The current economic meltdown struck not only the business industry, but families as well. And because of this, families had to make necessary adjustments in order to keep up with the tough times. As much as possible, you want your kids to be sheltered from your financial crisis. Having to inform your kids about your current family crisis even makes the whole financial problem harder than it already is.
A little honesty won't hurt. You may think that hiding the truth from your kids will protect them from the effects of your family's financial crisis, but you are wrong. Kids know when something is wrong in your home, because they can notice sudden changes in your behavior. It would be best to explain the financial crisis that your family is going through, because your kids will finally find out about it in the long run. And they would appreciate to hear the news from you and not from other people.
Keep an open communication. Listen to what your kids have to say regarding your family's financial crisis; because they might have suggestions that can help you survive the crisis. If in case they feel embarrassed about your situation, tell them that they are not alone, because other families experience difficulties too.
Set a budget. Tell your kids that your family has to cut back on expenses. Your kids might find it hard to accept the need for budgeting especially if they were used to your family's luxurious living. Explain to them why you have to cut costs and assure them that you are doing your best to get your family out of the situation. Involve your kids in financial planning if possible, so they can have a better understanding of the issue.
Support each other. In tough times like this, your family needs to stick together to work hand in hand in solving your current financial crisis. Your kids might worry about not having a birthday party since your family is on a tight budget. But you can still celebrate tour child's birthday by taking advantage of cheap postcards offered by online printing services. Ask relatives to write messages to your child and give the postcards to him on his birthday.
Avoid conflicts. No matter how difficult your situation is, never fight with your husband in front of the kids. If you have to discuss issues, do this in the bedroom. Studies show that kids get seriously affected when parents constantly fight during tough times.
The best thing that you can do for your kids is to maintain your healthy relationship with them. You can do simple things together as a family to help you stay intact even in the face of a financial crisis. Bear in mind that your family needs each other in order to surpass even the biggest of problems.