Are Children too young to worry about finances?

Published: Friday, Nov. 16 2012 12:50 p.m. MST

Children may not necessarily understand the added strain that is put on the family when finances are thin, so it’s important to communicate with them during difficult times, according to a recent article on The Christian Broadcasting Network.

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"Why can't I have it?" a screaming child protests in a store.

Children may not necessarily understand the added strain that is put on the family when finances are thin, so it’s important to communicate with children during difficult times, according to a recent article on The Christian Broadcasting Network.

"Make the explanation about tough economic times age-appropriate," Linda Mintle, a marriage and family therapist, said in the article. "Tell your children that daddy is looking for a new job. In the meantime, you will need to cut back on some of your wants versus needs."

In addition to cutting extra expenses, Mintle suggests using an emergency fund, staying positive and grateful and actively looking for a job.

"The most important thing to convey is that they will be taken care of and your family will make it through this difficult time," Mintle said. "Job loss will mean less spending, but so much of what we spend money on is about wants and desires versus true need."

EMAIL: alovell@deseretnews.com

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