The downturn of the economy has affected both adults and teenagers. While some parents do not talk to their children about the economy, but children notice the difference in their parents' behavior. Parents are now checking grocery prices closer and cutting back on certain luxuries, such as going to the nail salon or a sports activity. Some teens are cutting back on certain expenses as well.

Many activities that teens enjoy doing, like going to the movies, shopping at certain stores, and going out to eat are being limited. “The economy is affecting teenagers in a negative way because they have to cut down on their spending money for things they enjoy, like going to the movies,” said sophomore Chad Valcoviak.

“Teens cut down on going to fun places like the mall and movie theaters, because they need to save that money for stuff that they actually need like money for gas,” said junior Ali Dunn.

Some teens are cutting back on their expenses for gas money and college. College funds are depreciating. A student’s plans to attend a certain college may change due to financial reasons.
Teens are noticing a change in vacation plans. In times of economic hardships, extras like vacations are one of the first things cut. Another costly occasion is prom. Accessories for the perfect prom can include a limo, tickets, shoes, formal wear, and dinner -- all expensive items that add up all too quickly.

Teens seem to be handling this situation in a mature way. According to USA Today, teens want their parents to inform them of the financial crisis. Teens are taking a step in helping out by cutting down on costly activities. They are getting part time jobs to earn a little extra spending money. However, because of the layoff increase, there is a ferocious amount of competition in the job market. The U.S is in a recession right now and teens are trying to make the best of a bad situation.