Economic Stress Impacts Kids, Too

BOSTON -- It's not easy coping with these difficult economic times and sorting through the ever changing news, but what about children? Parents of some older children said their kids know all about what's going on.

"My husband works in the financial markets. Every night dad tells them what's up. They're pretty aware of what's going on," one parent said.

Dr. Gene Beresin said that's true for most children, and they need our reassurance.

"Above all, kids need to know they are safe, protected and they will be OK," Beresin said.

Experts said to keep in mind what you tell a 5-year-old will be quite different from what you tell a teenager.

Beresin suggests shielding younger children from the news, but thinks watching TV with kids 10 and up can spark helpful discussions.

"Ask them what worried them, what are they afraid of. Get a sense of where they are at," Beresin said.

When it comes to your financial situation -- be honest.

"Kids understand belt tightening. If the parents handle it with confidence and reassurance, kids will follow suit," Beresin said.

Kathy MacDonald has taken that open approach with her five children.

"They understand the market goes up and down and that you have to wait it out," she said. "I think they're curious if Congress will work this out. It's a great educational time for kids to see the country."