10 Secrets to Help Your Children Cope with Financial Crisis
http://micheleborba.ivillage.com/parenting/archives/2008/09/10-secrets-to-help-your-childr.html?dst=rss%7CMSNBC_Today_Money
Found this informative article about helping our children learn to cope with the economy's financial crisis. I learnt new techniques to communicate with my daughter on this subject topic.
According to the article, "The parents’ constant conflicts, irritability and hostile exchanges over money matters was what greatly increased the likelihood of their children's emotional and behavior problems.[ii] The parents’ constant stress over their money matters also reduced their parenting abilities so the kids’ problems remained with them through adulthood."
Ten parenting secrets to help children cope with financial crisis
1. Don't hide the truth
For a young child: “Daddy and Mommy are a little worried about work right now but we’re doing what we can so everyone will be all right.” For an older child: “I know you’ve heard about how bad the economy is right now. Things will be tight at home for a while but we’re working hard to try to make it through this.” If you are about to lose your home, job, etc. make sure you are the one to tell your child.
2. Acknowledge your worry
Begin with a simple: “I know you’ve noticed that Dad and I have been upset lately, so we wanted to let you know what’s going on.” Your child may not seek you out, so go to your child.
3. Keep an open dialogue
Be there to set them straight about the facts and tone down those doom and gloom reports. You can also ask, “What have you heard?” or, “What are your friends saying?” By the way, a big concern for tweens in particular is what their friends will say about your family’s financial situation. Let your kids know they are not alone. Foreclosures are everywhere. Unemployment has never been this high. There are other kids who are suffering as well.
4. Set a budget
Sit down with your kids and explain that you need to cut back. Don’t go into details about your finances. Instead, explain that you need to set a budget. Enlist your kids to help you prioritize your spending. It’s a great way to teach financial planning.
5. Reduce conflict
Studies show that during tough economic times the constant parental conflicts cause kids the most emotional damage. Set a "no yelling" policy.
6. Stick to routine
Sticking to a routine helps reduce worries because it boosts predictability and security. During tough times those routines are crucial for kids.
7. Monitor the news
Limit viewing those stressful news stories or better yet, turn the TV off during the news hour.
8. Reduce stress as a family
Whenever you’re upset take a few deep breaths or walk away until you can get back in control. But also find no-cost ways to reduce stress as a family. Meditate with your kids, do yoga with your daughter, ride bikes with your preschooler, listen to relaxation tapes with your kids. Not only will you reduce your stress but you’ll also help your kids learn healthy ways to minimize theirs.
9. Tune into your child and ask for help
Watch for stress signs or behaviors that are not typical for your child. Enlist a relative or friend who cares about your child to spend a bit more time with him.
10. Offer hope
Kids are resilient and what they need most is reassurance that you will make it through this together. Stay honest, “I don’t know how things will turn out, but I’ll do absolutely possible.” Above all, give your kids a message of hope, “Whatever happens, we’re together.” When all is said and done that really is what matters most.
Found this informative article about helping our children learn to cope with the economy's financial crisis. I learnt new techniques to communicate with my daughter on this subject topic.
According to the article, "The parents’ constant conflicts, irritability and hostile exchanges over money matters was what greatly increased the likelihood of their children's emotional and behavior problems.[ii] The parents’ constant stress over their money matters also reduced their parenting abilities so the kids’ problems remained with them through adulthood."
Ten parenting secrets to help children cope with financial crisis
1. Don't hide the truth
For a young child: “Daddy and Mommy are a little worried about work right now but we’re doing what we can so everyone will be all right.” For an older child: “I know you’ve heard about how bad the economy is right now. Things will be tight at home for a while but we’re working hard to try to make it through this.” If you are about to lose your home, job, etc. make sure you are the one to tell your child.
2. Acknowledge your worry
Begin with a simple: “I know you’ve noticed that Dad and I have been upset lately, so we wanted to let you know what’s going on.” Your child may not seek you out, so go to your child.
3. Keep an open dialogue
Be there to set them straight about the facts and tone down those doom and gloom reports. You can also ask, “What have you heard?” or, “What are your friends saying?” By the way, a big concern for tweens in particular is what their friends will say about your family’s financial situation. Let your kids know they are not alone. Foreclosures are everywhere. Unemployment has never been this high. There are other kids who are suffering as well.
4. Set a budget
Sit down with your kids and explain that you need to cut back. Don’t go into details about your finances. Instead, explain that you need to set a budget. Enlist your kids to help you prioritize your spending. It’s a great way to teach financial planning.
5. Reduce conflict
Studies show that during tough economic times the constant parental conflicts cause kids the most emotional damage. Set a "no yelling" policy.
6. Stick to routine
Sticking to a routine helps reduce worries because it boosts predictability and security. During tough times those routines are crucial for kids.
7. Monitor the news
Limit viewing those stressful news stories or better yet, turn the TV off during the news hour.
8. Reduce stress as a family
Whenever you’re upset take a few deep breaths or walk away until you can get back in control. But also find no-cost ways to reduce stress as a family. Meditate with your kids, do yoga with your daughter, ride bikes with your preschooler, listen to relaxation tapes with your kids. Not only will you reduce your stress but you’ll also help your kids learn healthy ways to minimize theirs.
9. Tune into your child and ask for help
Watch for stress signs or behaviors that are not typical for your child. Enlist a relative or friend who cares about your child to spend a bit more time with him.
10. Offer hope
Kids are resilient and what they need most is reassurance that you will make it through this together. Stay honest, “I don’t know how things will turn out, but I’ll do absolutely possible.” Above all, give your kids a message of hope, “Whatever happens, we’re together.” When all is said and done that really is what matters most.
posted by Jiru at
8:54 AM
