Money emotions – The Money Advice Service

Ashley: So, we’re really trying to understand the emotions when it comes to money. Jodie: I think a lot of the time teenagers feel really scared about money because you’re always really in competition with other people to have the nicest clothes. Alex. D: Image is a big thing nowadays, to have the brands, to have the latest gadgets and stuff like that. Friends do peer pressure you. Michelle: I do feel a pressure from the media, it is having to deal with that pressure and the keeping the balance really. Tiernan: When you do see your friends in better situations it does make you feel a bit jealous.
Tiarna: I’m at the age now where all my friends are having really big birthdays, so we’re constantly having to give out money. Gareth: There’s more pressure on spending money for young people than saving money.
Shannon: If I spend too much money and then I haven’t enough left it’s more panicking for me because I try and think where it has gone?
Alex: My flatmates do go out but often I’m in a position where I just can’t afford it kinda feels like I’ve let them down
in a way. So yeah, there is huge pressure there. Emma: Do you think it’s hard that we have cards to spend money without even knowing it’s going? Vusa: I think we rely so heavily on using our card because it is amazing how you think, “Oh, I need money, let me whip out my debit card”. Shannon: Just losing track sometimes of the amount of money I am spending and then realising that I don’t have as much as I thought I did.
Catherine: I just use my card all the time so I just assume I have money on it all the time, I’ll be spending, spending, spending. Then when it gets declined. I’m embarrassed, “Oh my gosh, what did I actually spend the money on? I shouldn’t be doing this”. Alex: I have a debit card but in a way I like to spend my money in cash form where I can because that makes it a little bit more real, the money is physically there in front of me leaving my hand.
Ashley: Where would you say you get your money habits from? Robyn: Well my mum and dad taught me an awful lot and it was my granddad who just recently told me that I should have a money box for emergencies.
Vusa: My parents definitely have had an influence on how I do look after my money. Shannon: My grandparents would have always told me spend more on what you need than what you want.

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