Do you tell your kids exactly how much you make?

[Anonymous]

Here are the only things my kids (elementary school) know about how much money we make.
1. Either of us could upport the family of the other lost his or her job but it would mean tightening up on things like dining out, etc.
2. Both of us, especially me (mom), have higher earning potential than what we actually make but choose to work in family friendly jobs that enable us to have the work-life balance we want.

[Anonymous]

No. We have a very high HHI but we live well below our means and we like it that way. We are very good about teaching them the value of a dollar, budgeting, saving etc and that is far more important then what the gross amount is. Other than our accountant and the IRS no one else needs to know.

[Anonymous]

Anonymous wrote:Yes, I discuss our salaries, our decision about making less vs not seeing the kids (mommy and daddy track), budget, cost of college, savings, how credit cards work, health care cost, taxes, retirement planning.

They are late teens.

I tell them they will always know people that make more and friends/family/community create happiness not money.

^^I think you win DCUM!! That last sentence tho^^ I never see posts this wise on here!!

[Anonymous]

Anonymous wrote:Yes, I discuss our salaries, our decision about making less vs not seeing the kids (mommy and daddy track), budget, cost of college, savings, how credit cards work, health care cost, taxes, retirement planning.

They are late teens.

I tell them they will always know people that make more and friends/family/community create happiness not money.

So you are effectively telling your children that "we earn less because of you" and because of that "we love you more than other parents love their kids (because we chose family over money)."
Sounds to me like you are getting your getting off on guilting your kids and acting like you are better than others.

[Anonymous]

Anonymous wrote:Yes. I am a fed, so my salary is publicly disclosed anyway.

Same. We’re public school teachers.

[Anonymous]

I just told my 20 year old DC and response was holy sh*t. DC had worked out in DC head it had to be more than $100k as private tuition at HS for 2 DC was $100k and that was after tax. We just live very below what we earn.