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Spending among "Gen Y" has been dropping over the past twelve months. Annual spending among teens was $1,154, down from $1,536 in fall 2001. In spring 2002, yearly spending was $1,542. In fall 2002, girls spent $1,342 compared with $1,458 in spring 2002 and $1,716 in fall 2001. Guys spent just $890 in fall 2002 compared with $1,661 in spring 2002 and $1,152 in fall 2001. U.S. Bancorp Piper Jaffray says its recent survey also showed that a key component of the survey asked the students to identify what percentage of their disposable income they spend on video games, music/movies, electronic gadgets, clothing, accessories/personal care, shoes, food, concerts/movies and other. This fall, apparel was down from 19.7% of total spending to 18.8%, while accessories and personal care was up from 5.6% to 6.7%. Video games, electronics/gadgets and music/movies were also down, versus the spring 2002 survey. The only category posting an increase was car expenses, which was up from 10.7% of total to 17.8%.
