Kids are scared. They hear it at school, at home, in the tone of your voice, and on TV. These are some tough economic times. People are stressed and worried. Even though your main focus may be on paying the bills, keeping your job, and tightening the budget, you still have kids that need you. They need you to talk to them about how all of this money stuff is going to affect them and their life. Talking with your kids about money isn't easy, but it is important. Depending on the age of the child, here are some tips that you might use to facilitate that discussion.
- Ask your child what they have heard about money
- Reassure them that they are loved, safe, and that their needs will be met
- Start the discussion when you are calm
- Teach them that there is a difference between what they need and what they want
- Brainstorm a list of inexpensive or free ways that you can still have fun
- Get them involved in finding ways to save money
- Talk about how they can budget their own money
- Keep the lines of communication open
Once you have started down this path of communication, don't let it end with just one "talk". Use everyday moments to help your children learn about money. Let them carry a calculator and keep a total at the grocery store, or you might let them figure out which product is the best buy.
Budget and Math
Use this as an opportunity to teach them about credit, checking accounts, and budgets. Set up a weekly meeting with your children and let them see you balance the check book or pay the bills. This can also be a way for them to learn the importance of everyday math skills!
Reduce, Recycle, Reuse
At home, this is a great time to teach the new "Three R's", reduce, recycle, reuse. Get their help in conserving water by turning off the faucet while they brush. Let them make signs reminding everyone to turn off the lights when they aren't needed. Get your toddlers involved by keeping a box they can toss papers in that are going to be recycled. Let the kids personalize their own cup and reuse it for drinks throughout the day.
Keep Family Values in the Forefront
Use this difficult time to teach your children and help your family grow. The most important thing you can do as a parent is listen to your children. Many children fear becoming homeless whether they voice that fear or not. Don't scare your children giving them more information than is appropriate for their age. However, sometimes they fill in the lack of factual information from you with their imaginations. Don't let your financial stress take over your life to the extent that you lose your ability to focus on your family.
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