Newspaper Review I

Title: 'If we can afford to spend, why not?'
Date: December 11
Section: The Straits Times Home Pg B8

Summary:
Most teens with allowances don't think recession will curb their spending. According to a poll conducted, students received an average weekly allowance of $20 to $30 - in addition to extra funds for transport and mobile phone bills. Almost 60 of those 100 students surveyed said they spent three quarters or more of their allowance. When their cash ran out, they asked for more, with as many as 86% thinking that this is acceptable. Dr Brian Lim blamed working parents who do not spend enough time with their children during the week and so "compensate by giving money". However, parents say teens put pressure on each other to spend, such as peer pressure.

My views:
"Recession" or "economic downturn", these two words may seem unfamiliar to many teens in Singapore. Unless they read the newspaper or watch the news, I don't think they even know what crisis many are facing right now. Even so, teenagers continue to spend like there is no tomorrow. The articles stated many opinions of teens, which clearly expresses their lack of knowledge. Because that at a time like this economic crisis, the more they should think before they spend. A 15-year-old female dines at cafes and fast-food outlets rather than at school and eats only dinner at home because, as she puts it "If we can afford, why not?". I am not surprised by this statement, but I am disappointed. This thinking is becoming more and more common among Singaporean teens, and it seems to be getting worse. Not just this, the parents' action of ''compensating by giving money'' encourages teens to think that there is a never-ending source of money, and there is no need to save except for the latest gadgets or for fancy meals and entertainment. Yes saving is good, but saving for the unnecessary items? Uh-uh. We can't stop teens from being materialistic. I have to admit that a big part of this problem comes from peer pressure, because teens want to be part of a certain crowd they hang out with. And they will want to have the same things and thus, resulting in them trying to obtain even if they can't afford it. As a teen myself, I know how we think. But to escape from discrimination from our friends, to escape from being left out, i think that's why teens can go to any means to get what they want.
I don't know if this situation is the same with other countries, or maybe as serious.(I doubt so, judging from my experiences in schools like Shanghai.)I also wish that I don't need to live like that, spending for things which may seem "in" now but will be left alone after a few days. Honestly, I don't like. But I guess it's inevitable, especially among teens, because discrimination is so common. Perhaps it's time to brainwash the minds of us.
Important quotes: "What needs to be emphasised is saving first before spending - a concept not reinforced by parents." - Mr Ryan Soh. "The young will be overly optimistic about their ability to 'upkeep' their lifestyle, thinking nothing bad will happen to them. They could end up in debt, or worse, bankrupt." - Mrs Choo Jin Yi.

Pei Jun.