Our kids asked a few months ago about credit cards and they know what they are and that we only have ONE for emergencies and we have a gas card that we pay off every month. I think its important for kids to see that you can living comfortably and be debt free.
The past several months have been an absolute revelation for our kids (10 and 13). We've been on a strict budget for a few years now, trying to work through the construction downturn. They've seen me go from working at home (and homeschooling them) to taking a part-time job for two years, to taking a fulltime job last year. This year, as it worsens, they've seen our budget for discretionary things such as vacations and extra activities eliminated. Over the summer, we've come down to sometimes not having the things in the refrigerator and pantry that they are used to seeing stocked full. We keep the kids in the loop but stress solutions rather than panic. I think they are learning valuable lessons about budgeting, choices, and planning. The thing that has bothered me most is realizing that although we've never been wealthy, they did tend to have all the things they really wanted/needed. I think the past couple of months they've been thinking it's really a big joke, that this is temporary and suspendable. It's taken them a while to realize that there's not a "money store" somewhere to bail us all out of this cutting back stuff! So, I think
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The past several months have been an absolute revelation for our kids (10 and 13). We've been on a strict budget for a few years now, trying to work through the construction downturn. They've seen me go from working at home (and homeschooling them) to taking a part-time job for two years, to taking a fulltime job last year. This year, as it worsens, they've seen our budget for discretionary things such as vacations and extra activities eliminated. Over the summer, we've come down to sometimes not having the things in the refrigerator and pantry that they are used to seeing stocked full. We keep the kids in the loop but stress solutions rather than panic. I think they are learning valuable lessons about budgeting, choices, and planning. The thing that has bothered me most is realizing that although we've never been wealthy, they did tend to have all the things they really wanted/needed. I think the past couple of months they've been thinking it's really a big joke, that this is temporary and suspendable. It's taken them a while to realize that there's not a "money store" somewhere to bail us all out of this cutting back stuff! So, I think
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