As adults the reality of the financial situation is stressful to say the least, but how is it affecting our children? How best to explain to a 10 year old why he can’t have the latest toys and clothes now? Why are the adults in his world tense and irritable?
As a grandparent with son and grandchildren living in our household, I know that in this economy it will be a long while before they can afford to live anywhere else. So, sitting down with the kids and showing them where the money is coming from and going to, helps them to understand the situation better. That also relieves the stress on us, as they stop asking for things they know aren’t possible. They are also taking saving money seriously and are turning off lights and other money-saving steps.