Perhaps you find yourself living in a country undergoing major financial upheaval. Chances are you yourself are worried, and are making moves to protect yourself. Or perhaps you are so emotional and are not sure what to do. Whatever the situation, pay attention to your children during this difficult period, as they may be scared and worried. Children will hear frightening stories from their friends and the information they get will be very incomplete and troubling to them. Give your child full support during any financial crisis and let them know that you have things under control. Do not make the mistake of letting your child suffer in silent worry.
According to the experts, today’s kids are much better equipped to deal with sensitive subjects than you were, as you know if you’ve already discussed sex with them without resorting to that birds & bees nonsense. The trick is in approaching them in a way that raises their comfort level and presents only the information that is appropriate to their age level.
If you don’t talk to them about the economy, they are going to hear about it anyway. So don’t worry about whether you think they’ll be able to understand what’s going on. The best thing you can do is to keep the lines of communication open.
Current Economic Crisis Tips for Parents.
Tips for Talking to Children about the Current Economy:
1. Open up the discussion. Operate on the same principle as with the Birds & the Bees talk: the older the child, the more detailed the info.
With preschoolers, says Faull, parents might say: “Mommy and Daddy are worried about money, but it’s an adult problem, and we’ll take care of it.” Vital is that your child know she’s protected. This holds true no matter how dire your situation. Should you be losing your home, say: “We’re going to move to an apartment, but we’re all going to be together. You’re safe with us.”
School-aged kids, privy to news reports and playground rumors, will know something is up. Parents can explain mortgages, banking, whatever might fit into a child’s knowledge base. But, says Faull, deliver the information “in soundbites.” Don’t burden your child with details, nor with the problems you and your spouse might be facing.
With teenagers, parents should be specific. After all, teens will be discussing the issues in school, and says Faull, “you’ll want to sift the information they’re getting through your family’s worldview.” No need to open your check ledger, but do let them know how the crisis is directly affecting the family.
2. Manage expectations. Explain, in a non-alarming way, that there’ll be some belt-tightening. Whether this means gas-saving activities—backyard camp-out rather than weekend road-trip, say—or a leaner Christmas load, your children need to be told. Says Faull: “A child who gets one birthday present instead of the usual five will feel he’s done something wrong”—unless you explain the reasons behind it. Expect kids to push your limits, whining, even tantruming, for what they’re used to. Change is never comfortable, especially when it entails loss. Allow room for emotions, but continue to affirm your new boundaries, with as much patience as possible.
3. Use the crisis as a teachable moment. Older kids need to know how credit cards work—and the dangers of spending money that doesn’t exist. Cost-cutting tricks can be a form of play for younger children: clipping coupons from the Sunday paper, say, or scouting grocery aisles for sale items. All ages can learn lessons in budgeting through the apportionment of their allowance toward spending, saving, and charity. If parental resources are stretched thin, teens with jobs might be asked to contribute to their own after-school activities.
4. Reduce the anxiety level. TV news feeds us the same info on an endless loop, breeding fear rather than providing illumination. Get the updates you need, then retire the remote. Or switch to Sesame Street, Hannah Montana—whatever! As for bickering, or battling, with your spouse about finances, do it behind closed doors, away from the kids. Find ways to vent your own stress. Pound a Stairmaster, punch a pillow, talk to friends—just don’t lash out at the kids. When you do—and, let’s face it, who among us doesn’t?—take responsibility for your words and actions. Make sure your child knows she’s not to blame.
5. Count your blessings. No need to act the Pollyanna, denying today’s realities. Just open your eyes to the good all around. There’s always something to be grateful for. A younger child might enjoy doing a nightly gratitude list—alphabetized. “I am grateful for…applesauce…Ben 10…cartwheels…” All ages can be taught to look for silver linings: A laid-off parent might have more time to play at home. Fewer fancy toys might mean more creative play with whatever’s at hand.
When kids see their parents struggle honestly with challenges, overcome them or learn to accept them and live with them (rather than go into denial or flee from them), they will be better prepared to cope with their own inevitable challenges. Life pitches us plenty of curveballs. Kids who see their family come together, swing for the fence, and keep swinging even when they strike out will grow up more willing to take risks, make mistakes, learn, and grow. That strikes me as a pretty good way to pursue happiness.
Related posts:
Talking To Kids about the Current Economic Crisis
When it comes to the current economic crisis, even adults can be confused about how our economy went from boom to gloom in the blink of an eye.
Imagine how your kids are feeling. While they may not read the financial pages, they do read the concern on our faces.
Help your kids understand what your family is doing to weather this recession and ask for the participation.
They’ll feel safer being part of a plan and seeing it in action.
Now is also a great opportunity to teach your kids about the basics of money management.
Talking to Young Kids About the Financial Crisis
The current economic situation can provide a teaching moment. But it’s important to keep your discussion reassuring — and age-appropriate.
http://www.kiplinger.com/columns/
drt/archive/2008/dt081001.html
Talking to Kids About the Economy
The American Academy of Pediatrics encourages pediatricians, families, and communities to work together to ensure that children’s basic needs are met. This is crucial during challenging economic times. It is clear that the current situation is having a major impact on adults throughout the United States and abroad. The effect that it may have on children and adolescents is less obvious, but it is something that parents and pediatricians can address.