How Much Money Do You Make?

Love this question!

So for those who have not yet gotten this question, some things to ponder:

• Younger kids probably don’t know the difference between $1,000 and $100,000, so you may be able to settle the issue by letting them know that you make enough for them not to need to worry about running out of money.
• For older kids, try explaining what it costs to keep the household up and running, which will at least give them a baseline number (you can explain taxes later). That begins to teach them about budgeting.
• The old-fashioned among you will tell kids that it’s none of their business. I don’t buy that. Kids worry about money, and shooing them away and telling them not to worry about it probably won’t put them at ease.
• And you should be aware that a wily teenager may be able to look up your salary online if you work for the government, a labor union or a nonprofit group. Kids can also dig up mortgage information or estimates on what your house is worth.

How have you handled this question with your kids?