by Jeanine Gilbert

Created on: June 17, 2009

How to Talk To Children Regarding Financial Problems

Being honest with children is one thing; however, they do not need to know all the gory details. Depending on their ages determines how much is too much! Everyone has financial distress sometimes in his or her life, and some more than others do. This all depends on choices that we pursue in our lives. Life is like a Roulette wheel not knowing where it will land giving you wealth and power or put you in the land of poverty and despair.

If your children are very young, and they want something, either tell them, I cannot afford it this week, and maybe if you are good, we can get it soon. As they get older like ten, you can just flat out tell them, you cannot afford it. You wish you could, but maybe in time things will get better.

When your kids make their teens they are old and wise enough to understand how the world works and can get a job to compensate the lack of funds. In fact, many teens do help their parents with paying a small amount for rent. It is good for them to know that they have to work for something in order to get it. That life is not an easy road, and you must work hard to achieve the good things in life. Children believe that material things be handed down to them on a silver platter. They need to learn that the wishes they wish for, and the dreams that they dream are only ideas that need a plan of action, and lots of work. If they want something bad, enough they will work hard to make their dreams come true.

When kids are, little they are just worried about NOW. Why they cannot have a candy bar, or go to MacDonald's, or to the movies. You can improvise and make homemade burgers and fries and watch a DVD with the family. Instead of spending lots of money Camping for the weekend, save money and camp in your backyard or in the living room. As kids get older, they require needs that are more expensive; however, if they get a part time job the extra money can help.

During this Recession, parents are losing jobs, and money is getting harder to stay in your pockets. Everyone is struggling just to make ends meet. Children have to learn to save money as a member of the family, to work as a team. If they would turn off lights, turn off water instead of letting it drip, this would help tremendously.

Children know when their parents are having problems, they can sense it. Their tender ears can hear, and their wide eyes can see what's happening around them. They will know a lie if they hear one. You need to be upfront, but only give them enough information that they ask for and no more. They do not need to know you're going through bankruptcy. Tell in time things will be better, let us all have faith!

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