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T-Mobile

Teens clueless at pricing shopping– but savvy on gadgets

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By The Drum Team, Editorial

September 7, 2011 | 2 min read

A T-Mobile survey of 13-18 year olds has found that the majority of those quizzed were unable to accurately cost the price of a loaf of bread or carton of eggs – but could reel off the cost of the latest electronic gadgets.

2,000 teens were quizzed for the poll with the average response to the price of a loaf of bread falling well short of the true value of £1.10 at just 29p.

The value of six eggs were similarly undervalued with respondents thinking them worth £1 as against their real value of £1.90.

Fuel was similarly underappreciated with the cost of filling up a family car being put at £30 by most respondents – the true cost is around £70.

When it came to pricing the latest gadgets however, 8 out of 10 were able to readily quote the price of an 8GB iPhone 4 (£428) and were similarly knowledgeable of iPads and PS3’s.

Jasmine Birtles, financial advisor and commentator said, “It’s worrying that teenagers know so little about the costs of every day goods. This is the generation that needs financial education the most and they certainly need more parental control when it comes to spending and saving. The more that parents can help them manage their money, the better.”

T-Mobile’s new plan, You Fix, which revealed that teenagers are unaware of their monthly mobile phone expenditure.

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