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FAST TRACK DEBT RELIEF ADVICE BLOG
MAY 22, 2015, FRIDAY
Child-with-family-living-debt-free Maintaining Debt Free Living While Being Compared to Other Families

Debt free living is certainly an admirable commitment, but it’s not always one that’s easy for children to understand. When they see other families buying this or that, they often want something similar. When they see other kids seemingly struggling with money, they wonder about that too. What do you say in situations like this?

The Reasons are Many

The single best way to explain financial differences among families to your children is to let them know that some people have plenty of money while others simply don’t. It’s important to stress, though, that the reasons behind the variance among family incomes are numerous.

It may help to let them know a few of the reasons. Help them understand that sometimes people have money that goes back generations in their families and some people have plenty of money because they chose good jobs. As you talk about jobs, though, remind your children that it’s not the salary that makes a good job, but the happiness factor.

The Result Can Be The Same

While you talk to your children about the different reasons some people have money and some people don’t, be sure to stress that no matter what the financial situation, people always find a way to get food on the table, enjoy life, and even celebrate important events like birthdays. Stressing that happiness is possible at any level of income can help your children learn that money is not the only factor in enjoying a good life.

Debt free living should always be the goal, but helping your children learn more about money and various financial situations right now is an absolute must before they get old enough to manage their own finances.

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