How to explain money to kids??

Question

How do you deny your kids gifts or certain items gracefully that you can't afford? Do you start to express that things cost money and we won't be spending money on that item??

We were setting up our Christmas tree and my son asked why there was no skirt on the tree and said we should go buy one. He didn't like the star and top and wanted us to get a new one. He wants his own tree for his room and extra items around the house. I wanted to just break down and shouted "we can't afford all that!"  But I don't know if it is right to talk to my child about my financial situation.

Ugh the stress of the holidays.

Answer

Bless him. If you live nearby I would love to donate some Christmas decorations for you and your son. ~Alabama~

Answer

I think it's best to explain that you cannot afford it. I prefer to explain the truth then try to fluff it. Kids understand a lot more than we give them credit for.

Answer

Niw would be the time to start a chore. And allowance regimen.

Answer

You never truly understand the value of money until you have to earn it or use a budget. How old is your kid? Depending on age you may try a small allowance or pay for chores to start the process

Answer

We tell my almost 3 year old nephew that we don't have money for thibgs at the store when he wants them. He also knows that in stores you have to pay money to get things. It depends on how old your son is, but I don't think it's bad to tell him you can't afford things like that and explain why. Obviously a detailed talk about finances isn't necessary but a general explanation should be fine.

Answer

Explain about prioritizing expenses in a household maybe if you think that may create understanding rather than anxiety for him.

Answer

Children now a days grow up entitled. It's very sad how little money means to them. Definitely tell him you can't afford it.

Answer

It's ok to tell them that it's expensive and it adds up or tell him that if you were to spend money on those items your wouldn't have enough money to buy gifts

Answer

I don't think yelling was the correct thing to do. Sit down with him and explain how money works.

Answer

We've just said, there's no money for that, or we can't afford it.

How to explain money to kids??

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