Parenting Expert Denise Daniels Offers Tips to Help Families Ride the Emotional Rollercoaster of Frightening Economic Times

Noted parenting authority Denise Daniels says the recent tumult in the financial markets is “a teachable moment of epic proportions” for families.

“Tough economic times are also opportunities for families to learn how to survive an emotional rollercoaster,” says Peabody Award winning broadcast journalist Daniels, whose calming parenting advice has been familiar to television and radio audiences for many years. “We all hear the reports that people are angry that big companies are getting bailed out while ordinary folks are not. They are terrified they won’t have enough money to support their families. They are worried that they will lose their health care coverage or not be able to afford it at all, about downsizing and being out of work, about losing their homes or access to college loans. It is a genuinely troubling time.

“Children inevitably get concerned when they hear the sometimes panicky reports of companies going bankrupt and watch video clips showing people removing their belongings from offices in cardboard cartons,” says Ms. Daniels. “Parents are subject to enormous pressure in times like these when nearly everyone is impacted by the current financial difficulties. This is a teachable moment of epic proportions.”

Adults in families impacted by job loss, mortgage foreclosure or other economic catastrophe should seek adult support for themselves. “Don't under estimate the importance of sharing your experience and fears with others who understand,” says Ms. Daniels. “Whether it's a loved one or counselor, talking about it can help ease the burden.”

It is important that parents try to maintain structure in their personal lives. “Designating specific times of the day to organize finances, review options and seek alternative employment will provide a sense of empowerment that will keep you from feeling helpless and that your life is spinning out of control,” she says.

Parents should bring a financial crisis at home down to family realities children can understand – that holiday presents may be less elaborate and expensive, that the family may spend less on extras, and so forth. Ms. Daniels offers the following tips on how to explain the current financial crisis to children:

• The troubles these companies are having are real, but they do not directly impact the safety of your family. Children are intuitive and perceptive. Trying to protect them or hide them from stories in the news or in the living room will only add to their confusion. Remember, what's mentionable is manageable, so provide age appropriate and accurate information.
• Hold regular family meetings. Encourage children of all ages to express their feelings, worries, or concerns by creating an environment that is conducive to feeling comfortable. At the same time, explain how and why family finances have changed and what that will mean individually to each member. Use this opportunity to talk calmly but honestly about expectations and anticipated life style changes.
• A financial crisis is an opportunity to teach values. In today's society money problems, job losses and financial uncertainty seem to be the rule, rather than the exception. Now is a time to talk about what is even more important – how family members can help one another in difficult times. Discuss ways children can be of help during this time of transition and encourage them to feel they are making a contribution. The invaluable life lesson here is that self-worth trumps net-worth.
• Provide honest reassurance. If you’ve lost a job, children need to feel your confidence that in time people will find another. Let your children know that no matter what is going on, they are safe and you will always do your very best to take care of them. If you have lost a job, tell them honestly how their lives will stay the same and what will be different.
• Take time to play together. Planning a family fun night or other activity will help children feel connected and secure. Enlist the children's help when planning activities as this will help them feel involved and valued. Remember, the "jobs" of children are to study hard and play! Above all, let your kids know that no matter what happens, they will be all right!

About Denise Daniels:

Denise Daniels is a Peabody award-winning broadcast journalist, child development authority and author whose specialty is helping children and parents deal with emotions. Her books from BantamDoubledayDell and Workman have reached more than 10 million children. She was sent to South Asia by the U.S. State Department after the tsunami to help affected children, a role she also played following Hurricane Katrina and has consulted with the United Nations, First Lady Laura Bush and Senator Hillary Clinton on children’s issues. Denise has earned an outstanding reputation for her ability to deliver concise assessments and commentary on issues relating to the emotions and well being of children, making her an in-demand resource for parents and media alike.