If you find yourself in a difficult situation financially, whether it is job loss, cut in pay, or bad investment, it’s critical that you find a way to bring your children into the conversation. Kids are amazingly perceptive, and always sense when something is wrong, or when anxiety is in the air. Although you may want to shield your children from the unpleasantness of what is occurring, your silence will only make their imaginations run wild with possibilities of what could be wrong, causing them undue emotional stress.

Tailor your discussion to the age of your children in a language that they can understand. The most important thing to remember is to always keep the conversation reassuring- let them know that you may be preoccupied lately but it is not because of anything they have done. Make sure they understand that your family isn’t being singled out with these problems, and that there are other kids just like them going through this all over the world. Let your child know that they can come to you at any time with questions.

Take the opportunity to teach your children the importance of a family budget. Ask each member of the family to provide input on what activities are most important to them, in addition to what activities they would be willing to give up. Show your children how that information can be incorporated into the family budget and make everyone promise to abide by the budget for the next month.

On the other hand, you don’t want to overly dwell on the seriousness and negativity of your situation- try to keep your family’s spirits up and be thankful for what you do have. Research low-cost activities that your entire family can enjoy such as free outdoor concerts, street fairs, and art festivals. It’s important for your children to see that you are not letting this challenge get you down, and are persevering through hardship.

Try as much as possible to continue the same routine you adhered to before your financial crisis began. Your children especially need stability at times like these, and sticking to your normal schedule is the best way to achieve that. Keep your children on the same bedtime schedule, afterschool playdate rotation, and morning walk to the bus that they have always adhered to. Also avoid engaging in serious financial discussions in front of your children- even if you think they’re not listening. Save important discussions and arguments for behind closed doors or when your children are at school.

As difficult as things may seem, remember that your children are looking to you for examples of how to get through these tough times. Give a message of hope- reassure them that you have things under control and that your family will get through this together.

Posted in Home Budget

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