Newspaper Review 2

The straits times
Home,Part B

December 11, Thursday

If we can afford to spend, why not?

Summary:

Most Teens with allowances don't think recession will curb their spending. The Strait Times polled 100 students- aged 13 to 19- who received pocket money. Their responses showed most of them did not think the current recession here would affect their spending habits or that of their families. Most school-going children seem unaware of terms such as ' recession' or 'economic downturn'. When they run out of cash, they just their parents for more. They give in to peer pressure, having the same things, trying to obtain them even if they can't afford it.

Opinion:

I think it's not that the teens don't know about the economic crisis, it's that they don't want to face it. They don't want to change their lifestyle, and want to spend on their multiple 'wants'. Their parents do not spend enought time with them during the week, so to compensate the parental 'love', they give them material 'love'. This encourages their children to think there is a never-ending source of money and there is no need to save for the rainy days. If there is something they want, they should save first. Otherwise, they would never know the value of money. Children should cultivate the habit of saving from young, to learn the value of money.

duqun.