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The fourth- and fifth-graders at Hiawatha Community Elementary School in Minneapolis understand the difference between recess and recession. Ask them to define the latter and faces don't light up as they do on the playground. Words such as crisis, banks, jobs and housing come up. With so many financial experts in denial or the courtroom, it was time to hear a simpler message. What does a 10- or 11-year-old know about saving money and cutting back?
Enough to understand economic lessons so basic that many grownups have forgotten them.
In a free-flowing discussion about families saving money and cutting spending in a recession, they offered up wisdom sage enough for Suze Orman or Jim Cramer: Know the difference between wants and needs. If you don't have the money, don't buy something. If you buy something, make it last...
Recession 101: Are you smarter than a fifth-grader?
Enough to understand economic lessons so basic that many grownups have forgotten them.
In a free-flowing discussion about families saving money and cutting spending in a recession, they offered up wisdom sage enough for Suze Orman or Jim Cramer: Know the difference between wants and needs. If you don't have the money, don't buy something. If you buy something, make it last...
Recession 101: Are you smarter than a fifth-grader?