How much do they need to know?
July 1, 2014 7:53 PM Subscribe
We have two kids who are 12 and 14. From an emotional/psychological standpoint, how much or how little should they know about some minor, but real financial difficulties that we have as parents?
We recently hosted a religious coming of age party for one of our children and had my parents pay for the whole thing (several thousand dollars) because we didn't have money for that just laying around. I told my kid to write a thank you note to my parents for helping make the day even possible, and my father was very upset. He said that children should not be made to feel that their parents can't financially provide for them, in whatever way, as it would make them insecure. Is there anything to that notion? I thought nothing of telling the kid that grandma and Grandpa paid for the event. Thoughts about divulging financial shortcomings to kids?