National and international news organizations are reporting that financial failures are rampant. These failures have begun to mightily affect young people. They see their parents losing jobs, and with devastating consequences. Homes nationwide are being foreclosed. Personal debt loads are high.

Lingering financial crises plague low- to high-income families. The $700 billion bailout was supposed to ease the financial crises. But rather than market conditions being better, they are worse, particularly in the automobile industry. As a result, young people live in fear of what is to happen to them. This is a very tough financial period for young people.

Margaret K. Scott, an Associated Press writer, wrote: "The economic crises have some people coming out of closets about their financial troubles, commiserating about 401(k) balances, mounting credit card debt and a stalled housing market." Financial failures are wreaking havoc on the emotional and physical well-being of so many people.

But opined U.S. writer Truman Capote (1928-1984): "Failure is the condiment that gives success its flavor." While current financial crises are blamed for the conditions that are causing unsettling financial situations, families now existing on the cusp of financial misery will regain prosperity. Financially hard times last periods ... but not forever.

Dr. William W. Purkey, a trustee of the International Alliance for Invitational Education, sent a memo to the organization's membership. It delved into the belief that "now" is a time to be greatly concerned about the emotional health and welfare of children due to financial stresses.

He noted four stresses on children due to the financial crises: "Parents being fearful, angry and worried about their future; teachers being frustrated and concerned over the loss of much of their retirement plans and savings; school systems eliminating teaching positions, reducing or foregoing services; and children venting their anger and fear on classmates."

Here are seven pointers to assist young people in coping with financial crises by using prisms to illustrate cyclical market conditions and realities:

1. Teach economic lessons that reflect financial unraveling and prosperity.

2. Focus classes on financial management and adaptations to market flows.

3. Discuss ripple effects where an industry might impact overall market conditions.

4. Show how global markets create financial meltdowns and resulting financial crises.

5. Engage in discussions on a financial bailout. Who should benefit from one? A government-sponsored bailout is a novel concept to many people, young and senior age.

6. Clarify the role and fiscal positioning of governments during financial crises?

7. Illustrate the wisdom of investing or not investing during financial crises.

Discussions on financial crises must reduce stress levels of young people. Parents, agencies and educators must take charge. Purkey reasons: "More than ever, there is a moral calling to work to create, maintain and enhance truly inviting schools." Young people are too heavily impacted by the lingering financial crises.

Reach T&D columnist Howard D. Hill, Ph.D., via www.educationconsultant@sc.rr.com

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