I’ve written several kids and money articles, but this is my first story about adult children and money. Money magazine is currently seeking reader input on the following question: “Should you tell your adult children about your finances?”
“For an upcoming story, Money would love to hear from you on what you have — or haven't — shared with your kids about your personal financial situation. We'd like to know why you chose to talk to them about it, or why you haven't. Do you have a philosophy about familial financial disclosure? Has your experience with your own parents affected how you handle this subject with your kids?”
As parents, my husband and I have had to tackle the money questions from our kids. How much do we make? How much do we have? Do we have enough money? Can I have $100? Yes, my 8-year-old daughter asked for $100. My answer was a chuckle then a quick “No.”
As adult children, we also have conversations about our parents and finances. I’ve grown up in a fairly open family and so I have an idea of what is going on with my parent’s finances and likewise, they have an idea of what is going on with ours. However, I know that not every family is as open with family finances as mine is, so I’m looking forward to the Money story on the topic.