I couldn’t help but follow up to Michael’s last post about the generational impacts of recessions. As personal finance bloggers we get a variety of emails that inspire with different topics. I just got one that linked quite appropriately by suggesting that teens are being impacted by the recession by downloading an extremely popular iPhone app that allows for unlimited free texting.

I personally find this ludicrous. I feel so sorry for teens that must concern themselves with limited texting.

I recall growing up with airtime of up to ten minutes once or twice a week from a rotary dial phone with a long cord next to the front door. I was could make only local calls up to ten minutes a day if I was on good behavior.

I think that kids growing up today with cell phones and non-stop texting will have a difficult time comprehending the finite resources that truly exist in this world, and how spoiled indeed they are to grow up in any American family.

Readers: How do you think gen-text will react to the recession?

Best,

Miel

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3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

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