When you are given lemons, make lemonade, says the old expression.  “That lesson learned long ago has helped me get through the challenges of life, including parenting,” says Karen Nettler, Director of Community Connections at Jewish Community Services.  The meltdown of our economy is a huge challenge we face today.  At the same time, this is an opportunity to teach our children healthy coping skills.  As any parent knows, our children turn to us for cues about how to respond in certain situations.

Difficult to admit, but how often have we sat down with our kids to teach them necessary money lessons?  Are we parents who pride ourselves on giving our children everything they have ever asked for?  Do they carry our credit card for gas and other purchases?  Do we pay their cell phone bills?  If we have been running up the bills on credit cards to buy all those things we “want” and now find ourselves struggling to pay for all those things we need (food, mortgage, tuition, health insurance), what lesson have we taught our kids?  After all, they look to us -like it or not - as role models.  They are more likely to do as we do, and not as we say, because we know very well that our kids have a built-in sensor for the truth.

From a young child’s perspective, using a credit card for each purchase is not much different from using Monopoly money.  Next time you go shopping, tell your child in advance how much money you intend to spend. (There’s that budgeting skill!).  Then bring exactly that amount of cash with you.  You’ll be surprised at how children respond when the real dollars start to disappear in front of their eyes. They start asking, “Do I really need this?  Or, would I rather have that?”  Aha!  Witness the beginning of learning how to prioritize and manage money. 

These skills will not only take children far, but will also help you as a family turn away from focusing on what you don’t have—a basket of lemons—to appreciating what you do have—refreshing lemonade!

By Donna Kane, MA, Jewish Community Services, Baltimore, MD

Jewish Community Services offers a wide range of supportive services and resources for you and your family. To learn more, call 410-466-9200, or visit http://www.jcsbaltimore.org.  Questions about parenting?  Send an e-mail to .(JavaScript must be enabled to view this email address) and check out the Parenting Tip of the Week at http://www.jcsbaltimore.org.