Should Kids Know How Much Their Parents Make?

Talking openly about household income can help older children understand budgeting, saving, and the true cost of everyday life. Parents can tailor the details to a child’s age and maturity while keeping adult financial worries in perspective. (Pexels).

At some point, many kids ask a question that can make even financially open parents hesitate: “How much money do you make?”

You could answer with the exact number. You could dodge the question. Or you could use it as the beginning of a much more useful conversation about what a paycheck actually has to cover.