Finance Quick Answers
What do I do when my children ask me about how much income we earn?
Most parents prefer not telling their children their
annual income, yet children need to learn sound
financial concepts at a young age. One mother explained
to her kids that she makes "more money than some yet
less than others." When your children start asking about
your income and money, instead of focusing on specific
figures, use the opportunity to stress the importance of
saving first, having a financial plan, and using credit
wisely no matter what income a person makes.
For additional information, see
www.wisepockets.com a website developed by the
Center for
Entrepreneurship and Economic Education at the
University of Missouri-St. Louis.
Mary Anne B. Pettit, Center for Economic Education, Southern Illinois University-Edwardsville
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Last update: Friday, July 25, 2008
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