Current Economic Crisis Tips for Parents

Involving Your Child

Tips from the Washington Society of CPAs

When possible, reassure your children the family will be okay. Do not lie to the children if the situation is dire, but do put as much of a positive spin on it as you can. It will help children adapt under stress and anxiety.

Engage children in activities that will allow them to help their family and others.

1. Have children look for ways to save electricity.
2. Encourage children to help the family look for bargains on food and necessities.
3. Establish a regular time for family meetings to discuss household finances.
4. Have children look for items, toys, clothes they no longer use or wear and give them to a charity for those less fortunate.
   1. Kids can learn a lot about wants and needs by focusing on what others have to live without.
5. Make a game of saving money.
   1. How much can the family save by renting a movie instead of going out?
   2. How much does their favorite home cooked meal cost versus eating out?
   3. Find occasions where you can carpool to save gas money? Walk, or ride a bike to destinations close to home.
6. For this Holiday season (and for all the holidays next year).
   1. Think about homemade gifts such as baked goods, pictures, poems, knitting, sewing.
   2. Give your time; such as a picnic, making dinner, going for walks together.
   3. Give a service which can save money; babysitting one night for free, mowing the lawn, doing dishes for a week, cleaning the house.

Helping the children feel they can contribute will give them important skills for their future and lessen the fear that can be caused by bad economic news.