When it comes to kids, we have a tendency to downplay the things that are hard in life. It’s difficult to open up to them about sickness, death, or divorce. And perhaps nothing is harder than being honest about money problems.
The trouble is, kids notice everything. Whatever you think you’re hiding from them, they probably know—and they’re processing it by themselves.
As parents, teachers, and mentors, it’s important for us to show kids how to talk about financial problems. Families that face money trouble should discuss the issue, its impacts, and its solutions. It’s an opportunity for the family to grow closer, and for kids to learn the basics of money management.
There are other opportunities in daily life to talk about money: as you grocery shop, when you get a raise, or when you practice charitable giving. Make it a regular practice to weave these conversations into your routines. Learn more in our Instaread on Robert T. Kiyosaki’s Why “A” Students Work for “C” Students and “B” Students Work for the Government.
