Parents of children of all ages might like to read an article that appeared in the September 24th edition of The Wall Street Journal entitled “When Tough Times Weigh on the Kids.” Writer Sue Shellenbarger provides a brief overview of what parents may want to keep in mind as they wonder about the impact of the financial crisis on their children. Shellenbarger urges parents to consider the developmental level of the children as they decide how they handle any bad news that comes their family’s way. As she writes, “Amid fallout from the nation’s worsening financial picture, many parents are trying to protect their children… but children are actually silent carriers of family financial stress… They’re not only keenly aware of it, but it makes them more likely to behave badly or develop emotional problems.” Thus, families need to figure out how best to support their children through any concerns they may have, may hear about, or may witness.
Researchers have found that the effects of experiencing significant financial woes “are comparable to those seen in other kinds of trauma, such as parental divorce, when parenting and family stability are compromised.” In the case of financial stress, experts recommend that families find a way to keep close, to work together to solve problems, to do things as a family, and to emphasize the importance of having each other. Much like after horrors like 9/11, they urge controlling the amount of media to which children are exposed. For younger children, they suggest acknowledging that the significant adults in their lives might look like they’re more concerned because of “trying to take care of things at work.” For elementary age students, parents need to factor in that kids are often concrete, “all-or-nothing, black-and-white thinkers.” Older kids may be given “a little more detail, but not too much more,” and it is important for parents to be “positive but realistic,” while giving reassurance about the future and the chance to “envision a better outlook.” For all ages, experts recommend that parents be alert to signs of anxiety and the need for extra reassurance.
While the financial crisis presents difficulties on every front, it also offers us an opportunity to recognize, rely upon, and gain strength from that which is most important in our lives – the people we treasure, the relationships we cherish. That’s not to say that the material is unimportant. But nothing is more precious than our children, and because of them, no matter what the financial downturn brings, every parent in our school is especially blessed.