Kids have ideas to stretch family budget in hard times

It's a silent collusion.

Parents who are facing the prospect of layoffs, salary cuts or health-care squeezes may not want to share that information with their children.

Youngsters may have picked up on the fear and nervousness in the household but are afraid to express their anxiety about the economic downturn.

Thus the family avoids starting grown-up conversations about family finances and how to stretch money to make ends meet during these perilous times.

But by including your children in discussions about household finances, you might discover that they have some suggestions.

In that vein, I recently asked students in a Kansas City-area high school economics class that I regularly visit as a Junior Achievement volunteer to share some ideas on how they'd help their families manage the household budget better during this recession.

Some of the Raytown South High School students said they'd already opted to cut back on entertainment and clothing expenses. Others said they were not driving as much, to save on gasoline, and several said they were actively looking for jobs.

"I am trying to limit things I want to buy instead of going crazy and buying anything that's appealing," said Margo Murray.

Anthony Ward said he also was trying to watch his spending, whether it's $10 or 10 cents.

For Racheal Ward, the focus is on landing a higher-paying job. "Along with the job I would open a bank account, and after paying taxes I would take a portion of my check and put that money into a savings account," she said.

Jessica Evans said using a debit card had helped her manage her spending because she could spend only what she had in her checking account. Tiffany Hylton is working on budgeting, and Nicole Lynch is baby-sitting and doing other things to make a few extra dollars.

"With the money that I get, I try to save it in case something comes up and I really need it," Lynch said. "I am trying to get a new job that makes a little more money, so I can help my parents out with things that need to be bought around the house and try to be a little more independent."

Several students said that these past few months had prompted them to think more about wants and needs.

"I have not been complaining about the types of clothes I am wearing, and about my cell phone and how much I want a new one," Jessica Gerstner said.

"I have learned to do without things such as candy, pop, some makeup products, new shoes and new clothes, because I know that those are some of the things that I don't have to have right now.

"I have enough clothes to cover my back for every day of the week and a pair of shoes to cover my feet, and food to fill my stomach."

Don't underestimate the ability of young minds to problem-solve.

When it comes to money, many do get it, and they're more than willing to drive less, cut back on trips to the mall, eliminate the nightly fast-food runs and make other sacrifices to help the family deal with daily economic pressures.

Contact Steve Rosen at or write to him at The Kansas City Star, 1729 Grand Blvd., Kansas City, MO 64108.