When should you talk to your child about money?

I've always talked to my kids about money and the older they got/get the more I will share with them as its necessary...For example my husband is NOT getting his overtime right now which means we are out $1500 a month..We told the kids that so they are aware that money is a little tight until the new yr and they'll do what they can to help out like turning off lights when they leave the room, making sure the doors are closed so we arent heating the outside and so on....I think in todays world its VERY important for kids to understand the concept of money, how to manage their money, etc etc...The cost of living is forever going up, pay raises ARE NOT matching it and everyone and their mother is downsizing...Kids NEED IMO to be aware of money management which includes letting them know when money situations at home are tough....Of course age appropriate is key when doing it but yes definately IMO let the kids know....

I think we should not disclose money matter to the kids because they can not realize the real fact, sometime they would reflect negatively because of that. If the child able to understand and observe himself, what is the sisuation going his/her parents then should let the child know very little of money matter. In most case money related discussion should be infront of a child. Always we should keep them with happyness to grow smoothly for future without any invironmental affect.

i not have akid but i''m not think are good argoment, m0oney for a kid......after 10 years old i think.......... befor are better a game and play. read a book, and so bye myry

I let my daughter realize at a very young age that we didn't have alot of money. Hardly any money when she was young. I don't know if we told her or she just learned that fact. I do remember telling her one time, that Santa had so many other toys to buy for all of the children around the world, that he was just limiting the amount that he gave. I hope that this was some help. :-)

Yes, I think it's always better to tell the kids the truth. I don't have any children myself, but I wish my parents had been more forthcoming with my brother and I when we were growing up. It would have prevented us from asking for things they couldn't afford and then feeling punished when they said no. Also, I think the sooner the parents start teaching their children about money and budgets and bills, the better that child will be able to handle their own finances when they get older. I know some adults who don't know how to balance their own checkbook, which is just ridiculous. And just speaking for myself, that adage "money doesn't grow on trees" was just too abstract for me when I was little. I mean, I would see hundreds of dollars in my mother's purse, but then she would say no when I asked for some toy. Now, of course, I understand that those hundreds had to pay for rent, food, electricity, clothing, etc. I think kids would feel like they were helping too if they were more in the know when it came to the family budget, especially when things are tight. No, they don't need to know everything, but you can make learning about money management fun for kids, starting with their allowance, and comparing that to mommy and daddy's budget.

I think you should teach them how to save and spend money wisely at an very early age. My parents bought me a bank that had three sec tions in it. one for the bank, one for church/charity, and the other for spending. And they started giving me an allowance at an early age and made me divide the money equally into all three sections. At the time, since i was still really young, I didnt like the fact that my parents were giving me money and telling me what I could and could not do with it. But as i got older I started realizing what they were trying to teach me. Now that i'm alot older I really appreciate what they taught me. As a kid most of my friends would get money from their parents and blow it on toys, candy drinks, etc. I still bought some of that stuff, but at the same time i saved some of my money too.

Children at the elementary-school level can understand the concept of money. You should definitely start your children early. It's one of the most important subjects they will ever learn. And guess what? They won't learn it in school because the teachers themselves know nothing about money. Educate yourself about money management so that you can teach your kids how to be financially intelligent.

I think I will tell my child that money is a very important thing, but anyway it can not rule everything. Being rich is not a good idea for a child. I have seen so many bad examples. The rich families usually have troublesome children. I hope my child can depend on himself and earn by his efforts. My child seldom asks me to buy something for him. It seems that he is very considerate or nice in this aspect. This is why sometimes I especially buy some gifts for him to give him a surprise.

I think the earlier they learn about it the earlier they know how to value money .. and to let the kids know that its hard to work for the money so every cent should be valued

There will never be the right time or right age if parents don't try. I believe that kids know and understand alot more than what the adults give them credit for. As long as they understand right from wrong, I don't see the harm of discussing money issues with them. From there, instead of just telling them the negative, instill some positive like investments, properties, insurance. Explain to them in plain and simple words so they can understand and relate.