I have always been honest with my children about our family finances. My mother never discussed paying bills, how to save money, how to spend wisely or even how to balance a checkbook. I learned the hard way, on my own, with many mistakes. I want my sons to be responsible, and they are learning, with their own savings accounts, and they manage it themselves. They were not spoiled as youngsters, and our honesty about the household funds has taught them that they don't have to have everything they see on TV or in the store and to think about purchases beforehand. I hope it makes them into responsible, hard-working adults, not dependent, grown "children".
Trish - 14 years ago
Yes I share this information with my kids. It teaches them that money doesn't grow on trees. If they ask I tell them. No need to hide the truth because sugar coating life for them is not going to teach them. They can learn from our mistakes with money and if they don't want to listen and learn that is there on fault. And they can learn the hard way like most of us.
But I have found that it has made them more responsible with their own money. Because if they want something that cost a lot and I tell them why I can't afford it they understand and save their own money.
Just my opinion.
I have always been honest with my children about our family finances. My mother never discussed paying bills, how to save money, how to spend wisely or even how to balance a checkbook. I learned the hard way, on my own, with many mistakes. I want my sons to be responsible, and they are learning, with their own savings accounts, and they manage it themselves. They were not spoiled as youngsters, and our honesty about the household funds has taught them that they don't have to have everything they see on TV or in the store and to think about purchases beforehand. I hope it makes them into responsible, hard-working adults, not dependent, grown "children".
Yes I share this information with my kids. It teaches them that money doesn't grow on trees. If they ask I tell them. No need to hide the truth because sugar coating life for them is not going to teach them. They can learn from our mistakes with money and if they don't want to listen and learn that is there on fault. And they can learn the hard way like most of us.
But I have found that it has made them more responsible with their own money. Because if they want something that cost a lot and I tell them why I can't afford it they understand and save their own money.
Just my opinion.