Devon, 17, is used to paying her own cell phone and car
expenses. But lately it's been harder. The family she babysits
for hasn't been calling as much, and she couldn't find a
job over the summer. Devon's dad says it's a sign of the
tough economy. He told her he's feeling the pinch too, and that
he had to dip into her college fund to pay the mortgage.
These days it's hard to avoid news about the economy. Turn
on the computer and words like "recession,"
"foreclosure," and "credit crunch" fill the
screen. It can seem a bit scary - and some families are hit really
hard.
But as discouraging as things may seem now, the good news is
that the economy always gets back on track after a while.
What's Behind These Problems?
For most people, the big problem is that things cost more
at a time when they have less money to spend.
If you drive, you know how much oil prices have gone up. High
oil prices affect more than your gas tank, though: Companies also
pay extra to ship food and other items. Stores add these higher
shipping costs to the prices they charge, which is why things are
more expensive these days.
Higher prices aren't the only problem. Lots of people are
having a tough time making payments on some types of home loans
(mortgages) because the amount they have to pay each month has gone
up. And some people are worried about what's happening in
the stock market and the banking industry.
Even though prices have gone up, most people still earn the same
amount of money they did before all these changes. So families are
cutting back on what they spend.
How Does a Difficult Economy Affect Families?
For some people, the slow economy means eating out less or
staying home instead of going on vacation. Parents may not have as
much money to put toward allowances or college funds. For other
families, though, money problems mean bigger changes, such as a
parent taking on a second job or the family having to move to a
less expensive house.
When a family has money worries, it's easy to get
frustrated, and upset - and if you feel that way, you're far
from alone. Parents may also be more stressed out than usual. They
might argue more and worry about how to pay for things.
Naturally, this can put extra stress on you, too, especially
because parents' money problems aren't something you have
any control over. But although you can't solve family money
troubles, you may find that contributing in some way helps you feel
better.
What Can You Do to Make Things Easier?
It's comforting when our lives and routines feel the same,
so it's natural to feel worried if things change.
Here are some practical and emotional survival tips for dealing
with a tough economy:
-
Think like an entrepreneur.
Jobs may be hard to find, but the slow economy can open up new
opportunities. The couple you babysit for might cut back on
evenings out, but they could be interested in hiring you for
after-school care. Perhaps it's time to hold a yard sale to
get rid of the old toys and baby gear in the basement - or help
your parents sell these items online. If you're good at
navigating online auction sites, you could charge people a fee to
sell their old stuff.
-
Prioritize and plan for what you want.
When you want something, write it down. Next to it, write how
much you want it on a scale of 1-10. Keep this list going (items
may move up or down the scale as you add new ones). Then figure
out a plan to earn any must-have rewards.
-
Talk out troubles.
If you are worried, find a good time and talk to your parents
about it. Let them know you can handle the truth. If your parents
are fighting, drinking more, or seem to be sad or angry all the
time, talking can really help. If you can't talk to your
parents right now, lean on a friend, teacher, or counselor.
-
Practice the art of patience.
Some of your friends might have the latest cell phones, video
games, and basketball shoes, but others may be having a tougher
time than you. You may not be able to get everything you want,
but now is a chance to see if you can master the art of patience
without envying friends or feeling negative about your
parents.
-
Focus on the positive.
Writing down (or drawing) your frustrations in a journal is a
huge step toward dealing with them. But also try to write down
three things that you are grateful for each day (or illustrate or
write songs if you're more of an artist or composer).
-
Help your friends.
What if a friend is in a really tight spot? Even if you can't
think how to help, try just listening: Tell your friend you know
it must be hard and that you'll be there for support no
matter what. Most friends welcome the chance just to talk through
feelings and know that someone understands.
-
Deal with change, but don't burden yourself.
It's good to step in to help friends and family. But
it's also good to remind yourself that you're still young
and family money troubles are outside your control.
Finding Entertainment on the Cheap
Being creative helps you feel good about yourself at times when
life isn't going as you planned. And coming up with free ways
to have fun gives your creativity a chance to shine.
Some ways to stay entertained are obvious: Go to the park, ride
a bike, take a neighbor's dog for a walk, volunteer, or cook
dinner for your friends or family. But why stop there? Think of
this as a time to challenge your imagination:
-
Record a CD.
If you have a computer and microphone, all you need is your
talent.
-
Have a karaoke party.
The worse the singing, the better the fun.
-
Redecorate your room without spending a dime.
Use only stuff you have around the house or found items like
shells or old furniture. Discover new uses for old things, like
making pillows and lampshades out of old dresses.
-
Learn a new language.
Borrow a teach-yourself book or CD from the library.
-
Design your own clothes or jewelry.
Check out thrift stores for clothing you can cut up and
customize, or use found items to make jewelry.
-
Plan a surprise picnic for your friends.
Do the whole blanket and picnic basket bit, then find a park or
beach and take in the view (and the people watching).
-
Start your own ghost tour.
Check out the creepiest houses in your area and take friends on
"haunted house" tours so you can all make up stories
about what might have happened there. If you live in a historic
town you may be able to research town history and discover enough
interesting stories to put together a real tour.
-
Become a caricature artist.
If you're good at art, teach yourself how to draw
caricatures. Practice on your family, then when you get better,
rent yourself out for children's parties.
-
Host movie night.
Your local library often loans out movie projectors and movies
for free. Get your friends to bring popcorn, pick an upbeat or
funny movie, and enjoy!
Eventually the economy will turn around. When it does,
you'll be well equipped to deal with any other challenges and
difficulties life throws your way!
Reviewed by:
Michelle New, PhD
Date reviewed: August 2008
Note: All information is for educational purposes only. For specific medical advice,
diagnoses, and treatment, consult your doctor.
© 1995-2009 The Nemours Foundation/KidsHealth. All rights reserved.