When Do You Tell Your Kids How Much Money You Make?

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[irvinsanta]

I found out my Mom w2 13k in a year and I had nothing but respect for her. Never grew up without the basic needs.

[DrogoBaggins]

I know that my father made an upper middle class income for over thirty years and he bragged about making some good real estate deals. And I know that the first dollar I ever saved was a dollar more than he ever saved in his life.

[bd]

My step kids asked me when they were headed to college, their mom never wanted to tell them, I don't know why. Money shouldn't be a secret to kids. They asked me because they wanted to know how much it took to live like we did, not because they were interested in the actual dollar amount. I also showed them how to make a budget to live on.

[danielproulx]

I never knew we as a family where upper middle class until I went to college. Everyone in the neighborhood was like us, everyone at school was like us I just assumed that was how the world was. College was an eye opener for me. The one thing my Mother instilled in all her children was to be kind to everyone. That has served me well in life.

[willelliott]

I emphasize to my kids that a person's net worth is far more important than what they earn.

[cobra]

If you've applied for financial aid for college, you know how much your parents make

[emmanuelgage]

Love the Dave and John duo. They are always in sync.

[MoonMoon-fxop]

I'm not sure a parent has to disclose what they make, but I think it is wise to sit down with the kids and teach them about bills and saving/ investing

[owenhexley]

As a kid, I don’t remember ever being expressly told what my parents made, but they never hid it from me. I think that was a good way of doing it.

[mrlaforgephysics]

This is funny... As a teacher let me tell you... Your kids have a million ways of bragging about your income without knowing the number. One reason you might consider telling them (in high school maybe) is so they can compare the incomes of jobs to the life that creates. Most kids don't know what 50k means cause they can't compare.

[stevebrannon]

This is one of Dave’s best shows. We didn’t tell our kids what we made. I think they sensed it because they had what they needed. We have told them what our net worth is, now that they are in their 40’s. We gave each of them a copy of our trust and a spread sheet of our assets just in case the unforeseen happens to make it easier on them.

[PatGigtainment]

I'm 26 and I still don't know what my parents make. All I know is I make more than my mom

[SevenRiderAirForce]

"There is stress in the air, it is not you, in fact you're the best part of this." Aw jeez man, right in the feels!

[InAllSenSeriousness]

My Parents told me what the plan was if something happened to then. But always stated it's not how much money you make it's what you do with it.

[fabianavalos]

I never asked my parents what they made. We always had a roof, electricity, clothes and food on the table.
Fast forward...my kids never asked either

[Ryan-wpvr]

My parents started sharing financials with me around 17-18 and I’m glad they did. They didn’t make enough for me to brag about it so that wasn’t a worry, but it gave me a good understanding of the value of money for sure.

[ElimitechPest]

My parents never shared their finances with me or my sister and when I became an adult I didn't know Jack diddly squat about real world finances.
I think you need to sit your kids down whether you make a lot or a little and explain things to them

[chrisstevens]

Talking about money with my parents has prepared me more than school ever could. Some of the most valuable lessons are when you get real

[bimmerwman]

For some reason, I never thought to ask what my parents made. I wasn't that interested. I had a great middle class upbringing. I always had name brand clothing. I did find out later when they put me in private high school how tight the budget could get. They gave me one of their old cars to drive and I decided to buy my own with their support. They are the absolute best!!

[C-gt]

Love the daniel story. Anytime we said "my car" in high school, my dad would jokingly respond, "oh, my car im letting you drive?"