Adjustment for the Kids

Monday, August 25, 2008
Posted by Pearl

Of course, the kids should be informed about the change in your family's financial status, and with this, comes the adjustment that they also need to make. So, depending on the way you have handled your family's finances before this change, your kids might have picked them up from you without you realizing it. So, if you have allowed them to enjoy material things before when there were still 2 paychecks in your household, you really have to do double time in telling them that it's not going to be so much fun anymore in your current situation.

So, next time you go malling, don't easily give in to their requests for you to buy them the latest doll or robot.

  • Teach your kids the value of things. Let them understand that it takes hard work to pay for the things that they want you to buy for them.
  • Don't motivate your child through these material things, rather teach to be motivated through intangible things.
  • Don't use material things as a way for you and your kids to bond. You can go malling together, but you shouldn't give them gifts unnecessarily.
  • Give your kids a small allowance so that they will have a sense of responsibility.
  • Allow your child to spend some of her allowance. Help them in this aspect for them to buy little things.
These will surely go a long way in instilling in your kids the value and importance of money.