Recently, when I was talking to a client she expressed her concerns about her kids finding out how bad the household finances are. It’s not the first time I’ve heard clients express those concerns to me. And when parents are facing some real tough decisions, there are no easy answers I can provide. Yet when it comes to having to talk to kids about the debt problems that affect the household, isn’t it important to talk to them? In this series, I’ll be sharing much of my own observations in speaking with clients, in speaking with colleagues, and in some cases, in speaking with and learning from kids.
Several months ago, I was speaking with a colleague who shared with me that when she was driving her kids to school, her son asked what she thought was an odd question.
“Mom, are we going to lose our house and have to move?”
Obviously, the question took her by surprise. She assured him that they weren’t, and then asked, “why are you asking such a thing?”
Her son then explained that a few kids in school were transferring out, and for at least one of them, it was because their family had lost their home in foreclosure. Times sure are different than they were when I was in school.
But it wasn’t that event that started my mulling over the subject of talking to the kids about the debt. It was the recent conversation with my client… who, I’ll add, was shivering in the backyard out of their ear shot.
I have no doubt that my client’s heart is in the right place in protecting her kids from the “adult” world of out of control family finances. Their concerns are math, reading, sports, MTV (arguably) and texting. Frankly, I’m not all together unsure I would not be doing the same thing… which is not to say that I think it is right to shield the kids from such thing. But that I understand why parents do it.
And remember, this blog doesn’t just share bankruptcy information that consumer and small businesses can use, it shares my observations as well. And over the years, my clients have told me that my observations have provided them some needed clarity in an otherwise really difficult time.
I remembered my colleague’s son when I was talking to my client, and that’s when it hit me: just because parents are not talking to their kids about how this economic climate is affecting their family, does not mean that kids don’t see how it’s affecting others. And that’s why as difficult as it might be, you can talk to your kids about what’s happening.
It’s with those two back-drops in mind that I start this discussion: talking to your kids about the family financial crisis. See you back here tomorrow.
Related posts:
- Talking to the Kids: Dealing with Failure
- Kids Aren’t Stupid (Really)
- Proactive v. Reactive: Start Talking
- Storm Preparation: Talk to Your Kids
- When the Nest is not Empty: Some Food for Thought for Parents Struggling with Debt
Tags: Talking to your kids