasingly looking for easy and secure digital payment solutions. It’s clear that financial security remains one of the top factors when it comes to choosing a payments platform. As payment methods continue to evolve, so too will customer’s needs.
Q: What is the average monthly ticket for teens using digital allowance?
A: According to a survey conducted by Mercado Pago, the average ticket-month of “Digital Allowance” for teenage users amounts to R$268.
Q: How much can teens spend with the digital allowance?
A: The survey of Mercado Pago reveals that teenage users allocate an average of R$268 to digital allowance each month.
Q: What does the survey conducted by Mercado Pago show?
A: The survey shows that teenage users are increasingly relying on digital allowance platforms to manage their own money. It also reveals that their average monthly ticket to spend with digital allowance is R$268.
Digital allowance tickets are a revelation for the younger generation of today. It’s clear that teens are embracing the new technology as a way to manage their spending and make their lives easier. With this in mind, results from the Mercado Pago study show us that teens are already using this technology to their advantage. By offering teens the ability to keep track of their money, the digital allowance ticket is here to stay.
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