Dec 8, 2008 9:48 am US/Eastern
Helping Kids Cope With The Tough Economy
BOSTON (WBZ) ―
-
-
Experts suggest that before talking to your children about financial matters, you develop an outline of just what you want to say to them.
WBZ
The
current financial mess is difficult for grownups to comprehend, but what about kids who might hear their parents talking about layoffs or a shorter holiday gift list? This can create anxiety in many children.
When asked about the current economic situation, a group of grade school children had some pretty astute comments. "People can't pay off the loans so their houses get taken away," said one boy.
Another added, "The other problem is some banks are getting scared and not lending money to other businesses."
What should be days of innocence are marred by thoughts like the ones expressed by one girl. "I know a couple of people who lost their jobs. It's sort of creepy."
Find A Virtually Recession-Proof Career
20Another girl said, "It's scary because I have read a lot about the Great Depression and it sort of makes me think we're headed that way."
The first inclination of many parents is to shelter their children from troubling information. Dr. Bennett Leventhal, a child psychologist, says that's a mistake. "Your job is not to protect your children from worrying. Your job is to help them manage their worries."
Experts suggest that before talking to your children about financial matters, you develop an outline of just what you want to say to them. Deliver that information with a reassuring tone. Also give them a role in coping with your family's situation, such as doing more chores.
Dr. Leventhal said, "Hiding it isn't going to make it go away. It just makes it go underground, and that's what makes children anxious, and upset, and leads to long term problems."
We all want our children to have carefree memories of childhood, but older generations say learning these types of lessons early in life isn't all bad.
Penelope Smith grew up in the Great Depression. "We were poor, and everybody was poor, and we thought that was normal."
She had to care for her infant sister so her single mother could work. "It gave us a sense of responsibility. She was really like my little baby, as well as my baby sister. It made us very close."
No one wants our children to live through hard times, but learning that what goes up, sometimes comes down, isn't a bad life lesson either.
There are some books that can help you start a discussion about the economy with your children.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
Click to enlarge
Stumble It!
Reporting
Comments