The economic recession have hit many families hard, and children would naturally become concerned when they find the parents do not have the means to look after them..The basic thing the parents should do in such an eventuality is assure the child that things will work out fine and return to normal soon. Money problems usually lead to conflicts or fights between the spouses, and this can psychologically disturb the child. It is that such conflict do not happen in front of the child, or affect the spouses behaviour with the child in any way. Parents should ideally make it a point to explain that adults sometimes disagree and reassure children by making up in front of them.
Children wanting to buy an expensive video game when the money situation is tight is common. Instead of flatly denying or scolding the child, the parent should make the child understand what resources are available for recreation, food and clothes, and then train the child to make options by themselves. Teach the child to weigh the advantages and disadvantages of each option and if the child is old enough, let him or her make their own conclusion. If the video game or the other expensive option is turned down, always provide the child with an inexpensive option, even if it means a stroll through the park over a packet of popcorn.