In the book of Howard P. Chudacoff, ” Children at Play”, used quotation that”Children have become a Market-often referred to as ‘subteens; by people who apparently see them mainly as avid little consumers and can’t wait for them become bigger, teenage consumers.”(176). This statement is very true that Children are Big hands in economic, and they have money power now days. Therefore there are many of researches about their economic characteristic and news and article to help parents to teach kids how to handle Money.
From the book, preteen money spending rate 400% increase from 1989 to 2002 (176). Children’s consuming patterns were simple, but since their expenditures has been immensely increased, their consuming patterns have been diversifying. Most of their money spending were candy, snacks, or beverage however,now, toys are first place for both boys and girls. And also there are consuming pattern difference between boys and girls. “-Boys are also more likely to spend their money on video games and collecting cards. -Girls are more likely to use their money to buy clothing. -Younger kids prefer educational games or toys that tap into their natural creativity and imagination.” (marketingchart.com). Video games are conspicuously increased as IT industry is developed.
As children’s money spending is increasing, their parents’ worries about children’s money spending habit are also getting bigger. Maybe these common worries make them find article like todays. There is news article”Tips for teaching kids about money” from news Channel 5, Florida. It teaches and advices parents tips for three age group of kids. It separates ages from ‘preschool’, ‘K-8’ to ‘high school and college’. For few example from one of each age group in the articles, preschool Kids should not be rewarded or paid for everything they do. You may give money for helping some chores, but it shouldn’t be rewarded every time. For k-8, help them buy few shares of company stocks that they like, Nintendo or coca-cola. For high school and college, introduce them about credit card and how they handle it. We may find more tips from this site, and more site.