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Money and Finances
Reply to "Do you tell your kids exactly how much you make?"
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[quote=Anonymous][quote=Anonymous]No. Kids can't handle it. They will disclose. We give our kids a general idea that we do well enough to afford a nice house, but we have to save for college and vacations, etc. I actually have a lot in savings, but don't want them to know we are well off. I plan on disclosing financial info to them after they are in their own career in their 20's. That's when my single mom went over her finances with me- for will and estate purposes. That was the right time I think[/quote] As PPs noted, explaining expenses is more useful. I've told my elementary school kids that the mortgage is $4000/month. The car cost $30,000. We're saving for a trip to Disneyworld that will cost $10,000. and that without a college degree, they may end up working at McDonalds or retail for $15/hour, or $2400/month which isn't even enough for a cheap apartment, food, clothes and bus fare. so I tell them, their job is to do well in school.[/quote]
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