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How to answer the first questions your children’s financial

So be it five or ten years, no age limits to curb the doubts of the smaller, especially when they hit the field of family finances. “Why does my friend travels by plane and not us?” “Why the beggar asks for money?” “If you do not work, we have no money?” The financial questions that children make are simple, experts say, but contain some depth. “Boys tend to be curious about the cost of what they want or are intrigued,” says Susan Beacham, who founded in 1999 Money Saving Generation, an organization focused on educating money management practices in U.S. students. Three years have already incorporated the small monetary concept in their minds, but only to the five “begin to understand the relationship between money and spending,” says Paula Salamanca, pediatric and adolescent psychologist at the Clínica Santa María.

There are cases where the difficulty of answering these questions has a psychological background, notebooks the parents cannot devote the necessary attention to create a strong relationship with their children or “counter the negative values that society conveys about money” Eileen and Jon Gallo says in the book “Children and money: to educate children on the responsibility.” But addressing these questions should not be cumbersome, if parents respond with direct answers and examples. Above all, because the children tend to forget easily what is being said? “In the end, children are generally more intelligent than you think. Your questions are simpler and therefore can be addressed with simple language and examples,” said Alejandro Puente, a former teacher and chief economist at BBVA Research.