How to Talk With Kids About the Government Shutdown
NEW YORK ( TheStreet) -- With the federal government partially sidelined and the federal debt ceiling at its limit of $16.7 trillion, things look problematic for the U.S. economy and for those kitchen-table heads of family who have to pay the bills and generate an income.
The government shutdown began Oct. 1 (as did open enrollment portion of the Affordable Care Act, also known as Obamacare.) Next up: Oct. 17 is the drop-dead date for Congress to lift the government debt ceiling or face the reality of the U.S. government defaulting on paying its bills.
How should families be reacting to these political and economic headwinds?
Gregg Murset, a certified financial planner and the father of six, says parents should have a conversation with young ones, at least to dispel some myths linked to the current government economic woes.Murset, founder of the website myjobchart.com, which helps parents organize their kids' household chores, says there is no shortage of Chicken Littles yelling that the sky is falling again.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV