The interesting thing is I always assumed that my parents didn't tell me how much they made because we were poor.

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Feb 16, 2021
9:18:12am

Sea Chicken Freeloader

My brother always assumed it was because we were rich.

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Sea Chicken

Bio page: Sea Chicken
Joined: Jun 26, 2001
Last login: May 17, 2024
Total posts: 58,840 (1,383 FO)

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Messages

Author

Time

How open are you with your kids about finances?

Diddy

2/16/21 9:12am

I tell them as much as they want to know. How much I make, what the mortgage

WhirleyPop

2/16/21 9:14am

I tell them in general but not specifics about salary and savings. They talk too

Baron

2/16/21 9:15am

We tried to teach them financial principles but weren't very specific about what we make or how many assets we have.

Sea Chicken

2/16/21 9:16am

I asked my dad once how much he made, and he told me it was none of my business.

Texas Hammer

2/16/21 9:16am

The interesting thing is I always assumed that my parents didn't tell me how much they made because we were poor.

Sea Chicken

2/16/21 9:18am

I grew up with my dad sitting at the kitchen table every month going over his budget, and my mom worried she was going

Texas Hammer

2/16/21 9:31am

It feels like being open about finances and sex are two big differences

Diddy

2/16/21 9:22am

My parents kept theirs in the dark. If I’d have known what was up

Adwight

2/16/21 9:39am

I don't really have any issue with my kids knowing how much we make or what our net worth is as a matter of principle,

supertux

2/16/21 9:17am

This is a good point...I've been more open with my older children because

Diddy

2/16/21 9:19am

I've started being much more open with my 13yo

CommodoreCoug

2/16/21 9:17am

My kids ask all the time and I don’t tell them

JOPE

2/16/21 9:22am

All of my kids think we are poor because we don't get them the latest phones and their own new cars when they turn 16

Clark Addison

2/16/21 9:24am

My kids think we're poor because we are. But also because we live in one of the cheapest neighborhoods in our ward

supertux

2/16/21 9:27am

I thought my parents were poor for the same reason. And also wanted two stories

califcougar

2/16/21 9:39am

same, plus I make them drive the 20 year old car

Turd Ferguson

2/16/21 9:57am

I don't tell them, because I don't want them to chatter or brag to friends.

doctorcoug

2/16/21 9:26am

I don't think there is necessarily a "right way", but I think part of the issue is helping your kids understand what

supertux

2/16/21 9:31am

When my kids were in Jr high and High school 20 years ago I told them I made

Nat Gas Man

2/16/21 9:26am

I tried to keep net worth a secret, but recently my high school senior had to

statguru

2/16/21 9:28am

Just the other day I was talking with my teenage sons

UVCoug

2/16/21 9:28am

Nothing

Remigius

2/16/21 9:28am

I think parents can and certainly should talk about and teach finances,

The Pope

2/16/21 9:31am

Since they are beneficiaries, they know everything and get an annual update of

basman

2/16/21 9:32am

My kids vote on how we use our vacation money every year but I get two votes

EternalOptimism

2/16/21 9:33am

I’ve been fairly open as a way to help them understand the cost of their wants

KingDave

2/16/21 9:35am

My kids range in age from 29-40; I'm open with them in general terms and tight lipped about details

ColoSpgs

2/16/21 9:35am

I wish my parents talked to me more about finances. In no way do you have to

_Dakoko

2/16/21 9:38am

Kids are younger (pre teens) but I plan to be extremely open

cougfanz

2/16/21 9:43am

A few years ago (when my kids were about 7 and 5) I caught them arguing over who

crack

2/16/21 9:46am

My 5 year old asks if we can buy something

RealSimsShadY

2/16/21 9:48am

You should tell him that the ice cream truck only plays music when it is all out of ice cream

supertux

2/16/21 9:52am

exactly. I have shared with them that they need to start building a savings acc

BYU Grounds

2/16/21 9:51am

It shocked my daughter when she learned the bank would give her money

KingDave

2/16/21 9:54am

My kids saw what they were getting back and decided it wasn't worth it for

crack

2/16/21 10:15am

I have to be careful because of my son

HiLife

2/16/21 9:54am

boardname doesn't check out

RealSimsShadY

2/16/21 10:35am

We will teach our kids a ton, but not let them know how much we actually have

RUNBYU1

2/16/21 9:55am

I make sure they know we are not one of those rich two masks families

BR549

2/16/21 9:56am

Yes I've told my kids we're not rich like m0resn0w. He is loaded and flaunts it

BYU Grounds

2/16/21 10:10am

I mean, when they start applying for college/scholarships, it's not a secret.

runnincoug

2/16/21 11:04am

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