Are You Talking To Your Kids About The Financial Crisis?

The one bright side to our country’s current economic meltdown is that it is forcing parents to sit down and discuss money matters with their kids.

Have you had the talk with your kids yet?

You might have if you recently cancelled a planned family vacation in order to pay the mortgage or if you disconnected the cable in order to pay for food.

Our nation’s current economic crisis has forced millions of parents from coast-to-coast to look for ways to cut household costs and in most cases those decisions impact even the youngest members of the family.

For example, if your child is used to having three juices to choose from on a daily basis and now all you can offer him is water or if he was used to being driven to soccer practice each day and now you are forcing him to ride his bike there, he’s going to want to know what’s going on.

Child psychologists say it’s important to talk to your children about the current state of our economy and address the financial decisions you are making that impact them, but in a way that won’t frighten or panic kids.

Experts also note that if you and your spouse speak openly about your financial woes in front of your children (either consciously or unconsciously) they might sense your stress and become worried.

Read more at Families

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