Word: scrimp
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Dates: during 1980-1989
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...their children register for the new school year, most parents, like Kenner's, are willing to scrimp and sacrifice. But they are increasingly outraged at the platinum price tags. For nine years, hikes in tuition and other fees have averaged roughly twice the rate of inflation, boosting bills at elite private schools like Sarah Lawrence and Princeton to the edge of the $20,000-a-year mark. And the spiral shows no sign of stopping. By 2005, according to the investment firm Paine Webber, the price of a college education is likely to climb to $62,894 annually...
...what will I most remember about Harvard many years hence? Probably the walks along the Charles with Jenny, the way we had to scrape and scrimp after Dad cut us off and the look on her face when she died...oh, wait, that wasn't me, it was Ryan O'Neal. Which just goes to show you, art imitates life and sometimes it's vice versa. Other times, it's the other way around. Go figure...
...celebration--the event that is supposed to give all students a chance to participate--is prohibitively expensive. Students with wealthy families will be able to afford the tickets and social accessories needed to attend the ball, while less well-off students will either have to decline their invitations or scrimp and save to accept them...
Sacrifice and lowered expectations do not come naturally to Baby Boomers. "You deserve a break today," proclaimed a famous McDonald's commercial, and the Baby Boomers believed it. The Depression-era work-and-scrimp ethic that drove their parents was not passed along. Inflation is at least partly to blame, says MONEY Managing Editor Landon Jones, author of Great Expectations: America and the Baby Boom Generation (Coward, McCann & Geoghegan). Spiraling costs made savings seem futile and fostered a sensibility of buy now, pay later...
...small firms scrimp every way possible. For example, they avoid long, self-indulgent recording sessions. Says Folk Singer John Stewart: "Before I step into the studio, I know every note I'm going to play." Husker Du, a trio on California's SST label, recorded a two-disk punk masterpiece in just 45 hours. Artists on small labels also go without such freebies as drinks and buffets, which have become staples at some music firms. Refreshments at Twin/ Tone Records in Minneapolis, for example, are limited to an occasional twelve- pack of beer...