Family Support Blog #14
How to talk to your kids about the Cost of Living Crisis
As parents we tend to keep financial worries to yourselves, but despite our best efforts, kids often pick up on our anxieties. At this present time so many of us are likely to be worrying about our finances, “How will I cope”, “Things are already tight”. Many children worry about their family finances. However, although prices are rising, there are ways we can ensure anxiety is at a minimum and kids understand more about household costs.
So many children, just like mine, thinks money grows on tree’s, so it is very important we talk to kids about the importance of saving money and spending responsibly. Saving money is not just about the money in our pockets, but the things you do that can save you money, for instance:
- Turning the lights off when you are leaving a room
- Turning plug switches off when not in use
- Switch off devices
- Plugging out your mobile phone once fully charged and unplug from the wall
- When getting dark close the curtains/blinds to retain heat
- Eat out less and have less takeaways
From the points above I bet you’ve all nagged your kids over and over again and feel that your talking to the brick wall. Although you may have to nag about these things, it’s not always that your kids don’t care, it’s probably that they don’t understand that even the small things we do in the home can cost a lot.
Don’t be afraid to Explain
It is more than likely that your kids have heard about the cost of living crisis and also seen in action. The good news is, that those parents that talk to their kids about money and give them responsibility for saving and spending are better at handling financial uncertainly – both now and as adults.
Don’t be afraid to bring up the topic of money and answer your kids questions about finances in an age – appropriate way, as this will reassure your kids that you have things under control and this also lets them know that money fears and challenges can be discussed with you.
Talking about financial difficulties can be a daunting subject to approach with kids, but this current cost of living crisis provides a good opportunity to have conversations around money at home. Rather than hiding kids from financial issues, get them involved with small day to day decisions about money and savings like getting better deals when shopping, ways to save on energy. Teaching your kids about money, and making them aware will help them to understand the wider cost of living situation, and help them to be less worried, and they will also be better equipped for the real deal of adult life.
Help to contain your child’s fears and anxieties
The emotions and anxieties of kids can easily spiral, and they can quickly become overwhelmed. As parents we are sometimes guilty of discussing the cost of living crisis within ear shot of the kids in a worried way, doing this may lead to them believing you have no money and won’t have enough to eat or heat the home. Although it’s important to acknowledge their concerns, you also need to confirm and reassure that all is well and everything is under control.
Make the money-saving process fun
Empower your kids by making them apart of the money-saving process. If you have younger kids, ask them to remember to switch off the lights, turn off the taps when brushing their teeth and wasting less food. If the kids are at the supermarket with you get them to find the cheapest prices on different foods, which will also help them to understand pricing. Rewarding your kids for following the money-saving rules can encourage them to remember.
Parents talk to your older kids about their vampire energy wastage. Vampire devices are electrical appliances that drain power if left on standby or when not in use. Some examples of vampire devices are:
- Gaming consoles
- Computers
- Chargers
- Phones
- Any appliance with a timer or display
If you need to cut down or ditch takeaways, why not make it fun for your kids by cooking meal with them which is similar to the usual takeaways and call it a fakeaway. If your used to having a pizza, make it fun by making a pizza with your kids and allowing them to choose the toppings and shopping for the ingredients.
At the end of the day we are all in this together, and remember to seek help when needed, because we all need help at some point in life.
Our Family Support Team are here to offer support and advice and are running workshops in your school throughout the year so please get in touch if you would like more information contact admin@chexs.co.ukWe are #hereforyou if you need advice, guidance or support – you can contact us via the contact information on our Team page.
Don’t forget to follow us on our social media pages…
