Competitive teens 'overspend due to peer pressure'

15/08/2008

One in four youngsters feel that they must splash the cash in order to "keep up" with their friends, Alliance & Leicester said today.

According to the firm, around one-third of 16 to 24-year-olds "feel judged" by their peers due to the accessories they wear such as handbags or sunglasses.

Moreover, nine in ten said that how they looked was a crucial factor in how they were perceived by those who knew them.

Andy Muddimer at Alliance & Leicester commented: "Peer pressure has always been rife among young people, as youngsters understandably feel the need to fit in or to belong."

He added: "While spending on clothes and accessories to keep up with your mates is important to this age-group, we would urge them to get savvy with their cash, and that will make it easier for them to keep up with the new trends and lifestyle accessories."

Regionally, the north of England was found to have the highest rate of youngsters who felt that they had to spend more to look good for their friends.

Around 34 percent of 16 to 21-year-olds in the area admitted to feeling the peer pressure.

Tags; Income Worries and Debt, Debt Management and Banking, Budgeting Advice, Recent Graduate Debt,

Regional Debt Advice; Debt Advice Leicester,

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