Discussing Your Finances

KIDS AND FINANCES

Last week while on vacation I had lunch with a friend of mine and we caught up on what’s ben going on with each other.

One topic that came up was about our kids. We talked about how much kids should know about grown up things and then he told me his kids, ages 11 and 13 know all about him and his wife’s finances.

I was like what? That’s crazy, kids don’t need to know how much mommy and daddy make, or how much they have in the bank. Everytime I’m doing bills if Rylee walks into the room I tell her I’m busy and come back later.

This discussion got interesting.

 

-) What age do you discuss your finances with your children?

-) Is it important that your kids know this information in the event something awful happens?

-) I grew up knowing nothing about how much my dad makes. I’m in my 40’s and I still don’t know anything about their finances.