How Much Should Your Kids Know?
By Robert Katz
Rising utility and automobile gasoline prices, college tuitions and emergency trips to the veterinarian are just a sampling of issues that put a strain on a family's budget. These expenses and more are causing many families to find themselves needing to periodically revise their budgets.
Our children overhear financial discussions and casual statements spoken about saving for the holidays or a vacation. They see prices on nearly every item in stores and malls and are aware that their parents work. Despite being aware that money is a part of life, many parents question how much financial information they should share with their children.
Whether your family is pinching pennies or fiscally sound, do you know if your child understands the concepts of saving and spending money? How much does your child know – or want to know – about your family's financial footing? Knowing when, where and how to approach financial topics with your children will alleviate your child's confusion, prevent misconceptions and ensure your family is all on the same financial page.
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