Topic Guide
What Is Children and money?
Children and money is a subject covered in depth across 1 podcast episode in our database. Below you'll find key concepts, expert insights, and the top episodes to listen to — all distilled from hours of conversation by leading experts.
Key Concepts in Children and money
Share don't scare
A principle advocated by Rachel Cruz, this framework advises parents to be transparent with their children about family finances and budget adjustments without causing undue anxiety or fear. It suggests communicating changes in a calm, factual, and reassuring manner.
What Experts Say About Children and money
- 1.Rachel Cruz's principle "share don't scare" guides parental communication about financial cutbacks to children.
- 2.Parents should explain financial changes as making "good decisions with our money" rather than dire warnings about consequences.
- 3.Acknowledge past financial missteps by framing current actions as "undoing them" and managing money "more carefully."
- 4.When explaining budget cuts to young children, keep the message simple and brief, as "less is more."
- 5.Children "move on very quickly" from conversations, so avoid lengthy explanations or "seven minute diatribes."
- 6.Reassure children that despite changes, "we're okay. It's just a change."