The impact of the credit crunch on young consumers is the focus of a news report out today. Born in a period of economic boom, todays teenagers are widely thought to have no appreciation of the value of money, and little understanding of how to budget effectively.
They've seen their parents get in debt, and are used to borrowing money themselves; coupled with the looming financial burden of university the outlook for a future in the black isn't too good. Economists point to this generation as the key to getting the economy back on an even keel; pointing out that they are used to hunting for bargains (especially online) and the current crisis means they may re-learn spending habits.
http://news.bbc.co.uk/1/hi/business/8163323.stm
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