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As we debate whether families will continue to be able to pay for travel ball, others are struggling to put food on the table:

http://www.nytimes.com/2008/09/01/education/01school.ht...ofinance&oref=slogin

And here is a shocking study in contrasts -- a look at how the privileged youths of today are reacting to the current economic crisis:

http://finance.yahoo.com/family-home/article/105947/The...enager,-Ready-or-Not
Good articles. I believe that sharing the family budget with your kids can really help them get a grip on reality. I really do not think it helps them to understand the world by keeping this information from them.
At our high school the Economics class has a section "How Much it Costs to be You", where the student is required to keep track of all expenses from the beginning of the semester to the end. It is a real eyeopener. They then get ficticious "jobs", log in how many hours they can work per week and figure out the paycheck. Some students can work more than others, for instance student athletes, band, drama, all have required practice times, which really doesn't leave them much time to "work". The students are shocked at the numbers. It opens up a great dialogue.
This exercise could be used at home (without hostilitySmile to open their eyes a bit, and ask for volunteer cutbacks.

Kids today are bombarded with technology that is constantly changing and upgrading ($$), watch tv shows that show lavish Sweet Sixteen parties where parents shell out thousands, etc.

Some parents should have been saying "no" a lot more even in better economic times. Practice say "no" now even if you have the money to give them what they want, it only helps them out in the long run.

I see my son who is in his second year of college and living off campus, using what he has been taught at home about spending and saving. Now that it is "his" decision how to handle the money, he is making some very good choices, and I am proud that he really was listening growing up. He and another roomate are in charge of shopping for food and meal planning (I know! they actually do this!) They are very frugal, have discovered the 'day old bread' store, they have two rice cookers going all the time and got a George Forman grille at a garage sale, and it is amazing what they do with that thing.
I guess my point is, our young people more capable of change than we may think, especially if they have an understanding of why things are changing.
What do you NEED, as opposed to what do you WANT.

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