Yes, there are days that I believe I should be given a “time out”, and I wish someone would send me to my room with a blanket and a book. In all honesty, however, someone has to be an adult in a family.
And this is so very true when it comes to money. You can define “kids” any way you want–children, spouses, intruding family members and friends. But there are certain things about money that “kids” don’t need to know. They do not need to know your salary. Why do they need to know your salary! They are kids, and their concept of money may very well have to do with their age. They do not need to know which parent makes more money! If you want to set the stage for crazy thinking, tell a child their mother makes more than their father, or vice versa, and you are asking for trouble down the road when they want to leverage information for their own purposes. They do not need to know what is in your 401k or your investment accounts! As we all know, markets fluctuate, emergencies occur, and kids will keep the biggest number in their minds! You are only asking for trouble! And this one is really “rich”: do not portray any relative, friend, or neighbor as being “rich” or a “deadbeat” or any derisive term dealing with their earning power or status. Kids do repeat the darnedest things. Many of the above mentioned situations can cause or add to family dysfunction. They do not need to know what a gift cost you.
But more than anything, they do not need to know what worries you about money…That is probably most problematic. And you, as the adult, are in charge of worrying!