What self respecting parent would ever cut back on spending on their child before they cut back on spending for themselves?
AP: Are kids recession-proof? Perhaps not, but some consumer analysts call them “recession-resistant.” As Americans struggle through a tough economy, spending on kids is often the last thing to go, for reasons both practical and emotional.
“Some people will cut their medications before they’ll cut spending on the kids,” says Candace Corlett, president of the consulting firm WSL Strategic Retail. She says her group’s research shows 39 per cent of adults — parents and non-parents — plan to cut back on adult gifts this holiday season, so kids in their lives can have more.
Of course, there is a long-term risk to spending money on children. If a parent buys their kid toys and clothes, rather than socking it away for college, the kid will ultimately be screwed.
So kids, what would you prefer: dolls and video games now or, a decade hence, four years of promiscuous sex and drinking, punctuated by the occasional all night study-cram session? Trust us, kids, this is a no-brainer. Take the dolls.
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