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View Poll Results: Do you tell your kids your salary?
Yes I tell my kids my salary 24 18.05%
Sort of, I tell them ballpark figures 35 26.32%
No, they do not need to know 57 42.86%
Other - always an other! 17 12.78%
Voters: 133. You may not vote on this poll

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Old 02-22-2013, 08:07 AM   #1
jeepgirl30
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Do your kids know how much you make?

My DD kept asking me how much i make exactly. I told her enough that we can pay the bills, do some extras and take a vacation each year. I do review with her what things cost, like electric bill, gas, groceries etc but I do not tell her my salary. To me that is very private info. I don't want her going around telling her friends or my friends.

This morning she got really mad and said her teacher said by this age if the kids don't know how much their parents make there is something wrong.

I never had a clue how much my dad made. Never asked. I knew he worked hard and money had to be managed but I knew i had a roof over my head, clothes on my back and food.

I think the teacher is wrong to make that judgement call. Am i totally off base?
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Old 02-22-2013, 08:14 AM   #2
ilovemk76
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A child does not need to know what the parents make. The child needs to learn how to manage money. Kids need to know what bills cost.
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Old 02-22-2013, 08:17 AM   #3
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my kids are still young so the few times something like this has come up I responded essentially the same as you. I don't know that it will ever be their "business" as to what DH & I actually earn.

What is thier business is that DH & I work together to provide a solid stable foundation for our family and that we also teach our boys sound financial groundings. Its important for them to know how to earn money, how to budget money and how to be responsible with money. Money is not the "end all to be all" however, money does make life less stressful to an extent.
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Old 02-22-2013, 08:20 AM   #4
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I picked other. My kids are too young to understand.
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Old 02-22-2013, 08:27 AM   #5
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They are teens so they could certainly figure it out if they want to. It's not like we hide the statements and they've certainly sat next to me while I was working on the computer balancing our budgets. They just don't really care.
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Old 02-22-2013, 08:34 AM   #6
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I'm 30 and still don't know what my parents make. I don't think it's any of my business.
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Old 02-22-2013, 08:43 AM   #7
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My husband pays the bills. I pay for everything for the kids, dance, gymnastics, private school, competition and travel fees, ect. For about a year I made the boys pay the bills with me. They needed to see that I was working for them and I needed help around the house. It made a world of difference with their appreciation of everything I do. They now thank me when I cook and they help more.
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Old 02-22-2013, 08:51 AM   #8
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DD18 has no clue how much DH and I actually make but she does know we work hard for what we do make. She also knows that we don't make enough to buy whatever she wants when ever she wants.

I never knew how much my own parents made. It was none of my business.
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Old 02-22-2013, 08:56 AM   #9
elaine amj
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No - they don't know. My son has asked a few times and I brush it off with something noncommital like "enough". Growing up, my mom always said we had no need to know. Actually I always thought we made a whole lot less than we did because she was so frugal. I never had all the latest toys or whatever.

I only found out how much my dad made when he had to give me his income statement for some paperwork I had to fill out for college. I only have some vague ideas how much he makes now and really don't consider it any of my business.

Because of everything my mom said growing up, I am extremely hesitant in letting my kids know how much we make. Plus, salary is just not something you talk about. Knowing my son, he would blabber it to everyone everywhere.

We do talk about not spending on something so we can save it for something else. And I constantly say, "no we don't have the money for such and such treat". We travel a LOT though - so my kids' friends think we are rich. I tell my kids, "no - we just spend a lot of time hunting for really good deals".
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Old 02-22-2013, 09:16 AM   #10
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Quote:
Originally Posted by EMHDad View Post
I picked other. My kids are too young to understand.
Ditto. Mine are too young to ask or understand if they DID ask. But if (when?) they do, I'll tell them. Money isn't a super-secret thing to me... if DD wants to know, I can't think of a reason not to tell her.

I asked my mom how much my dad made once & she told me. I was probably late elementary school and didn't really know what "$60,000" meant in terms of richness or poorness. But kids are going to have a ballpark idea whether or not you tell them... I could always tell that my family made a LOT more than some of my friends & less than some of my other friends.
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Old 02-22-2013, 01:55 PM   #11
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Our kids all know roundabout, they have all applied for financial aid for college and know enough to know we make too much to get any! Which isn't all that much considering where we live and what we pay for 3 kids in college at the same time.

When my DD was little she thought the nieghbors were so rich because they indulged their children their every whim. Then the neighbors lost their home to foreclosure, she learned pretty quickly that what you have doesn't always equal what you make or what you can afford to have.
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Old 02-22-2013, 08:23 AM   #12
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My kids are still pretty young....but my preference is that they not know how much I make.
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Old 02-22-2013, 08:27 AM   #13
JamesMom
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My kids are only 7 and 10 and I tend to not shy away from financial discussions, but they do not know how much DH makes. However, they do know how much our mortgage and other bills are and how much we need to save (ie, not spend on the toy/gadget now) to go to WDW this December. My 10 yr old asks about insurance and savings to which I reply yes and enough that if Daddy was out of work for 6 months we would be fine. That is all they need to know.
I knew how much my dad made growing up so I didn't have this mystic around finances. I still made plenty of bad decisions, but I don't have a problem talking about spending/saving and costs of stuff with anybody especially if I got a great deal, but adhere to the social norm of being mum about salary.
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Old 02-22-2013, 08:14 AM   #14
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This is a persoanl decision and I think the teacher is totally off base. Who makes a comment like that anyways, wierd

I never knew exactly what my parents made either and never asked because I thought it would be rude to do so.

My two daughters never asked so I do not think they know or care to know our exact income. My DS13 does know how much we make as my DH has told him. They are both into business and finance and my son even has some money invested in the stock market via my DH. They enjoy this type of thing so my DH has discussed our income, bills ect with him.
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Old 02-22-2013, 08:16 AM   #15
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My kids think we are poor because I always tell them NO when they want things.
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