How Do You Tell Your Kids You Are In Financial Trouble? (Episode 208)

It can be really hard to admit to your family that you are between a hard spot and a rock financially. How do you have the hard discussion with them? Dr. Leman tells us on this episode.

LISTEN HERE
Play

There are times in our lives as parents that we really mess up. Sometimes we make bad choices that have an affect on the whole family, but it is really humbling to admit.
Like debt.
Job loss.
Is it right to tell your kids, or do you hide it to protect them?

Debt is never a good place to find yourself. It is a terrible place to be.

And, with your family, you must admit your mistakes.
Humble yourself. Tell the family what is going on.

“I have failed as a model. I made the mistake of thinking things are more important than people.”

This is an opportunity for the whole family to pitch in (depending on their ages). Mom and Dad find jobs. The kids can work as sitters and do yard work. Everyone can pitch in.

Don’t let the shame eat you up. It is time for you to look yourself in the mirror, ask forgiveness and move on!