If you’re trying to explain to your kids why Santa Claus isn’t going to be leaving as many presents under the Christmas tree this year, here’s an amusing explanation of the credit crunch for kids.
The piece is written by Tim Harford, author of The Undercover Economist (a good book by the way, I must get round to reviewing it at some point).
All seemed lost until Santa Claus and his helpers, men with implausible fairy-tale names such as Darling and Bernanke, began handing out presents. It was only in January that Consumerella’s credit card statement arrived and she discovered that Santa Claus had paid for the gifts by taking out a loan in her name. They all lived miserably ever after. The End.
Have you had to try and explain the credit crunch or something similar to your kids? With increasing debts and job losses, it must be a subject that’s coming up more and more regularly for parents to explain to their children, so I’d be interested in hearing any experiences you have had. Let us know in the comments below.