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Talking to Your Kids About the Recession

If you live in the same house with any children over the age of three, chances are that they know something is not right with the economy.  We may think that our kids don't pay attention to what we talk about or listen to, but they most defintely do.

If you haven't yet talked to your children about the financial state of the United States, it's time to seriously condsider doing so.  I'm certainly not suggesting that you tell your children all of the details about what's going on, but it's important to them to know something. 

I grew up during the Cold War, and I can distinctly remember my dad watching the news each night. I remember seeing President Reagan talk about Russia. I didn't know what was going on, but what I did know concerned me. I could tell it concerned my dad too, but we never talked about it. 

As a parent, I feel that it's important to talk to my children about things that may concern them, in terms that they can understand. And in the case of a economic recession, I think that it's actually a great opportunity to teach my kids some important lessons about money. 

It's completely up to you to decide if and how you'll talk to your children about the current recession. Without scaring them, it's good to let them know what's going on and to even involve them in helping your family to save some money. 

Here's a few ideas to get your started talking about the recession:

  • Explain to your children that times are difficult right now and that you will make sure that they always have the things they need - but that your family may have to give up some of the things they like to do.
  • Ask your children what they have heard about the recession and what they think about it.
  • If your children are a little older, ask them to help you come up with ideas to help your family save money. You might be surprised with the ideas they come up with!
  • This is a wonderful opportunity to talk to your children about the importance of saving money and living within their means as they get older.   
However you decide to handle the talking about the recession with your childen, be available to talk to them if they have questions or concerns.
In these harsh economic times, it is so important for parents and children to understand the need to keep unnecessary spending to a minimum. Ladies, if you can learn how to cook, sew, use a tool here and there...then you've got what it takes to get through this recession. You don't need to takes classes for these things, but just being able to get your budget to stretch will help in every aspect of your life. Laura
Lena F.
Your family is so fortunate to have you be willing to teach them about the recession in ways that are appropriate for them. Kids are so saavy these days and communicating with them about economic affairs can reassure them and set them free to keep dreaming about their life ahead of them instead of worrying about what might happen. Good for you!
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