Great Expectations Can Lead to Economic Disappointment

I hate it when Back to School advertising starts in July. It's like Christmas decorations in the stores before Halloween. Only it's worse. Christmas can be fun to look forward to. I did not like returning to school when I was a kid and it has not gotten better now that I have my own kids. Getting up early to get them out, the stress of homework, the reports of who was mean to whom all day. I hate it.

This year, the first Back to School sighting was not on a sale but on a bank's report of how much school supplies would cost. According to Huntington Bancshares, parents have to have $307 available in late summer for elementary pupils, $438 for middle school children and $669 for high school students. That's a pretty steep amount per child just to go to public school. It's hard to see how many families afford it.

Looking at the breakdown of the surprisingly high number brings the analysis back to earth. More than half the cost is a $228 "instrument rental fee." Music education is wonderful but cash strapped families are not agreeing to rent an instrument each year. There are also costs for backpacks (can be reused), lunchboxes (my kids carry plastic grocery bags), and in the middle school level, a cell phone. Deduct those costs and the numbers start to look far more reasonable.

It is all a matter of perception. It could be overinflated expectations that led to a recent poll conducted by Dr. Douglas E. Schoen, a Democratic strategist, showing that 61% of Americans believe that they will not live the American dream in their lifetime. When luxuries become necessities, it's easier to feel disappointed.

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Article Author: Justene Adamec

Justene practices law in downtown LA. To chat about this or other topics, IM Justene.

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  • 1 - DJRadiohead

    Jul 07, 2006 at 3:12 pm

    The culture of consumerism is having a profound impact on our society and many of those effects are not good. Excellent article, Justene.

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