Financial Friday: How to discuss financial changes with your children

Talking financial changes with your children

HUNTSVILLE, Ala. (WAFF) - The pandemic has served as a recent reminder of just how quickly life and finances can change.

Pay cuts, job loss, and debt are all hard topics to digest even for adults. So, of course, talking to children about these changes is difficult.

WAFF spoke to Patricia Lloyd at Redstone Federal Credit Union. She offered the following tips for families:

  • Prepare for and schedule the talk with your children
  • Be honest, and stay positive
  • Keep the channels of communication open
  • Find ways to have fun while saving money
  • Talk to Redstone’s financial counselors for additional resources

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