Saturday, September 13, 2014

What To Tell Your Children If You Can't Afford Something

I have heard from a couple of people that you shouldn't discuss money with children. I am not sure yet how I feel about this. I guess you would not want to frighten them, and make them worry about finances when you don't need to. Like you would not want them to think that just because you can't afford some item that you are going to lose the house, etc.

One of my facebook friends said it is a pet peeve of hers to hear a parent tell a child that they can't afford something. She thinks that just saying no to a request is enough.

Again, not sure how I feel about this. I think this might work with a young child. Like just saying no if they want a candy bar at a checkout.

But I think older children should understand the concept of budgeting and not being able to afford something. After all, they need to learn about money too, and they will be dealing with budgets and not being able to afford something all too soon. I don't think just saying no in these cases is enough.

Maybe I need to read up on what Dave Ramsey says about this.

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