TAKING TIME by Rebecca Escotf Penn State Extension Home Economist For Lehigh County ViMMifIHHI Give Kids Spending Savvy “They don’t usually show up in customer records, but they have a big influence on how people shop and spend.” That’s how American Demographics author Paco Underbill describes children and their influence in the marketplace. Did you know that the average teen in the U.S. spent $3,000 in 1991? More than 40 percent of American teenagers use their parents’ credit cards; 11 percent have their own cards! Children, and especially teens, are becoming more involved as spenders in our malls, grocery stores, and entertainment hang outs. But their influence extends far beyond the actual dollars that IT ALSO CUTS MANHOURS. Hesston 1160 Mower Conditioner I EAST 2nd BT*“- Ahescton ( AGCO) THE PRIME LINE HERNLEY'S FARM EQUIPMENT. INC. 2095 S. Market St. Elizabethtown, Pa. 717-367-8867 STOLTZFUS FARM SERVICE, INC. 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We built it with a center-pivot design that gives you all the benefits of a self-propelled—without the extra expense. And it's made for consistent, even cutting. Once you've entered your fields, the 1160's fully engaged 110" conditioner goes to work for fast drying and even, well-conditioned windrows. You can even adjust the forming shields to produce everything from a swath to Hesston's unique fluffy windrow. Whatever the crop condi tions, the 1160 tailors itself so you can harvest the highest quality hay and save lots of time in the process. See your ACCO/Hesston dealer listed here and ask about our flexible financing plans on the 1160. Or on our wide selection of other equipment, all backed by the AGCO Warranty Program. STANLEY'S FARM SERVICE RD 1, Box 46 Klingerstown, Pa. 717-648-2088 Shesston tAOCOI THE PRIME LINE Research shows that children acquire more knowledge and understanding of money when their parents plan spending, com pare products and keep appropri ate records. What example arc you setting? It’s important to supplement your example with conversation. As you plan, include your kids. What amount do you have to spend for back-to-school clothes? Point out the unit label when you see that an eight-ounce box of spaghetti is cheaper per unit than the three-pound box. Is that unusual? When you pay for a pro duct by check or MAC card, explain to your kids why you’re immediately writing it down in your checkbook register. Not only do kids need good role models. They also need chances to leant by experience. The first opportunities come as they begin to receive an allowance. It is criti cal that they be allowed to use that money as they please. Parents are urged to provide a few guiding comments, but avoid controlling the purchase. They also should not rescue a child when the funds are gone, and she wants to go to the movies with friends. Children must learn money is limited. Businesses want-people to spend their limited money. And they set up their stores to encour age less-than-savvy spending. Consider these gimmicks. Pro ducts priced three for a dollar will sell more quickly than those priced 33 cents. Chip dip and sal sas placed next to bags of chips and tortillas bring in big bucks for the vendors as do the croutons and refrigerated salad dressings in the produce section. Expensive items are placed at eye level. Store and generic brands will usually be much harder to reach quickly. Beware, children will interact with anything displayed at their height. And stores now have sen sors that activate animated charac ters who promote products. Advertising is everywhere. Teach your child or teen to listen critically. What’s the catch? Inter- Lancntor fanning, Satuntay, August 13 IM4-831 esdngly, marketers have discov ered tint moms seem to be better than dadiat saying no once a child has latched on to a product. But these same researchers predict that as men do more shopping, they will become more skilled at resist ing unreasonable requests. Remember gaining spending savvy takes time. You didn’t learn everything you now know about money in one lesson. Children will learn as they are ready, and as they are given opportunity. Day by day, they too will become skilled, savvy spenders. Rebecca Escott is a Home Eco nomist with Penn State Coopera tive Extension in Lehigh County. Cooperative Extension provides practical information designed to improve the quality of life for loc al residents. We work in partner ship with Penn State and county government f)
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