Should parents discuss their financial liabilities with their children?
Do you think it essential for parents to explain to their children if they have a financial problem so that demands are not made? Or should they hide such an issue?
Today's children who are as young as ten also understand the value of money. However, some children ask their parents to buy them costly items which they are unable to afford. But some parents borrow money and get the things their offspring want. For example, smartphones and laptops are the most wanted items even the lower-middle-class children want to possess. Children of the middle and higher classes have much higher demands. How do parents say no to their requests without hurting them? Should they discuss with them when they face a shortage of money? What is your opinion?