Teens cope with economy
Many learning to be selective, thrifty
By Sarah Day Owen| Staff Writer
Tuesday, June 17, 2008

Zack Holley is a rising senior at Evans High School who has a job he can walk to at his community pool and saves his paycheck. Rising costs for gasoline and other goods have had little impact on him, he said.

"I think about it, but since I live at home, it's not a big deal," he said.

Zack can walk to work, but other teens have to find a ride or drive. And when the economy is weak and prices are rising, it hurts them in the wallet or purse. Even for teens who rely on their parents for spending money and the necessities of life, economic woes can hit home when it impacts their parents, according to Barbara Coleman, associate dean of the college of business at Augusta State University.

"Parents aren't going to be able to support the lifestyle they're used to," she said.

Even if they want to work, some teens are having a hard time finding a job: Teen employment is down this year -- only one-third of teens of employable age are working, and they're facing competition for entry-level jobs that are being filled increasingly by senior citizens, Dr. Coleman said.

And even if they find work, teens and others with low-paying or minimum wage jobs are feeling the burn from paying for gas just to get to and from work.

"The cost of travel is eating up their paychecks," Dr. Coleman said.

Those pursuing education past high school also face debt, and the economy affects the number of teens applying for financial aid. Dr. Coleman did a study that found 50 percent of Augusta State students receive some sort of financial aid. She foresees the economy making an impact on schooling selection past high school.

"They'll continue to live at home and go to a school that's close," Dr. Coleman said.

Some teens say they are learning how to be thrifty.

Micah Johnson, 18, a recent graduate of Lucy C. Laney High School, says he thinks higher prices will cause teens to concentrate more on paying for school and the necessities.

Ali McCollough, 15, isn't driving yet, but the rising sophomore at Davidson Fine Arts School said she's already worked out a deal with her parents to budget her money to include paying for gas for extra trips.

Ali said the economy is an issue she already thinks about because of the presidential election campaign.

One way she saves is by frequenting Plato's Closet, a resale store that buys and sells upscale clothing. Owner Walt Rowan said he has seen a steady rise of teen patrons over the last two years.

"That demographic seems to have more disposable income," he said.

The appeal may be in the price -- they can get more used clothing for less money than buying the same thing new at the mall, and the store carries teen-favored brands such as Abercrombie & Fitch, American Eagle and Charlotte Russe.

At GameStop, salesman Mike Crowley said he's seen a decrease in teens bringing in games to trade, and the reason could be because newer games have so much more action and levels that they are more likely to be replayed.

Megan Greely, a recent graduate from Aquinas High School, said her parents have a credit card she uses to buy gas and she has to budget, since she gets a set amount. Her paycheck goes into a savings account in a bank in another state.

"I'm lucky, I can easily save my paycheck," she said.

She says she also received an athletic scholarship for swimming at Brenau University, which will make her college bill smaller.

The economy is a worry Chloe Kirby, 18, a recent Evans graduate, said she will put off for another time.

"Maybe when I'm in college," she said.

Reach Sarah Day Owen at (706) 823-3223 or sarah.owen@augustachronicle.com.

From the Tuesday, June 17, 2008 edition of the Augusta Chronicle
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