More teens saving their summer earnings

Teens are saving up for things like college tuition, a new car, or technology

GREENFIELD, Mass. (WWLP) – The summer season is usually a time for kids to have fun, but it’s also the season for them to earn and save.

Teens across America are expected to save $10.5 billion dollars this summer. That’s a 30% increase since last summer.

Research from American Express says teens are using their school break to unlock their earning potential. The average teen will earn $582 a month and save more than half of that. Teens are saving up for things like college tuition, a new car, or technology.

One Franklin County teen told 22News her job plans. Georgia Fowler of Turners Falls said, “I haven’t prioritized saving for my future yet, but I do want to be able to save for it. I’m going to look for jobs in Turners because I know a lot of the local business owners there, but what I would really like to do, and what I am looking to do next summer actually, is work at Rare Book School, which is at the University of Virginia.”

The top summer jobs for teens include fast food restaurant work, grocery store employment, followed by baby-sitting.

7% of teens calls themselves entrepreneurs and are looking to start their own business.

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