How Much Should You Tell Your Kids About Money?

Posted on 04. Apr, 2006 by in Saving & Investing

family_money.jpgI’ve written a few posts on kids and money but I have never really covered this question before. Luckily, another journalist has. Over the past few weeks, Jeff Opdyke has written a few articles on kids and money from various angles. As he has written these articles, he has received a fair amount of response from parents voicing their opinion on how much information a parent should share with children. I invite you to add your own two cents here and let us know how you feel about sharing financial information with your kids.

Do you tell your kids how much you make?

Do you share with them how much you have put into a savings/other account for them?

Have you provided them with some sort of savings account/trust fund in case of your death or injury?

One Response to “How Much Should You Tell Your Kids About Money?”

  1. Natalie Ferguson

    05. Apr, 2006

    I think you got it right with your description of paying the electricity bill the first time. If your kids don’t learn how to deal with money, it will all come as a shock and the learning will begin at 20 (and the unlearning of bad habits). I think kids should know as much as possible, especially, like you say, taking an active part in figuring out how to conserve and understanding their role in spending! 🙂

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