Comments on: Explaining the Recession and Teaching Financial Literacy to Kids

By: Ajeet

Ajeet — Thu, 26 Nov 2009 20:38:36 +0000

I see a lot of old world finance advice being distributed here. If you are thinking of teaching kids about money, well, you should first try and make it relevant.

By: Lynn from Organicmania.com

Lynn from Organicmania.com — Wed, 27 May 2009 17:21:20 +0000

What a fabulous post. I’ve tried to explain what is going on to my son, even telling him that some day he’ll study this time period in school. I really look forward to checking out all these informative links!

And congrats on your blogaversary! I hope to meet you (and Amy) at BlogHER!
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By: Nicole

Nicole — Wed, 27 May 2009 06:57:12 +0000

In regards to sharing if you are more fortunate: My husband and I certainly aren’t rich. But being in Canada, we’re not affected as badly as the US is, plus we get a year’s worth of maternity leave (if we choose to take it, at 55% of our earnings prior to mat leave).

What my daughter (5 months old) will learn from us is charity. I found out that our local food bank will take diapers – any size, any brand, even opened packages. They divide them up and on average 6 diapers go into a hamper for a family with a baby. You can only get 1 hamper per week. Since I found that out I’ve been donating a box of size 3′s (I believe 144 diapers) every month, and encouraging my friends to do the same. $30 a month won’t kill us, and I bet those diapers are a huge help to the moms out there that need them.

Just wanted to share from the flip side of the recession, and point out something small that people can do to help. (Plus, if you’re like me, you just cringe at the thought of surviving for a week on 6 diapers)

By: Loukia

Loukia — Tue, 26 May 2009 19:19:23 +0000

I suck at this. I need all the help I can get – all those resources you mentioned? Should be for me, first. Then I can get a handle on the situation, I’ll teach my kids about being smart with money, and all that. This is a great post, as per usual, though. I guess I should not admit that I have said: “Christos, please I’ll give you 100 dollars if you just let Dimitry play with that toy!”
Seriously, though… my oldest son who is 3 and a half knows that mommy works because we need money – money pays for our food, our clothes, our books, etc. We talk to him about people who are less fortunate, we talk to him about donating items he doesn’t want anymore, and this summer we are going to have a garage sale – and he can keep half he profits, the other half, we’ll give to CHEO.

By: » Mom Blog Round-Up: May 26, 2009 -

» Mom Blog Round-Up: May 26, 2009 - — Tue, 26 May 2009 15:42:39 +0000

[...] timely topic: PhD in Parenting talks about explaining the recession and teaching financial literacy to [...]

By: Her Bad Mother

Her Bad Mother — Tue, 26 May 2009 01:32:49 +0000

Thank you for this. Between the confessions and the exhortations to band together and help each other, we still need this: advice. Simple tips on how to navigate the recession as parents.

Thank you. Really.

By: Rosie Scribble

Rosie Scribble — Sat, 23 May 2009 20:29:44 +0000

My daughter is 5 so doesn’t understand a great deal about the recession, but she has learnt that she can’t ask for whatever she wants and get it, the recession has helped us both learn the value of money a lot more. I think it’s important to communicate with children about everything, not just money.

By: mother in israel

mother in israel — Sat, 23 May 2009 19:29:25 +0000

Thanks for including me. Nice selection of links on a very relevant topic.

By: Rebecca

Rebecca — Sat, 23 May 2009 18:18:21 +0000

Great post, and a good reminder that sometimes being open with our children is a much better approach than trying to hide the truth. They are smarter and more aware than we give them credit for, and no matter how we think we are talking about things when they aren’t ‘listening’, little ears hear so much. I think it’s better to be open so they know that their fears and concerns can be expressed, rather than them worrying on their own.

My children are too young to understand the recession, but I’ve started combatting consumerism. I don’t buy everything he asks for, don’t reward with items etc. In fact, my son has never thrown a temper at check out in an attempt to get something. Let’s hope that stays.

Another wonderfully, well-researched post. Thank you

By: Tim Atkinson

Tim Atkinson — Sat, 23 May 2009 14:08:06 +0000

Personally, I think the best message for all our children is that money can’t buy everything. Moreover, the fact that we’d all become so bound up in the business of making and spending it, we came to think it was the answer. It isn’t. Shopping isn’t recreation. I’m talking means, and ends here…