The Parent Book·From the library
When Money Is Tight
For parents whose family is under financial strain, and for any parent wondering how much to tell a child about money.
A 27-minute read · Published 28 October 2026 · Reviewed by the practice
Children notice when money is short. In a survey of more than two thousand families across the UK in 2023, one child in five aged between ten and seventeen said they always or often worried about how much money their family had. In households where the parent was finding it hard to manage, nearly two children in five said so.
Much of what children notice is what happens to the adults. They see a parent who is shorter-tempered than usual, a conversation that stops when they walk in, and a holiday nobody mentions any more.
This chapter is for parents whose family is short of money: a job that has gone, a business in trouble, the cost of a separation, debts that have grown faster than anyone expected, or school fees that became much harder to meet once VAT was charged on them. It is also, more briefly, about how children learn to manage money of their own. It doesn’t give financial advice; it names the free services that advise on debt and money.
Put it into practice
What this chapter looks like in practice: one-minute ideas for tonight and things to do together.
Quick tipsOne minute each
- When the School Fees Become Hard to PayBursaries are limited and every school sets its own rules, so the conversation with the bursar is best had early.
- When Your Child Feels Poorer Than Their FriendsTake the envy or embarrassment seriously, and don’t run the other family down to make it better.
- Pocket Money That Teaches SomethingGive it regularly, let your child decide how to spend it, and let the mistakes happen.
Ten quick tips on this in the library
The quick tips and activities are for subscribers. What a subscription includes.
Who else can help
StepChange Debt Charity
Free debt advice by phone or online, and a short guide to telling children what the household cannot afford.
0800 138 1111 · Mon-Fri 8am-8pm; Sat 9am-2pm
Outside those hours the line is closed. Samaritans answer at any hour on 116 123, and Shout answer if you text the word SHOUT to 85258.
Turn2us
A free benefits calculator and a search for charitable grants your family may be entitled to, including grants for a child with a disability.
Coram Family Lives
A free, confidential helpline for any parenting or family worry, by phone, live chat, WhatsApp or email, staffed by trained family support workers.
0808 800 2222 · Mon-Fri 9am-9pm; weekends 10am-3pm; closed bank holidays
Outside those hours the line is closed. Samaritans answer at any hour on 116 123, and Shout answer if you text the word SHOUT to 85258.
coramfamilylives.org.uk/how-we-can-help/confidential-helpline
