This is purely from the thing that is happening with the people around me, so there might be some correlation to some of you, or it might be not correlated at all, or having different views or experiences.
How much should we open with the financial condition of our livelihood toward our children? Or should we open at all to the kids about our financial condition?
My parents was really open about the struggle that they have, and also the financial condition that we were facing back then. At least it teaches me a lot of things, to know how hard my parents were working to make my life much better, how they struggle a lot just to send me to school. At least back then, I know what we can afford, and what should we prioterize, and help me to be much more responsible financially at this point of my life.
Now, the things was a lot different in my uncle household, as he doesn't want the kids to know the financial condition that he is facing at the moment. The issue that I see is that my cousin seems to not understand what their parents are facing at the moment, the struggle that they have to go through. meanwhile, the kids are spending quite lavishly, as they are still in school, one in the Senior High, an the other one is in the last semester in the University.
It is sad to see my uncle, but it is the things that he chooses to do. So what do you think, does it is important to teach your kids financial condition at home from early stage, or just let them be to learn about it by themselves?
I think children in the fifth grade should start dealing with the topic and receive a proper lesson on it. At least here in Germany, there will soon be no more pensions, and learning how to invest money and not just spend it on consumer goods should be a subject taught in school.