I found this interesting article that talks about what you should say to your kids about the economic crisis.  It can be an interesting time for parents.  While you are feeling pretty pessimistic about our economy, you don’t want to burden the kids with worries.  On the other hand you want to be honest.  So how do balance honesty and optimism?

While I do believe that you should never burden children with adult problems, kids are smart and perceptive little devils.  They often know more than we expect them to.  If your little ones are showing concerns about the economy then there are ways to ease those fears while still being honest.

Try not to say “We can’t afford that”.  Even in good economic times we should avoid those words.  They aren’t accurate for most scenarios, especially ones that your kids will be involved in.  A more truthful way to say it is “We choose to spend our money on other things”.   Not only is that true, it also conveys the point that choices have consequences, and that we have control over our situation.  If the child pushes you can explain that buying a new car means that you wouldn’t have enough money left over to pay the electric bill.  And what fun is having a new car in the drive way if you don’t have power.

I was at a store one time and there was a candy machine.  A little kid wanted a quarter to put into the machine and the dad said, “No, we can’t affor… We don’t spend our money on things like that.”  I had to smile.  I wanted to go over and commend him, but I thought that would be weird.

Have them help with frugality.  Kids love to be involved.  Tell them you want to plan a family fun night but that you don’t wan to spend any money.  I bet the kids can come up with a half dozen things to do.  I know my daughter can.  We would be dressed up in fancy clothes having a tea party in the backyard, complete with home made cookies.  This is a great time to let them see that you don’t have to spend money to have fun.  Plus, it lets them feel in control of the situation.  They dont’ have to sit back and hope for the best, they can be involved in getting the family through this tough time.

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