Blog Post: Should you discuss economic problems with your children?

 When I was about 17, I had the unique opportunity to observe my Father, who was in the transportation industry, deal with the economic problems of the late 70’s.  Interest rates for loans could be as high as 20% and this took a toll on budgets and employment.  I watched my father struggle with layoffs and making things work when money was tight. He taught me about budgeting and discussed how/why we would be cutting back at home, on gifts for the holidays etc. 

 Many people are struggling today and you have the unique opportunity to include your children in the process.  I have kept my 14 year old in the loop since this mess started.  I have taken the time to explain what is going on and how he can help us.  This process will help your child prepare for these events if they happen again in the future.

 If you need some guidance on how to approach these subjects with your children, please contact me though this post.