A difficult economy. Tight budgets. Very little job security. The current financial crisis facing America is an issue for adults‚ but one also felt by children.

“Childhood is often thought of as a time of innocence‚ but children take on the stress and worries of their parents very easily‚” says Christy Kleinsorge‚ PhD‚ a Clinical Psychologist with the Developmental and Behavioral Sciences department at Children’s Mercy Hospitals and Clinics. “Children are not able to fully understand financial struggles and other adult issues. Conversations about those topics should be held out of children’s earshot.”

It’s important to be honest. While you shouldn’t burden your children‚ you can utilize the financial crisis to have age-appropriate discussions on the family budget. Share how changes are necessary‚ explaining what differences they may see on family entertainment‚ daily meals and other activities that must be compromised in order to save money.

Because children are aware of our stress and notice changes in their daily lives when our budgets shrink‚ they should be given concrete information about how their family’s spending will change. Developmentally appropriate explanations of the reasons for changes can be given‚ while providing reassurance that as their parents‚ you will continue to be there for them‚ and meet their needs.