The child economy

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Children are a muscular economic force because they are a strong spending and saving power. During school time, shops especially clothswear stores, supermarkets, confectionaries and newsagents, become animated.

There is an almost daily "spending spree" demanded by kids which is not found in any time of the year. Children need to be fed, clothed, and buy stationary continually giving the economy a robust sense.

At school time, there is what can be called the development of a seasonal 'pocket money economy' despite the fact kids receive pocket money from their parents on a daily basis.

Somehow during school time, this economy becomes more regular , it is small, deregulated, informal, between parents and kids but somehow it is accumulative and sustained.

Over the years what has been interesting is not the spending power generated by this pocket money economy, although this is important, to over-ride bottlenecks and possible recessions in certain economic sectors.

What is interesting, and this has become generalized, and that is a significant number of kids are involved in a saving process. They either have a piggy bank or savings account which they put into from the allowances given to them daily.

Over the years such meager savings have continually hacked away at the popular myth that pocket money is continually spent on fizzy drinks, crisps, chocolate and comics and teenage magazines.

While this is no doubt true because these tend to serve as the stable diet of kids, it was increasingly found that these children, and probably they are the same, take it upon themselves to "save" daily in the interest of buying something bigger and more expensive.

And these are not necessarily for peripheral things like an expensive toy or a doll house but in some cases saving for a needed jacket to keep the girl or boy warm in winter.

Contrary to popular myths kids have not, maybe not at that age, yet swallowed into the alluring consumer economy but adopt a responsible attitude towards saving, and feeling with their parents.

And all this arising from the pocket economy.

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gail641 5 years ago from Mason City

I think that kids are a strong enconomic force. Very interesting. They do help the economy-they do need a lot of things.

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