Youngsters in Saudi Arabia spend most of their money on phones, cars, handbags and fashion in an attempt to fit into a better social circle, stretching their resources.

It is believed that Saudi youngsters spend two times more than their expat counterparts. In a survey done by a group of university students, youngsters seem to be spending money beyond their means and not managing to save anything.

Moreover, food and going to expensive places also topped youngster’s passions. Similarly, the survey revealed that there is a wide difference in spending habits between genders; girls outspent boys on clothing and cosmetics, while boys spent more on electronics.

Hiba Ali, a final year student, said: “This survey on the spending habits of youngsters was conducted in a few schools and universities, and what we found was that parents are the key source of income that enables them to spend on Western products and brands. All this has heightened aspirations of the local teen, and parents are forced to accept it.”

However, several studies have been conducted in the past with regard to teen spending habits that revealed that this kind of behavior among teenagers is due to the flexibility and adaptability of human nature. Human behavior depends to a great extent on consequences; if unnecessary spending ceased to be trendy and saving became respectable, people would automatically change their standards and attitudes accordingly.

This habits of teenagers have forced parents to accept this practice of extreme spending, bringing a change in society as they don’t want their children to be the ones left behind by their peers. “Ask and you will receive money” is the basic reaction of most parents that is turning their kids into carefree spenders.

Farah Hameed, a working mother, said: “I have a 15-year-old daughter, who loves to shop and have beauty treatments. I am aware of how she spends her pocket money; I tried to advise her on saving money, but she refused to listen.”

With today’s requirements and needs of the new generation, parents want their children to have things which they didn’t have when they were young. This attitude consequently spoils children’s behavior and makes them irresponsible in many ways.

Although splurging on material assets is the norm among Saudi youth, some youngsters realize that spending money for the sake of appearance is wrong.

Mohammed Yasir, who works part time as an assistant gym instructor, said: “I try to balance my work and studies in order to save money for me and my family. It is important that the universities and schools take the initiative to teach students about the importance of financial planning and spread the culture of saving at a very early age.”