Reply to Do you tell your kids exactly how much you make?

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[quote=Anonymous][quote=Anonymous][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]

If you have that kind of income, can't you easily go to Disney for a trip?  We make less than you and could easily pay cash for a trip to Disney no issue but our mortgage is 1/2.  That's a pretty grand trip for Disney.  We've gone 10 days several times, including a cruise and never spent that much.  $4k on a mortgage is high and then to turn around to tell them $15 an hour, which isn't minimum wage everywhere is setting them up big time.

Its not useful if you have a grand lifestyle as kids will not get it at a young age.  [/quote]

Yiu are weird. Why are you so worried if she spends 10k at Disney? This is easy to burn theough at Disney.

Oh and we are taking a Disney cruise next month. It is costing our family of 4 12k. This does not include our flights to Miami, which are 2,290 (Christmas rates) and 2 nights hotel in Miami.
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