Most people find it hard to talk about money, especially between children and their parents. In fact, 57% of parents reported being reluctant to discuss money matters with their children.
Furthermore, another study found that 74% of respondents said parents shouldn’t share information about their kids’ finances with kids under 14 years old, and another 14% said it should never be done.The good news? Many books are available on the subject of money for parents who lack the expertise, time, or inclination to talk to their children about money. In addition to providing a way to facilitate a discussion about money, reading a book together with your children can also help you address difficult topics. An example would be if a parent lost his or her job, or if the family could not afford to purchase a particular item for the child.
