I aksed my virtual teen group how the financial crisis is affecting them. Here are a few representative responses:
"It scares me that I might not have the same fortunate living that I do in my parent's house and that doing the things I love may not work financially and I'll have to get a job fo the money and not the interest. I also worry that I won't be able to give my children the same or better education that I have and I worry that they will feel scared too. With the financial crisis, my goals will be set back to simply paying the bills."
"I'm scared that I might not get to go to college or get a job. In one of my classes we recently talked about low-wage jobs becoming non-existent because of the bad economy. How can I go up the ladder if I can't get on it in the first place?"
"I worry about my parents losing their jobs."
"I don't want my parents to lose their job and then we'd have to sell our house."
"I hope my parents can afford to send me to a good college."
Do you have a question for our virtual teen group (aka Secret Sources)? Post a question in the post comments section. Talk to your teen about the financial crisis. Ask if she has questions. Strike a balance between fostering confidence and honestly answering questions. See the post How to Talk to Kids About Money in the Money Talk blog archives.