Dec. 11, 2006 -- Fewer teens are planning to splurge on holiday gifts this year, according to a recent survey by Junior Achievement Worldwide, a business advocacy group for young people based in Colorado Springs, Colo.

Of 1,512 teens polled online, only 57 percent said they intended to spend more than $75 on gifts, a three percent drop from last year, while 66 percent said they would spend less or about the same as last year, the report said.

"We see it as a positive indication that they are learning the importance of spending within their means," Darrel Luzzo, the group's senior vice president of education, said in a statement.

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Published on: Dec 11, 2006