Is it good to share to kids your business profit?

[Starmix]

I believe that it is not good to share with kids the family's business profit. If they learn the figure, they might share it with their friends and we already know the danger if the info will be heard by bad ears. If the kids are big enough and ask for updates about the business in terms of profit and gain, it might be good to share with them the figure so that they will be encouraged to do business of their own once they plan to settle down. Just take note not to share with them your tactics, business plans, and strategies. What do you think?

 

[Stardom22]

For me l don't think that l would do that directly but l will maybe buy something and give to them. l prefer giving children some goodies rather than money.

 

[Starmix]

It's not good to pamper the kids with cash. They will get used to it and may not realize the value of money. It's good to buy cookies or fruits.

 

[eLdavis]

Personally I don't think there is any need for this. Me telling them the profits I get would not help them do better in school or profit them in anyway, so there is actually no need.

 

[arunima25]

If the children are too young, there is no need to share about our financial profits be it from a business or job. They are too young for these things and it would be an unnecessary thing to do. Yes, importance and value of money should be taught from a very young age in an age appropriate way and by being the role model. If the children are grown up, one can share on the need to know basis a few things that might help them get the knowledge and responsibilities about the business and financial understanding in general. Big children will have the responsibility to not share it with friends and others. Parents have to remind them about the same.

 

[Starmix]

There are curious kids and they will wonder about the source of come of other parents. They will surely know they are doing business but the question is what is their business. They will ask their parents and since they are curious there is no reason why hide it to the kids.

 

[arunima25]

Yes, children are curious after a age to know about the source of income of their household. Parents should talk to them and let them know. In fact this is a very good way to introduce children to various professions and businesses. This helps them a lot in choosing a livelihood for themselves later. This would also help them to learn to value and respect money as they will see it as an outcome of hardwork of their parents.
But talks should be age appropriate and not like a boasting. Children should be made to understand that few things are confidential and should not be discussed out of family.

 

[Starmix]

Children also have the right to know from their parents mouth about their business. They might hear it from other source that may disturb them, so better let them know.