Money can be emotional for kids, teens and adults. 

Money can make us feel angry, happy and excited – sometimes all at the same time. 

Our emotions are very powerful tools and can affect us in so many ways. 

Today we will be talking about five money-related emotions your child will eventually experience and how you can help guide them through the rollercoaster. 

Anger:

Have you ever missed out on a 50% off sale?

Have you ever overpaid for something you didn’t even like?

Have you ever gone over your weekly grocery budget?

I sure have, and I bet you have as well. I can tell you from personal experience, those moments can be very frustrating. 

Your child may not be experiencing those specific examples, yet.

But it’s only a matter of time until something money-related makes them angry. They may misplace their babysitting money or miss out on a great sale at their favourite store. 

Anger is a basic human emotion and is nothing to be ashamed of.

It’s normal to want to hold anger in, and hope that it will eventually pass.

But you know what? Anger should never be repressed. The longer you ignore your anger, the more intense it will become. All you have to do is teach your child how to express their anger in healthy ways.

Deep breathing, counting backwards from ten or going on a short walk can be very relaxing and help dial down anger. 

When we’re angry it’s hard to differentiate feelings from facts.

Once your child has taken some time to cool down, the two of you can sit down and have a conversation. 

Even if nothing gets solved that day, talking is a great first step. 

Anxiety:

Your child may be more worried about money than you think. You’ll never know for sure what they’re feeling unless you ask.

They may be worried they aren’t saving enough.

Or on another note, they may be worried they aren’t spending enough. 

It never hurts to check in with your child from time to time and ask how they’re feeling. Their answers may surprise you. 

Excitement:

Saving, earning and spending money can be very exciting.

Think about it. How excited were you when you got your first babysitting job? 

How excited were you when you saved your first $100?

Yes, money can be exciting, and that’s a wonderful thing. Your child should be excited and proud of their money habits. However, it’s important to make sure your child doesn’t get too carried away.

Just because they have $20 in their wallet does not mean they have to spend it right away. 

Regret:

We all buy things we regret. 

The next time your child purchases something they regret, remind them that it happens to all of us and is nothing more than a life experience.

You can even share some of your own money regrets with them. It can help them feel less alone. When we make mistakes, it’s very important to forgive ourselves and move on. We are only human.

Jealousy:

You may think that only teens and adults experience jealousy, but that’s actually not true. Children experience jealousy too. They may be jealous of their friend’s toys, allowances or even clothing. 

Trying to keep up with what’s trendy can be exhausting. Even though it is much easier said than done, we all need to live life in our own lane and not compare ourselves to others. 

Sometimes we can forget just how lucky we are. Practicing gratitude and mindfulness can help remind us.