How to Talk to Kids About the Economy

Filed under: Work Life

piggy bankMy princess loving three-year-old only recently learned that Disney World is an actual destination. "You can GO there?" she asked me incredulously ... and maybe just a little accusingly too, as in then why haven't you taken me there yet?

I would love to, I explained to her. Maybe even next winter if we're careful with our spending. Very careful.

Kids, as a rule, shouldn't hear about their parents' money worries. Those are adult problems, after all. But even young children are feeling the bite of a bad economy when the first things parents cut from the budget is the "fun stuff."

Just because we aren't going to burden our kids with stress and worry doesn't mean we can't teach them a few things about personal finance. And if you're tightening your family's financial belt, now might be the perfect time. Over at wikiHow, they've got an interview with Personal Finance for Dummies author Eric Tyson, where he shares twelve tips for teaching kids about money.

After all, when this economy is finally patched up and set right, it's those same kids we'll be handing it off to. It might be good for them to know how to handle it when we do.

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AdviceMama Says:
Start by teaching him that it is safe to do so.