Friday, October 16, 2009

Informing Your Children About Your Debt

Personal Note: One thing I’ve realized is the more we express our thoughts, the more we are able to grasp the whole essence of the activity(ies) we are involved in, which then helps us in making more perceptive decisions. In matters relating to family and personal finance, the act of thought-expression becomes much more valuable when those we share our thoughts with include our loved ones – spouses, children, etc.: In the process of engaging our children, wards, etc. we further develop ourselves, while we make available to them priceless information in their formative years.
In this short but very helpful article, John discusses one of the many areas in our finances where we should involve our family members.



By [http://ezinearticles.com/?expert=John_Glasburg]John Glasburg

Perhaps you're the primary money manager in the family; it means you'll probably shoulder most of the tasks for turning your family's financial situation around. However, that doesn't mean you shouldn't involve other family members in the effort. The cooperation of your children is essential. Although you are the one who pay the bills every month, you and your children spend the money together, so they have very direct effects on the failure or success of your get-out-of-debt effort. You should be totally honest about your family's financial situation with your children. They may not need to know all the exact details, but if your kids are mature enough to sense money-related anxiety and tension in your household, you should tell them about what is actually going on and what you're doing to improve things.

Perhaps, like most parents, your first instinct may be to protect the children from your family's financial troubles. Usually, that is not a good thing. Even three years old children are surprisingly perceptive about subtle changes in their environment.

Of course, they may not know exactly why things have changed or how, but they can feel the changes and may develop unexpected problems as a result except if you help your children understand and deal with what's going on. You should help your children maintain a sense of security and confidence by explaining your family's financial issues and what they should expect in the months ahead. Always take their maturity levels and ages into consideration when you decide to talk to them. Tell them all they need to know and can understand intellectually, and don't scare them. You probably should go into greater detail with your preteen or teenage child. They generally have more financial requirements than younger children and are more susceptible to pressure.

About the Author:

John's articles have been provided since 2006. His new website is about dating and can be found at [http://www.singlesdatingsite.org/]http://www.singlesdatingsite.org/, this site helps people find the best [http://www.singlesdatingsite.org/]singles dating site they need.

Article Source: http://EzineArticles.com/?expert=John_Glasburg http://EzineArticles.com/?Informing-Your-Children-About-Your-Debt&id=3047360

No comments:

Post a Comment