Back in the day, the toughest questions kids asked concerned babies, storks, and the color of the sky. But today's children seem to have acquired a penchant for asking more difficult questions. Money matters, in particular, have become a point of interest. It doesn't come as a surprise that many parents are caught off guard when their kids ask them about money.
According to registered financial planner Randell Tiongson, however, there is nothing to be surprised about. "It’s the reality," he explains. "They’re exposed to money in school, with family. Money is a concept they understand as soon as they realize that some of it comes from their parents."
If your kids haven't asked you anything about money yet, it may just be a matter of time. The good news is that you'll be expecting the onslaught of queries and will more or less be prepared to answer them. To further help you face those tough questions, here are four money questions your kids will likely ask you and how you can answer them.
(First published as "Mommy, Can I Have a Hundred Million Billion Dollars" in the "Good Money" section of Good Housekeeping Philippines' November 2010 issue. Adapted for use in FemaleNetwork. Photo by Philip Brewer via Flickr Creative Commons)