| October
27, 2008
What To Tell Kids About Money Trouble
Interview
with Beth Grosshans, PhD, author of
Beyond Time Out
| Mike
Carruthers:
The uncertain economy is causing financial stress
for many families and requiring changes in spending habits. Which brings up the
question - what do you tell the kids?
Beth
Grosshans PhD:
If your kids are under the age of five or so, I
don't think that any direct conversation is necessary. And in fact I think that
some heightened discretion about what you're saying within their earshot is probably
advisable. Psychologist
Dr. Beth Grosshans, author of the book Beyond
Time Out… Now
if you've got kids from the ages of about six to eleven I do think that simple
concrete conversation is going to be helpful to them. Parents need to keep it
simple; they need to keep it without too much drama of course. For
teenagers Dr. Grosshans says straight talk about financial changes in the household
is appropriate. Actually
teens respond very well to it. Invite them to really contribute their own thoughts
and reactions. You know whenever you call upon people's altruistic natures (even
teenagers) they're often very able - even eager to sacrifice for the good of the
team. At times
like this parents often feel the need to apologize to their kids. "We're
not going to be able to have as many designer jeans, we may have to shop at the
thrift store, I'm so sorry honey." But I don't think that those kinds of
apologies are necessary and certainly apologies at a time like this can only fuel
a child's sense of entitlement and a sense of, "Why are you doing this to
me?"
At
somethingyoushouldknow.net
I'm Mike Carruthers and that's Something You Should Know.
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