Over the past several years, nation-wide, everything has been getting increasingly expensive. From cars and college, to snacks and drinks, prices have gone up drastically. Despite most teenagers not being financially independent and managing a household, they are still feeling the impacts of inflation across the U.S.
A 2023 survey found that today, teens are more worried about how money and the price of things are going to impact their futures. The report indicates that 47% of teens are worried about inflation impacting their post-high school futures.
Prices for most goods and items have been going up throughout the years, but recently they have increased at a rapid rate. The cost of items like eggs have increased by $1.56 in the past six years alone, when they previously cost $0.56 from 1980 to 2019.
Many teens are also seeing price changes in businesses they love and support. For example, popular chain Starbucks. The coffee chain has added an $0.80 cents up-charge to any add-ons to coffees that are more than the default syrup. And, price increases all around that can range from $0.50 to $1 in value. This can add up very quickly, especially when teens buy it everyday, or multiple times a day.
McDonalds, which is usually known for its cheap and affordable food, has been seeing big spikes in their prices. From 2015 to 2025 things like the the Big Mac burger had a $1.70 increase, where as a medium fries has had a $2 increase. The kid’s Happy Meal has also gone up $3.34.
The rise in prices has impacted students greatly, as they navigate the world with their own money.
Georgia, a Cardozo student, reflected that things have gotten unaffordable. “I can’t afford basic necessities part time or full time,” she said. Students struggle to afford basic goods, never mind things that they want as extras, even when they have a job. For students who don’t have a job, it’s much more difficult to do anything fun.
Another student, Aaron, explained that places where they used to go and hangout are also too pricey. “Especially in malls, it’s got a lot more expensive,” he said. Things that were once considered “cheap” and “easy” are not out of their price range.
“I burn through a lot of my money very fast,” Aaron added. “I can’t get the things I need to buy, but books, they are $50 dollars.” Even buying supplies for school has gotten out of hand, with students needing to buy expensive items, like books, it’s almost impossible. In addition, they need to buy other school supplies such as pencils, pens, folders, etc.
It’s clear that teens are getting hit hard with inflation, and by the looks of it, it seems it’s only going to get worse. But, there are things that many can do to try and combat the cost of everyday goods. Implementing a budget is an incredibly useful tool, serving as a way to limit spending.
For starters you should budget your money correctly by only spending a set amount, and trying not to go over that limit. Additionally, students can try doing free activities on the weekends with friends to avoid overspending, such as going to a local park or a free museum. Shopping sales and using coupon codes are two other ways to combat the continuous rise in prices.
