I’ve worked and saved, and it’s all for my kids, but I kinda don’t want them to know they have money coming. What’s the line between living the good life in the present and investing in the future?
How honest are you financially with your family?
r/AskMen
Comments
That’s not really a question anyone can answer but you. Tomorrow isn’t guaranteed, but it’s most likely going to happen. You have to find that right split.
I’ve always been pretty open, never mattered to me
Depends on the kid. If I tell my kids I have $20, they each can find a $30 problem. Having discussions about how wasteful consumerism is, budgeting, investing, etc. is a different subject than what’s in the bank.
If talking outside my household, I don’t. My extended family and in-laws don’t need to know anything about my finances.
Depends who the family is. Some don’t know anything. Since know a bit. Some know everything.
As much as you want them to know. Just know you can never un-ring that bell
My goal is to say “absolutely none of your business” all the way up until she fills out applications for college financial aid. We’re middle-class, kid, same as everybody else in this country.
Everyone is different. If I have kids, im 35 so I am on the fence, I am never going to let them know how much money there is. I grew up broke, we had a roof over our heads and food in the fridge, so better than most, but my mom was paycheck to paycheck. I had to work for everything I have, and im proud of that. I dont want to raise spoiled kids who think just because their parents are doing well that they will never have to work hard for what they want.
Teach them how to budget and financial responsibility. That is your job.
My wife? Completely. My kids? They’re college age, so they get a vague report on if things are good or bad if it’s relevant to the moment.
My wife thinks I’ve got a lot less saved than I actually have. Makes me feel more secure incase she walks out.
Only my wife and I know our finances.
Money coming? I let my kids know I’m fully supporting them through college, but once they graduate, they’re “off the payroll” and I’m spending the rest on myself, likely to retire earlier rather than later, probably running low or out by death.
The point of college is to make themselves sufficient, so they’ll struggle if they choose a shit major.
My wife and I will do what we can to give our family a good life, within reason. However, our kid(s) will never know our finances, good or bad.