Money seems to be everywhere. On the news talking-heads discuss the plummeting stock market and at school teachers remind students that each white board marker costs 75 cents. But it appears the slowing economy is not slowing student spending. According to a recent survey of three sophomore, three junior, and three senior seminars the student body is able to spend an average of $50,000 dollars per week.
The median student expenditures each week total $26-75 and most of that is spent on food or drinks, the Free Press survey found.
Many are concerned for the Lawrence economy because consumers can travel a short distance to Kansas City or Topeka for greater shopping variety. Our survey shows, however, that most of the $50,000 spent per week seems to be staying in Lawrence. Of the 100 students polled, 60% said they shopped locally, 12% in Kansas City or Topeka, and 7% shopped online weekly or more often.
The high school years may be the easiest part of life financially. For most students, rent is paid, food is provided and every time a check bounces parents are there to cover the student’s financial faults. Sixty-eight percent of students, even those who have jobs, stated that a majority of their income came from their parents. Students represent a vital part of the economy: those who can spend freely without worrying about the consequences.