Oct

16

Single Mothers and Money: Do We Tell Our Children When We are Financially Strapped?

Posted by singlemom

October 16, 2008 |

Admittedly, I have been worried about our financial outlook for the near future as of late. I had been (mostly) out of work for over a month, and then was only earning between $100 and $120.00 a week. With winter coming on, I wasn’t sure we were going to get through.

This made me wonder about other single mothers and their financial situations. I like to think that many of you have a job that pays more than I generally make, but I know that some of you do not. It is hard to think about not having enough money to get you through, but it is a reality for many.

I do different things to earn money. I babysit, keep this blog, and offer other assistance when I can. I sometimes type for people, watch their cats when they are away, or clean for people. I have even been known to help people organize their things or pack to move.

I earn money any decent way that I can.

A common question is, “Do we tell our children when money is tight?”

We have never had a lot of money, and my children have always known this. But even we have leaner years than normal sometimes. Young children do not need explanations but, when they are old enough to understand it is a good idea to start talking to them, at least minimally, about your financial situation. It is enough to say that you just don’t have the money to buy, or to do, certain things.

When they are a bit older, they can learn frugal habits, especially if you already live frugally. My nephew is eleven, and (living at home) daughter is sixteen. They know full well that money is too tight right now, and what the implications of this situation could lead to. At this point, they aren’t even expecting real holiday gifts, though they will each be getting a few small things. And their stockings will be filled.

Today I began babysitting a couple of more children, so things are looking up a little. I should at least be able to keep the bills paid and provide the food we will need. There won’t be too much extra, but I have my ways of treating them.

I do believe that we should be as honest as possible to our children about our financial situations. They do not need an exact dollar amount or anything, but they do deserve our honesty.

What are your thoughts on this matter?

Shannon


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