How far it is good to let your children know about partents' debt problems?

You should tell them about your debt problems carefully. They should know the actual situation and how much you are suffering from this problem. In your bad times, your kids may help you with moral support and love.

Don't hide the financial problem to your kids. Tell them that you are facing a financial problem so the whole family should cooperate to overcome the problem. This is the ideal time when you can teach your kids about budgeting.

It's better to give a basic idea about parents' debt problems to kids. No point in hiding because they will come to know about the problem one day. When there are rampant debt collection calls every day, kids can very well guess that there are some problems. It's better to discuss the problem with kids. Sometimes, they can come up with some effective solutions. Plus, it's wrong to underestimate them. They are a lot more mature than what we think. If explained well, they can understand the problem and provide full cooperation to parents for solving it as soon as possible.