How to talk with your parents about their finances
Talking to your parents about their finances probably seems like one of the most awkward you conversations you could ever have. I'll bet it ranks right up there with the sex talk your parents gave you when you were a kid — or that you’ve had with your own children.
I grew up in the South, where we don’t talk about money or sex. So when I asked my mom where babies came from, she told me a man and woman "make love". That’s it. That was the extent of the conversation.
I have three kids, so clearly I figured out where babies come from. When my oldest was 10, she asked me where babies came from. I didn’t say something vague like, “A man and woman make love.” I simply told her the basics. She then looked at me – and remember, I have three kids – and said, “Ooh, you did that three times.”
I decided to be upfront with my kids because I wanted them to know they could feel comfortable talking to me about a topic that many people consider taboo. Like the money talk with parents, it’s only as awkward as you make it.
However, unlike the birds and the bees talk, you cannot figure out your parents’ finances unless you actually get the details.
I learned this the hard way.