Financial security and employment are top concerns for teens worldwide, according to a GenWorld Teen Study recently conducted in 13 countries by Energy BBDO. Seventy percent of teens polled cite “financial security” and “making their parents proud” as top life expectations, and more than half expect to be rich in their lifetime. Furthermore, 50% expect to own a business.
“Teens around the world today are re-defining the good life,” says Chip Walker, executive vice president and director of planning at Energy BBDO. “They view money as a means to an end rather than as an end in itself.”
The study’s findings suggest that teens’ financial ambition is a practical means to protecting their families and creating security. Their top five global personal values include: 1) protecting the family: 65%; 2) freedom: 55%; 3) enjoying life: 54%; 4) stable personal relationships: 54%; and 5) having fun: 51%.
Only 34% of teens cited ambition and aspiring to get ahead as personal values, and 78% disagree that in seeking a job, money is more important than personal fulfillment.
“Companies today must address these new teens who are ambitious and craving a well-rounded life,” explained Mr. Walker. “To do so they need to recognize the nuance, sophistication and many goals of teen life.Unlike their predecessors, many teens today have their eyes on a higher prize: balance and enjoyment in life,” he said.