The beginning of September only meant one thing growing up in my household: It was time to retrieve clothes out of layaway.

I remember how excited I was to actually pick up the clothes that I dreamed about all summer. My mother always bought my clothes a little too big to accommodate any summertime growth. Usually, I wore a lot of my sister's hand-me-downs, but, when I did get new clothes, it was always a big deal to me.

I wonder if stores still have layaway. I don't think my kids or many of their friends have ever heard of the term. But it's still a great concept. It's a bit novel these days to think of not having something until it's actually paid for, and yet that is what my parents did. I suspect many of their generation, as previous generations before them, thought the same way.

It is a rare day when my husband and I do not get at least one credit card application claiming that we've "already been pre-approved" in the mail.

It is hard to buy anything at a chain store without the clerk claiming that if I apply for the store's credit card, I can save 10 percent on that day's purchase. Don't consumers know that applying for so many offers hurts their credit rating?

I can see that if someone is desperate enough or not savvy enough, these so-called "deals" are very enticing. Many people can't wait to have the newest or hottest item. How easy the stores make it to be able to walk out with the coveted item, even if the person doesn't really own it and the credit card company does.

There have been a few times (my husband is questioning the word "few") when I have bought something relatively expensive and charged it in order to get miles or points. But if it's a piece of clothing or something of the like, chances are it sits in my closet until the bill has come and has been paid. I don't like the feeling of wearing something that I don't actually own outright.

Of course, there are some big purchases where that is not feasible. It is hard to keep a mortgage wrapped up in a closet until it is paid off. But the mortgage crisis is a perfect example of people's getting carried away with what they originally thought was easy credit. I don't think easy credit actually exists, and woe to the person who thinks it does.

Many of my generation have done the opposite of what our parents did. Instead of waiting and learning patience, we have become a generation of wanting it and getting it in the same day. What's so wrong with playing it safe? No, it's not as thrilling or as fun, but there is something to be said for a peaceful night's sleep.

I wonder how the current economy and mortgage crisis will affect our children's generation. Will the pendulum swing back to their grandparent's view of "pay as you go"?

It will be interesting to see what effect this current economic climate will have on the younger generation. Unfortunately, children and teens are the victims of their parent's miscalculations.

During the Great Depression, people were out of work and went hungry many times through no fault of their own. Misdeeds and speculation of a few led to epic proportions of suffering by many.

I believe today's financial crisis has also been brought on by a few, but a lot of hard-working people who pay their bills on time and don't bite off more than they can chew are being affected by the actions of some who decided to play fast and loose with the rules.

I am an eternal pessimist, but thankfully in this case I do have the belief that "that this too shall pass." The economy is cyclical, and we just happen to be in a downturn right now. Eventually, things will be on an upswing, and, when they do swing up, we will all be a little older and a little wiser. Fortunately, so will our children.

Laurie Dodic Steinberg of Highland Park is a full-time mother and volunteer. She is also a Community Voices volunteer columnist. Her e-mail address is ldsteinberg@aol.com.