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It is difficult enough as an adult to weather these tough economic times. But what about our kids? What should we be telling them about our finances? And what should we leave out?
With Christmas on the way and our economy struggling mental health experts advise the earlier you start talking the better.
Courtenay Chatman, a licensed social worker with Nationwide Children’s Hospital, tells NBC4 your kids are watching you.
"Kids pick up on things, they know they see, they can read through, you know when you’re trying to kind of hide things they know, they are very perceptive,” said Chatman.
So what should parents say? The bottom line is to stay calm. Do not overreact when your child asks about the family finances. Be honest about what is going on. Start by explaining the game plan in the event you lose your job or home. It gives children a sense of control. And finally, get them involved by letting them help you clip coupons and make a dinner menu.
Education is also a good tool. The Ohio State Treasurers offices set up www.yourmoneynowonline.com to help Ohioans with their finances. There is even an entire section dedicated with education kids about money.
But even then a child may find it difficulty to cope with financial changes. Parents should watch for sudden shifts in mood, changes in eating, and sleeping habits. Any concerns should be addressed with your child’s doctor as soon as possible.
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How To Talk To Your Kids In Tough Economic Times
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NBC4i.com
Published: October 20, 2008
Published: October 20, 2008
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