Formerly Black Trash
Philosopher, Connoisseur, Future Legend
So they understand how much shyt costs?
Do you think its a good idea to show your kids your finances?
- Thread starter Formerly Black Trash
- Start date
There is no Santa Claus, just mommy and daddy, along with your aunties and uncles. Fairy tales are make believe. kids should know their housing, food, and other goods cost money.
My kids thank me every time I buy them something because they know I’m using my funds for their benefit.
My kids thank me every time I buy them something because they know I’m using my funds for their benefit.
Formerly Black Trash
Philosopher, Connoisseur, Future Legend
Right but I'm talking about knowing how much you spend a month, how much you make, the average use of your credit cards
So they know what they have to make to live the lifestyle
to some extent? say more
I would absolutely teach my kid everything about finances down to trading stocks....everything
Formerly Black Trash
Philosopher, Connoisseur, Future Legend
Would you be comfortable telling your kids
This is how much I make an hour/yearly
This is how much these bills cost
This is how much the mortgage is
Etc
blockburna420
Consecutive thumbs up
hell naw,, like they always say "stay in a child's place". Just show them how to handle responsibilities. As in up keeping the house and chores. They can learn finances with their allowance if they consistently keep up with their responsibilities.Plus I don't trust nobody when it comes to my money. I've seen a lot of fukked up shyt kids did first hand. My nephew stole from my whole family , he even made the news cause he stole checks from wayne state.
Yes, my oldest knows because I’m teaching him how to be responsible with finances. I’ll teach the othe
I think its a good idea to get kids to understand the concept of money early on, just like many other things.
When I worked in banking, most of the people I talked to who do relatively well for themselves talked about how their parents set up savings accounts, budgeting and the like.
When I worked in banking, most of the people I talked to who do relatively well for themselves talked about how their parents set up savings accounts, budgeting and the like.
Well it depends on your situation. Say you got a side baby you gotta pay child 1 for, you might feel like using some discretion because it could create unnecessary issues. I think they should at least get a general idea of how much money coming in, general expenses, etc. But not necessary line by line. Depends how open you want to be, their age, etc.
Who Not How
Superstar
Kids love to brag and show out. You can teach your kids financial literacy without showing your bank account. No one should know how much money you got.
I think its huge in establishing a degree of financial literacy early....
The only reason you don't do it is because of insecurity and the feeling that it would inhibit your authority as a parent. And that's exactly why so many parents don't talk about it with their kids - they just let them grow up, get out into world, and get blindsided.
The only reason you don't do it is because of insecurity and the feeling that it would inhibit your authority as a parent. And that's exactly why so many parents don't talk about it with their kids - they just let them grow up, get out into world, and get blindsided.
Formerly Black Trash
Philosopher, Connoisseur, Future Legend
I mean...they already know if you broke or balling
Who Not How
Superstar
That's much different than showing your account balance. Kids don't need to know everything. But folks raise their kids how they see fit.