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re: Parents of the OT: Do you tell your children how much you make?
Posted on 1/30/15 at 10:38 am to anc
Posted on 1/30/15 at 10:38 am to anc
Yea, I have told them and we also talked about bills and the cost of living and retirement as well. They appreciated it. I noticed they started thinking more about being responsible concerning my money and theirs as well. 
1
Posted on 1/30/15 at 10:40 am to ZereauxSum
That is a cool idea. Too bad I am OT poor and don't have 10k. Or kids.
Whateves.
Whateves.
Posted on 1/30/15 at 11:39 am to anc
My kid has always been informed about our finances. He enjoys living the way that we live. And he has a full understanding of how much money one must earn to live like that. He is also well informed about the link between that and education. He also knows that happiness in your occupation is as important as income, and that a good education will allow you to choose any occupation you want rather than having your options dictated to you.
Posted on 1/30/15 at 11:44 am to anc
I always try to translate shite my kids want into hours. $300 laptop @ $20/hr equals 15 hours worth of work. It puts monetary items into context for them. Either I will have to work X number of hours, or their mother will, or they will.
Posted on 1/30/15 at 11:45 am to Yewkindewit
No, my ex doesn't need to know that.
Posted on 1/30/15 at 11:53 am to ZereauxSum
He lives in California so 120k is probably something worth bitching about
Posted on 1/30/15 at 11:58 am to 911Moto
quote:
My kid has always been informed about our finances. He enjoys living the way that we live. And he has a full understanding of how much money one must earn to live like that. He is also well informed about the link between that and education. He also knows that happiness in your occupation is as important as income, and that a good education will allow you to choose any occupation you want rather than having your options dictated to you
That is all I hope my kids walk away with. They are welcome to become english majors or teachers, but understand that comes with consequences.
Posted on 1/30/15 at 11:59 am to RandySavage
quote:
Why is it such a taboo subject?
It's not that it's taboo for family to talk about it, but since kids generally don't understand the concept, it doesn't do any good to tell them you make 10K a month, but they can't have a 60 cent candy bar
Posted on 1/30/15 at 12:07 pm to Mizzoufan26
quote:
So this guy makes 120k a year and is still Bitching about money though
Where he lives, it may not go very far. Housing is ungodly in coastal California towns.
Posted on 1/30/15 at 12:11 pm to anc
Haven't thought about it yet.
There are probably better ways to teach your kids the value of money without telling them how much you make. It probably makes more sense for the household that grosses 75k than the one that grosses 250k. Hard to convince a 12 year old you can't afford a PS4 when you are making a lot.
There are probably better ways to teach your kids the value of money without telling them how much you make. It probably makes more sense for the household that grosses 75k than the one that grosses 250k. Hard to convince a 12 year old you can't afford a PS4 when you are making a lot.
Posted on 1/30/15 at 12:15 pm to Martini
quote:
She has been told this from about the age of 7 and if something happened to my wife and myself she will at least know where everything is
It's called a will. You aren't Tony Soprano.
Posted on 1/30/15 at 12:20 pm to TheIndulger
quote:
He lives in California so 120k is probably something worth bitching about
Well there you go. I would have won that bet
He makes more than I do, but after adjusting for cost of living I'm likely better off than he is, and I can tell you that it ain't easy with kids and being a single income earner.
Posted on 1/30/15 at 12:26 pm to anc
Nah
2 years old is really early to be disappointed in your father
So I think I'll wait
2 years old is really early to be disappointed in your father
So I think I'll wait
Posted on 1/30/15 at 12:26 pm to ZereauxSum
This exercise wouldn't go so well for us when the pile that mommy and daddy are putting away for themselves after the kids were gone was bigger than the other piles.
"What about all that over there?"
"As far as you are concerned, that money doesn't exist, punk."
"What about all that over there?"
"As far as you are concerned, that money doesn't exist, punk."
Posted on 1/30/15 at 12:28 pm to anc
I never knew how much my parents made or any of my siblings. I knew we were well off but that was it. Discussing pay with someone other than a spouse or significant other is in very poor taste IMO.
My GF's uncle's family always tells us how much everyone is making and how much the new house cost etc. I consider it trashy.
My GF's uncle's family always tells us how much everyone is making and how much the new house cost etc. I consider it trashy.
Posted on 1/30/15 at 12:28 pm to CaptainPanic
quote:
I don't even tell the IRS how much I make.
FIFY
Posted on 1/30/15 at 12:40 pm to BoominHogtown
It's called a trust and if we die she knows where everything is. And yes it is included in our will. And she is smart enough to know what's going on because we share with her these things. Why hide it from your kid unless you think they will kill you.
Posted on 1/30/15 at 1:17 pm to Aubie Spr96
That's how my parents gave things value growing up.
Oh you want a new video game?
50$/ my allowance. They even broke down how much time I spent doing each chore and how much of a percentage it was responsible for in my allowance.
My dad used to equate paying for big things (cars, travel ball etc.) in hours worked to make his point.
Oh you want a new video game?
50$/ my allowance. They even broke down how much time I spent doing each chore and how much of a percentage it was responsible for in my allowance.
My dad used to equate paying for big things (cars, travel ball etc.) in hours worked to make his point.
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