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Back to School Countdown Day 3: Start Talking

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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
Replies (61-70):
by New Member on Aug. 8, 2012 at 7:56 PM
This is something I have been talking to DD about for several months.
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by on Aug. 8, 2012 at 7:58 PM
We talk money with the boys. They have their own budget to follow, just like dad and mom. Dd is still a little young for that, you give her a dollar and she gives it to her brothers.
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by on Aug. 8, 2012 at 7:59 PM

My son is 16 & well aware for some time now that things he wants cost money & alot of it.He doesn't have a "job" yet, he cuts our grass & watches the neighbors dog when they go outta town :)

by Member on Aug. 8, 2012 at 8:02 PM

 We talk to the kids about how things cost. We also talk about getting better deals or shopping for something at different stores because it costs less. They also compare when they have some money to buy something with.

by Member on Aug. 8, 2012 at 8:12 PM

We talk all the time about how much things cost.  And with me being off work for the last 3 months we also talk about how we have to budget for a while. 

by on Aug. 8, 2012 at 8:40 PM
we just say we dont have alot of money right now
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by Member on Aug. 8, 2012 at 8:46 PM

Mine is still kind of young to understand, we explain things cost money, and give them things to do to help them have money to get little things extra that they want (They feel special being able to say they bought it themselves) As they get older I will teach them more, as of right now my oldest is only 4

by Member on Aug. 8, 2012 at 9:39 PM

My boys are  5 and 6 so they don't really understand about the cost of things and family finances...they do know they have to wait until payday for most things and that they usually have to wait until Birthdays/Christmas for any toys.  I don't think my kids need to worry about how much money we have or don't have they just need to be kids.  

by New Member on Aug. 8, 2012 at 9:43 PM

Our son knows that I do not work and that all of the money comes from Daddy's job.  He also knows that some things are expensive and we need to save for them.  For example, if he is good sometimes he earns a small toy or treat from Wal-Mart.  If he picks something more expensive, I will give him the choice of something else or a gift card for what I was willing to spend that he can save for next time he earns a treat.

by on Aug. 8, 2012 at 10:54 PM

My children know but at 5 and 2 I don't think thye fully understand yet the true value of money.

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