A new survey about teenagers' spending habits provided good news for Exxon Mobil(XOM - Cramer's Take - Stockpickr), but bad news for Abercrombie & Fitch(ANF - Cramer's Take - Stockpickr): Gasoline has surpassed clothing as teenagers' No. 1 credit-card expense.

A poll of 712 teenagers conducted by Junior Achievement and The Allstate Foundation(ALL - Cramer's Take - Stockpickr) also found that a larger portion of teens are using credit cards -- 10.4% vs. 8.5% a year ago.

The findings show that the double-barreled blast of high energy costs and credit-card debt has reached teens' piggy banks. But mostly, it has further drained parental pocketbooks, since the study also found that bills are being paid by parents more often than in years past.

"Rising gas prices are impacting teens as much as they are their parents," says Jack Kosakowski, president of Junior Achievement USA. "The question is, are the teens paying off these cards, or are they passing the debt on to their parents?"

In the most recent survey, about 69% of teens said they use credit cards for gas, up from 52% a year earlier and 46% in 2006. Gasoline now tops the list of things teens are charging, above "clothes," which had led the list in previous years.

Joleen Martis is one teen whose style has been crimped by surging fuel costs. She budgets $80 per week for gas to fill up her Honda(HMC - Cramer's Take - Stockpickr) Pilot SUV.

"It wasn't always that way -- I used to try to shop here and there but since gas prices are high, I don't really shop as much," she says. The 17-year-old Rahway, N.J., native has a part-time job at Best Buy and spends most of her cash on fuel and food, but keeps a side-stash in case of an emergency or necessary shopping spree.

In reference to the part in bold --

What a waste of time!

She's working at Best Buy instead of learning practical (in her case, domestic) arts -- and instead of saving up money for a down payment on a house or something practical, she's spending it on gas and food which are mostly necessary because she's working! And then she wastes the rest on overpriced consumer items such as name-brand clothing (i.e., a $4 T-shirt with a logo, making it a $17 T-shirt)

And some parents are actually paying for their kids' gas? Unless they're driving to school or something, those parents are foolish. This is why people say kids are so expensive. I say: Not unless you're a product of the modern world!

And $80 a week for gas? Our family of four spends about $15 per week. And a family certainly has more legitimate business to accomplish than a teenage girl. She should stay and home and learn to sew, make clothes, garden, can vegetables, cook, do accounting, learn first aid -- SOMETHING that could be useful in the future.

The same goes for the teenage boys out there -- they spend too much time on computers, video games, and other gadgets and not enough time developing true manly skills.

Matthew

But maybe most of the gas does not go for her drive to work - she could live close by her work. I think teenagers (and most people) spend a lot of gas money visiting friends or boyfriend/girlfriends and going to recreational places (such as the movies or mall) or cruising. When you are a teenager the last thing you want to do is stay home- you want to visit friends and girlfriend/boyfriends and hang out with them.