Sat, Dec 13, 2008
The Straits Times
By Lim Pow Hong & Seow Kai Lun
SINGAPORE’S school-going children seem unaware of terms such as ‘recession’ or ‘economic downturn’.
To the average teenager, a budget meal costs $8 at a fast-food outlet and saving means putting aside money for a ‘cool’ $248 iPod nano. When they run out of cash, they just ask their parents for more.
The Straits Times polled 100 students - aged 13 to 19 - who received pocket money. Their responses showed most of them did not think the current recession here would affect their spending habits or that of their families.
The students who were polled received an average weekly allowance of $20 to $30 - in addition to extra funds for transport and mobile phone bills.
Almost 60 of those surveyed said they spent three quarters or more of their allowance. When their cash ran out, they asked for more, with as many as 86 per cent thinking that this was acceptable.
Xavier Ong, 14, gets $100 a week in addition to his transport and mobile phone expenses. However, he said that when he needs more money, he asks his parents.
Tiffany Li, 15, eats out at least four times a week, spending $6 to $8 on each meal. She dines at cafes and fast-food outlets rather than at school and eats only dinner at home because, as she puts it: ‘If we can afford it, why not?’
Dr Brian Lim, head of communication at SIM University, who does research on youth social behaviour and popular culture, said many young people ’spend money like there is no tomorrow’.
He came to this conclusion after organising a focus group discussion with 30 teenagers aged 18 and 19 in early January.
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