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Back to School Countdown Day 3: Start Talking

Posted by on Aug. 8, 2012 at 12:00 AM
  • 112 Replies

Today's challenge is all about getting the conversation started with your kids. Do they realize how much things cost? Do they consider what things cost they ask for new shin pads or to go out with their friends after school?

Talk about how things add up and set a plan for the year. Let them know what to expect. What do your kids know about your family's finances?


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by on Aug. 8, 2012 at 12:00 AM
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by on Aug. 8, 2012 at 12:39 AM
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I tell my son what things cost and sometimes how many hours his dad had to work to pay for it. He doesn't know how much our annually salary is but he'll be able to figure that out when he's older.
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by on Aug. 8, 2012 at 3:40 AM
Ds is 4 so we explain things to him as much as we can he knows things aren't free and you have to pay for it with money and you have to work hard to earn money.
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by Cheryl on Aug. 8, 2012 at 6:20 AM

My dd is 10 and I tell her all the time how much things cost.I also was told yrs ago to figure out how many hours you had to work to pay for anything that will determine if you really want to buy that or not.

by on Aug. 8, 2012 at 7:46 AM
I always talk to ds about how much things cost
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by on Aug. 8, 2012 at 7:48 AM
He'll sit with me as I clip coupons and look at sales ads. Sometimes when we're food shopping I'll stop and look at the prices with him.
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by Mary on Aug. 8, 2012 at 7:51 AM

They don't know how much we make, but they do know that things cost money.  We compare prices with them when we're shopping to try to find the better deal.

by Bronze Member on Aug. 8, 2012 at 9:06 AM
Not yet, once they are a tad older I will.
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by Gold Member on Aug. 8, 2012 at 9:12 AM
1 mom liked this

 Our kids that are still home (ages 12, 13, and 15) are involved in most of the family's finances.   When I say "I don't have the money," they know I mean it and don't use it as an excuse.  They understand why savings are so important and they know they'll not get things handed to them for free.

by Nikki on Aug. 8, 2012 at 10:42 AM

He is not yet 4 so he doesn't get it yet.

by Member on Aug. 8, 2012 at 11:53 AM
I have always been pretty open on our family finances. They understand most of the time, but sometimes they don't quite get how it affects the whole picture. My youngest dd is in orchestra ($20 violin rental monthly), travel soccer ($2000 in fees yearly, travel, hotels and uniforms and other equipment not included), Academic Games ($200 yearly for tournament fees and the hotel stay for the state tournament). Then there is her social life, she went to 27 birthday parties last school year, so while she realizes the amounts of money we spend, she doesn't always see where or how it all fits together with the rest of the budget.
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