Today my 12-year-old son asked me how much daddy makes. How do I have this convo with him? How much do I disclose?

My 7 year old daughter asks me the exact same question a few days ago after she came back from school. She apparently was preparing for a presentation about what their parents do for a living so she was "interviewing me". When she asked me how much was I making, my answer was simply because she wouldn't understand the depth of monies yet. I said, I earn enough to buy everything that she needed, and her toys and her brother's needs. And she understood it. Since she was only 7, she wouldn't the concept of quality yet so I felt that was the best way to answer her. To her $2 makes her rich

Since he is 12, I feel it is time to teach him the concept of how money works in the adult world. You can also take this time to let him know what are the major expenses that Daddy and Mommy have to pay. You could get him to write down on a piece of paper what he thinks Daddy has to pay for i.e. home loan, groceries, TV, utilities etc. You could tell him the full amount; it doesn't matter. If there is a lot of money left after expenses, teach him the importance of saving and investing for the future. That way, he'll develop a healthy mindset towards money.

He's old enough to know that. But if u feel tht it's going to cause him to gloat about it in front of friends where others like peons, security guards, bus driver etc may overhear and cause scheming harm to him, then divulge only half the salary amount or after telling him, explain to him tht it's discretion on his part to avoid bringing this topic up to his friends and revealing home secrets. Tht way he too will learn the importance of having shrewd conversation

Don't let yourself, or your child define value as the same as making money. You have a great opportunity with this question to talk about the non-monetary value that Dad brings to the family. Unconditionally loving and supportive are what a daddy 'makes' . A healthy mindset towards money, is one that has it in correct perspective to all the other things parents bring.

I think you can first find out why is he asking the question to determine how to answer the question. For example, was it related to something he learnt in school? Is he contemplating asking for something? Sometimes, how we interprete a child's question may not be what he/she is asking. Will be good to clarify first before deciding on which answer to give. :)

that's alright - kids are inquisitive, and it is alright for your child to ask such questions. ask your child why this is important and how this info will help. you don't have to disclose the exact amount of course. just explain to him also that money is not always everything, though it is important.

I think a better approach would be to talk to your child about the value of money. Talk about hard work and rewards. I believe when the child asks such a question, he is more interested in the process of making a living than he is about comparing pay cheque and social status

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Whenever kids ask difficult questions, it's helpful to throw the question back to understand where the curiosity is coming from. Ask him why he asked that so you can approach the answer better.