When every dollar counts, parents are having to say no…when all they've ever said is yes. Has your outlook/habits with regards to money changed in this country's economic decline?
In this troubling economic time, is it important for parents to discuss their finances with their children? Should children know how much money their parents make?
How has the recent decline in the economy affected your outlook on your future?
job prospects?
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36 comments:
My regards to money has not changed because I have always been very conscious about my spending. Parents should discuss their finances with their children, but it is not necessary for them to know how much money they make. I feel this way because it is not a matter of how much money you make total, but how you capitalize on the money made. The decline in economy could potentially affect my job in the future.
Abby dante period 2
My outlook or habits regarding spending has not changed. Money has never really been an issue for me and i don't spend that much to begin with. I feel it is important for parents to discuss with their kids how they are doing money wise because if they aren't doing well, than possibly the children can help. I think it's not important to for children to know what their parents make. I feel it's best to know that they are overall doing well because it is none of the childs business. After the economic decline, I am nervous about the future and getting a job. I want to be sucessful and I'm scared that might be the main factor holding me back from that.
I would say my outlook has changed not necesarily because of the decline, but because I am having to buy more and more by myself. However I know my dad is having trouble finding work and even though that he hasn't been working for sometime it isn't really hurting us financially more morally. I think parents should discuss with their kids to some degree what is happening with the money. The recent decline has severely damaged my chance of getting a job right out of college. With less jobs and people with more expierence trying to get the same job as me it will be extremely difficult.
Chris Grenzig pd. 2
I think it is important that parents discuss their finaces with their children if they are at the age of understanding it. It is important for kids to know what is going on and the reasoning behind there parents not letting them do something because of the economic situation. But I don't think its neccesary for the child to know the exact number of the income. The recent decline in the economy has changed my outlook on my future being that it is so difficult to get jobs espically in the field i wish to study, physcology. This all will effect if i decide to study it or choose a new major with more job opportunities.
Lauren Graff, pd 2
During this economic hardship, The money situation has not really affected my life. I think that kids should be aware of what there parents make and this will force them to realize to maybe stop asking for so many things. Children should know about what there parents have to pay for.
I think it is safe to say that "Mommy makes this much" is not what parents should be telling their kids. Of course, at an older age, we should know around how much our parents are making because that can affect our decisions involving colleges, summer jobs, and the like. The economic situation has not affected me significantly, though I know of people who have been hurt. I will have to consider it, probably like many other students my age, when it comes to affording college.
John Dodaro per. 2
I've always been taught the value of a dollar. However, growing up in a family that was well-off, it was normal for me to expect the materialistic things that I, dare say, expected. As the economy took a turn for the worse, my family, along with the majority, was one that tripped up financially. I found myself having to grow up and become more responsible. To help my parents, I took on two jobs to help pay for myself, my necesseties and my wants. I realized that it is important to know your family's financial status because it may motivate you to work hard, as your parents have done for you the past umpteen years.
Besides taking on a healthly amount of resposibility, I have also looked towards and altered my future dreams to put things into perspective and make them realistic. I had once desired the life of a dancer. One booking jobs left and right along the streets of LA, being given oppurtunities that helped me tour the world. However, in an economic decline a dancer's typical salary is not one that will support you. When the economy falters, the arts are the first thing to be sliced. So, as an artist you are put on "life support" as the economy hits a rocky terrain. I have planned my life accordingly...Looking into colleges with a smaller tuition, picking jobs that will be prosperous (no matter what the economic status may be, as it is gaurunteed to change more and more as time goes on). This faltering economy has certainly brought about a lot of change, for me and for many people my age.
Nicole S.
Pd. 2
For me, my parents have taught me the meaning of a dollar. No matter how much I begged, if something was to expensive, I wasn't rewarded with it.
I blieve in todays economic state. If a parent can not afford to purchase something for their kid, they should not feel obligated to do so. Right now it's more important to buy food, and pay the mortgage. The parents should let their kid know so they know the reason.
As for my future, it might suffer because of this tough time. I am most likely going to be mobbed with college debts, which will take a eternity to pay off.
Bryan Martin Per.2
My regards to money has not yet had to change because of the change in our economoy. My parents have always given me money when I needed it, and I now since I have taken on a new job I have had more money than ever. My parents have been trying to teach me the value of money and not to spend every last dollar I have.
My regards to money has stayed the same. I have always been concious of my spending, except when it came to clothing. I think parents should make children aware of money especially when it comes down to paying for college. Parents should support their kids to an extent however, they need to make sure the children understand what is a need and what is a what. I hope to be successful in my future, although the industry is going to be difficult to do well in. I am determined to have a stable life where i can support my family and even my mom in the long run.
During the recent economic hardship my outlook on money has not changed much. I use to/ still do think money is a limited resource that I can use on stuff that I only need. I think that it is important for older kids to know how much money their parents make and how much of this money is going towards paying bills because then they will understand how much money their parents actually have to spend. The recent decline in the economy has affected my job search, but when i come out of college I know I will find a job in the field im going to major in.
Kevin Schlakman
Period 2
I feel like the decline in the economy hasnt really affected my life and spending habits personally but I guess it had made an impact on my college choice. While looking at colleges I make sure iIam price conscious. I do not think parents should discuss their finances with young children but children in high shcool like myself pretty much know whats going on already anyway so if they realize the economy is bad and they are still asking for money right and left I think parents reserve the right to explain why they cant continue doing that. With little kids though they should not because they do not really underdtand whats going on and any way you try to explain the economy to a child is going to translate to them that theire parents are poor because it will be to confusing and thats what they will think. I dont see why children shouldnt know what their parents make but with young kids it really wont make a difference because they wont know wheather it is good or bad and with older kids if you know what your parent does for a living you pretty much know what they are making. Well like I said the change in the economy has changed where I look at for college and also my career choice because with this tremendous decline jobs are scarce and I know that Education is a great feild to be getting into right now espically with Math. So I hope once I graduate I will have no problem finding a job and will be able to start my life right away.
-Ally Simeone
Period 2
The economy hasnt really changed my regards to money, because I have always been a very frugal person when it comes to money. I think that parnets should disscuss they're finances with they're child to a point to show them that the family may need to cut back or be more concious with they're money, but they shouldn's scare the child by saying that they're going to lose they're house or something, because that could make the child worried or make them think it is they're fault. The economy hasnt effected the job I have right now because I still have hours. It could effect my job prospects in the future however.
Diana Pacinello Pd. 8
My outlook with regards to money has changed a little bit because now that im older im more cautious of what i spend my money on. I also think it's important for parents to touch upon their finances with their children so the children could understand what they're going through and why they might say no sometimes when they usually would have said yes. The recent decline in the economy hasn't really affected my outlook on a future job because what i want to do doesn't nessecarily have a lot of competition like a business position would.
With the economic times as they are, I have been trying to cut back on my spending because i don't have a job so i don't really make money in the first place and it sounds crazy but i hate yhaving to ask my parents all the time for money. So with that, i have been trying to do what ever to not spend anything whether it's only buying what i abasolutley need or buying things on sale. As for the future, many career path have less and less job opportunities. This is a big reason that i can't do what i want when i get older because 1, theres no jobs left in that area or 2, it doesnt provide enough income to get me through the tough times that could be faced then.
My outlook on spending has changed a little because now i dont even feel the need to ask my parents for something that i know is too expensive. I think kids should be aware of the economic situation because it teaches responsibility. I don't think kids should know how much their parents make though because that information should be kept private and isn't necessary for kids to know. I think the economic situation may have an effect of my ability to get a job when i get out of college. I am positive that this situation will affect my older sister's chances of getting a job, who is going to graduate college this year. She will probably not get hired quickly because there are many well experienced people that are being laid off right now.
The downturn in the economy hasn't affected me too much, since I don't spend as much as others I know on clothes, food or gas. I'm cheap.
Parents should discuss finances with younger children in qualitative terms rather than quantitative, meaning they should inform their children that money doesn't go on trees, but not inform them of how much they make. With older children and teenagers, parents should be honest about enything their child asks, and should actively teach them about money since they will soon be dealing with finaces themselves when they move out.
The economy has definitely pushed me more towards state schools in terms of college, and towards more practical majors.
Steph Chocko Period 8
My habbits towards spending money have not changed during this country's economic decline. My parents have never just "yessed" me. They've always made me look carefully at the decisions I was making regarding how much I was spending and what I was spending it on. While this decline in the economy has been hard on everyone, it has opened my eyes even wider than before. I have held down a retail job for a year and a half, and when I want something, I pay for it; I fill up my own tank and buy my own clothes, makeup, etc. While it was a slight adjustment to make the change from spending my parents money to spending all of my own money, it has made me more independent and self-sufficient. I think that it is so important for parents to talk to their children about money and how to make wise economic decisions. Because my parents started me off early as a conscious spender, I have and will continued to be one and make good decisions.
Shayna Williams, Period 8
My outlook about money has changed, but not because of the economic decline. I am having to buy more things for myself such as car parts and gas. Now that i have to buy these things myself it has given me a idea of the value of money. I dont think it is important for parents to discuss exactly what they make to thier kids. as long as he kid has a general idea about the amount of money avalible. Kids need to realize what thier parents have to pay for and how much spending money is avalible.
Steve Krajci-per 8
Now that the country is going through an economic decline, I don’t feel as comfortable asking my parents for money to go to the movies, or spending money for the mall. About 2 years ago whenever I needed money I would ask my parents for money without worrying but now I don’t because I know that my parents will give me the money I ask for even if it’s not in our budget because they want to give my sisters and me everything they can. Now that the prices have gone up on a lot of things like gas, I feel that I shouldn’t get that extra spending money that wasn’t included in my allowance. I think it is important for parents to discuss their finances with their children because if the children are aware of their parent’s money situation, they will know when an apportaitate time for them to ask for the money is. This will also make children think more about if they really need the product they are about to buy, or if there is something that is more beneficial to them. I don’t think it is that important to know how much your parents make, because if you know that your family is finical stable, it doesn’t really matter how much your parents make. The recent decline in the economy affected my outlook on my future by scaring me that everything is going to go up a lot in price and that it’s going to be hard to buy all the things that I need in order to survive. The job prospect is also scary because since the economy isn’t doing that well, there aren’t going to be as many jobs out there, however since I want to be an accountant, it shouldn’t be too hard to get a job because every business, store, and company needs accountants. There are also regular people who need accountants to help them with their taxes, which is a way to bring in some extra income without having to do a lot of work.
Jackie Loveland
Period 8
During these difficult economic times that we are now faced with, we all have to change our outlook on how we spend our hard earned money. I personally know that my outlook has changed because instead of buying clothes and material items that I would normally buy, I now need to save my money to pay to put gas in my car. I believe that parents should make time to discuss with their children their finances so that they have a better understanding of what their parents mean when they say no. Children need to have an understanding of how much college costs and the price of paying for their basic needs. I don't feel like it's necessary for their children to know how much money their parents make because it is a personal matter. The recent decline in the economy has turned my attention to jobs in the health care industry because no matter what the economy is, there will always be a demand for nurses.
Gabriella Sehne Period 8
I got my first job right around the time of the begining of the economic downturn. Since getting this job I have been more responisble for paying for anything I needed myself weather it was a haircut, gas money, or school clothes. At first, this really bothered me, however I came to realize that my parents couldn't afford to pay for everything I wanted, and that just me paying for my own things was a huge help. I do not know how much my parents make and i don't think its nessesary for me to know unless there was a serious situation like if one of my parents lost their job.
Julianne Russo per 8
My outlook towards money has not changed. I don't think children should know how much thier parents make. If a family is having problems with thier money around this time, I do think the children should be very conscious about the money they spend. My regards to money has not changed because I have been conscious with my money exspecially now, that I work for my money, I know how it feels be spent on useless items.
Jackie saggese
period 8
I personally do not think that parents need to tell their children how much they are making. As a senior in high school most kids can guess the amount of their families income. By telling children how much they make may or may not incourage them to think that money is an object. Even if you are not in financial trouble I think everyone, especially teenagers should be put on a budget so they are aware of how to save and spend their money in the event that they do expierence some problems in the future. I don't have an opinion to whether or not parents should tell their children if they are having problems as a result of the recession. Some children may take it as it comes and try and help their families out, by saving, or getting a job for their own seperate spending money. But other children may think the problems were caused by them, for example, college tuition, car payments, or extracurricular activities. The reactions can be different, therefore it is up to the parent to decide whether it is okay or not to discuss money with their children.
I have become more aware of the true value of money the last couple years, however I thinks that more due to age than the state of the economy. I was never the type of child that wanted everything I saw. My requests were few and far between. So my parents never really had to say no. I did think it's important for parents to talk with thier kids about money. The kids should understand why mommy and daddy say not when they ask for something. Children need to understand that their parents are not angry with them and the more honest parents are with their kids about money the more likily that they will grow up to be responsible with money later in life.
-James Lopilato
Period 8
i feel that my life has not yet been impacted by the bad economy and my outlook towards money has not changed over the last couple years. I have been working in the last couple years for my own money rather then have it handed over from the parents so im not stupedly spending and extra careful what i spend it on. I Also feel that its important to know how your parents are doing but to much information can be harmful
During these economic times, my respect for money has somewhat changed. I don't go to the mall if I feel I need an new shirt. I only go when I really, really need a new shirt. For children to really understand the consequences these times has on their family, parents really should be talking about their conditions with their kids. Whatever is needed for a child to really understand how to manage their money and help manage their family's money should be included in this conversation. I am scared about finding a job. I do, however, believe this is just a cycle and things will clear up. Until this happens though, I will worry about my future, and pray for the best.
Michele Marciante pd. 8
I don't think parents should tell the exact amount of income it is they recieve, but I do think it is important to tell your kids what is going on and make them more aware so that they learn the value of a dollar. I myself have not been affected because I try to avoid spending money as much as possible on unnecessary things like going out to eat when there is already food at the house, etc. I only spend the money that I earn when I need to. Saving your money also pays off because my whole life I have been saving up my money and because I know the value of money, I bought myself a brand new 2010 car. It really pays off in the end, and I think children should be more aware of these things.
My outlook and habits regarding money have not changed at all. I, like most teenagers, rely on my parents to buy me things I want, but I don't really need most of that stuff. I have never badgered my parents about the amount of things they buy me because I realize that money doesn't grow on trees and you can't always get what you want. Coming from a famly of four kids,it is hard to satisfy the needs of four growing children. My sister and I, the two older kids in the family are both generous of whatever our parents get us and we make the most of what we're given.
I don't really think that parents need to tell thier children what thier income is. Children of all ages should respect thier parents and respect what they're given. Also, the recent decline in the economy has not really affected myself. I have a well-paying job in the summer and I have already signed a contract to come back next summer. With college, I have always been conscious of how much school costs, and with four kids,I realize that my future affects my whole fmaily's future. That's why I would like to go to a SUNY school, where tuition is about 30% of most other colleges. With that, I have taken college credit classes since 9th grade, saving my parents tons and tons of money on college tuition as a whole.
My habits with money has not changed in these economic times because I have always been careful with my money, and trying to save it. I don't think parents should discuss their finances with their children if the children are young and wouldn't understand. The recent economic times changed my future because I am now looking at cheap colleges, mainly state school or school in nearby states.
Stephen Pulaski Per. 2
For most people money is one of the darkest things that can happen to them there is nothing worse then having alot of money then losing it all. from living a ballin life to living on the streets that could ruin a persons morality and it truly is the worst thing on the planet next to cancer because money never makes anyone happy it just hurts you in the end
Bobby M Period 2
I do not think that kids should be aware of their families financial situation. I believe that kids should not face that type of stress at a young age. My parents are continuing to encourage me to attend a good college.
Chris McCormack per 2
I feel like parents should teach their children the value of money and how you can't have everything. this is just generally a good life lesson. However, sometimes parents go way over the top. Money should not be the discussion at dinner every night. Children should be aware of it but not burdened with it.
My outlook on spending money has changed somewhat lately but not becuase of the economy. It has changed because now that I am older and have a job, I pay for everything on my own. This is because it is necessary to learn the value of money. I think parents should talk to their children about their budget if their kids are not realizing that they need to conserve more now that things arent going so well in the economy.
My regards to money have changed in the declining economy. I have to pay my own car insurance every month, so I work in order to do so. It is necessary for parents to explain to their older children because they had gotten used to being told yes whenever they asked for money to go out and do things. The economy could potentially affect my job in the future and how I spend money.
Christina Link period 8
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