Audio Resource: Honey, Who Shrunk our Groceries?
Some questions to ask students prior to listening to this 5 minute clip:
- Why do food manufacturers find it easier to shrink the size of packages rather than increasing the price on an item?
- Why are consumers duped by food manufacturers downsizing packages?
- What are some of the explanations that food companies use to justify these smaller packages?
- What can consumers do about this phenomenon?
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.