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  #1  
October 12th, 2011, 06:31 AM
Dizzi's Avatar Mega Super Mommy
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A conversation I had with one of my brothers and his wife the other day got me thinking.. A lot of people think that the family finances are just that, for the family.. in which case everyone in the family, including the children, are privy to information such as why we can't buy this or that or we're saving money for this or that or even the bills are running about this much this month. While other families leave the children out of financial discussions completely (at least until they're well into their teen years, some not even then). Also with all of the discussions about teaching our children how to budget, etc. I figured this might be a good topic



How open are you with your children (or will you be for those of you with younger children) about things like finances?

Were your parents open with you about them growing up or did they keep stuff like that to themselves?

Do you wish they'd have done otherwise?
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  #2  
October 12th, 2011, 09:29 AM
MidgeMadge's Avatar Queen Turd. Bow down.
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I don't really talk to Alexis about bills or anything like that, I honestly don't think she'd "get it" at the age she is. I mean, she knows we PAY bills and have bills, and that's why her papa works... to pay things. THAT she knows. She also knows she can't have everything she wants, or asks for.. we have to have the $$ for it. And even if we DO have the $$ at the time, she still can't always just get what she wants. She knows all of that. But, that's as specific as we get.
She also knows when we're saving for BIG things (i.e. you can't have this right now.. your grandparents are coming to town this week, we need to save extra $$ for that), stuff like that. She knows money doesn't grow from trees (dangit) and that Chris works so we have it. So, I guess we DO discuss it.. but nothing terribly more specific than the above.

My parents were about the same with me, and I think that's fine.
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  #3  
October 12th, 2011, 11:52 AM
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I will explain this to Audrey when she can understand, and I'll explain why she can't have a expensive toy if we don't have the money at the time, also so she will understand to take good care of her toys because we spent money on them.. mostly because my stepkids got tons of expensive toys and they just think money is nothing and daddy needs to buy everything and they even tell him to "give mommy money"(their mom) and they would have a toy one day before its totally broke ..
I always understood my parents money situation..
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  #4  
October 12th, 2011, 12:24 PM
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I talk to Alyssa about some things. It depends. I am honest, but still do not give her too much.
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  #5  
October 12th, 2011, 01:37 PM
TheOnlyPink's Avatar .... In a house of blue!
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ditto to erika. Jake knows that we have bills and that we need money for our house, food, light etc. and he knows that steve works and gets money for doing that. he gets it, and when we tell him he cant have something because it costs too much money he understands that other things have to come first.

I'm trying to get him to understand about saving atm, but i think he needs to understand about amounts of money vs the cost of an item. To him money is money!
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  #6  
October 12th, 2011, 01:52 PM
somo_chickenlady's Avatar Mega Super Mommy
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How open are you with your children (or will you be for those of you with younger children) about things like finances? We are open with Greyson. Especially now that we are pretty much dead broke, we explain to him that we can't buy such and such b/c we don't have a lot of money, and that we need to save or be careful with how much we use such and such b/c it costs money to buy more, etc. We don't really talk with him much about bills, though. He knows we don't have a lot of money, but we don't go into detail with him about it.

We are also trying to get him to be money savvy, and to budget his allowance and be thrifty. We make sure he is really sure about something he wants to buy, and understands how much he will have left, and he's good about saving up for something big. Stuff like that.


Were your parents open with you about them growing up or did they keep stuff like that to themselves? No, my parents never talked to me about it.

Do you wish they'd have done otherwise? I don't know. I wish I had learned to budget more when I was younger. I was terrible about it and just spent all my money as soon as I had it. Bills were really hard for me for a long time.
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  #7  
October 12th, 2011, 06:31 PM
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We're pretty open. Growing up I was aware of my parents finances, mostly because there was a period of time when debt collectors were constantly ringing. My FIL does our taxes so there's really no "secrets" about our finances here.

I'm sure we'll talk about finances with our girls once they're at an age where they'll understand it.
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  #8  
October 12th, 2011, 08:39 PM
Dizzi's Avatar Mega Super Mommy
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When we were growing up my dad NEVER talked to us about money. He was a single parent for years and there were a lot of us kids but we never really knew about money in any sense other than "It doesn't grow on trees" lol If we wanted something or asked for money it was either yes or no and it would be left at that.

I do wish my dad would have discussed things with us more openly just because, like Kara, I never really learned to budget and stuff until I was out on my own. If he gave me money, I spent it. If I wanted more, I asked. It didn't really occur to me that one day that was going to stop lol

My kids know we have bills, they know daddy works to pay those bills and that he's our only source of income - but we haven't really gone into any sort of details about it with them.

They don't get an allowance yet since they don't do daily chores but in the next year or so Mehkaelie will start earning an allowance for her chores and once Cole gets a little older we'll start him with an allowance as well and I think then is when we'll start discussing things like budgeting and such.

They do really well with birthday/Christmas money, though. They understand that this costs X and I only have Y so if I buy it then I can't get Z, too. They've grown to LOVE the Dollar Tree haha
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  #9  
October 12th, 2011, 10:49 PM
acupofjoe's Avatar Proud mama of three!
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We don't talk to the kids about bills.

Quote:
Originally Posted by MidgeMadge View Post
I don't really talk to Alexis about bills or anything like that, I honestly don't think she'd "get it" at the age she is. I mean, she knows we PAY bills and have bills, and that's why her papa works... to pay things. THAT she knows. She also knows she can't have everything she wants, or asks for.. we have to have the $$ for it. And even if we DO have the $$ at the time, she still can't always just get what she wants. She knows all of that. But, that's as specific as we get.
She also knows when we're saving for BIG things (i.e. you can't have this right now.. your grandparents are coming to town this week, we need to save extra $$ for that), stuff like that. She knows money doesn't grow from trees (dangit) and that Chris works so we have it. So, I guess we DO discuss it.. but nothing terribly more specific than the above.

My parents were about the same with me, and I think that's fine.
This! Pretty much how we are but we don't tell them about bills like the amount or if money is tight that month etc.
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  #10  
October 13th, 2011, 12:30 PM
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we are pretty open about it....if the girls ask for something and we cant afford it cause of bills i will let them know how it is....

i cant ever remember my parents talking to me much about bills when i was younger...as a teenager yes...but not as young as elyse and raianna...but i want them to know that money isn't just there it has to be earned and there are things you have to do like pay bills before you can have fun
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