New York University Skip to Content Skip to Search Skip to Navigation Skip to Sub Navigation

NYU Steinhardt’s Balter on How to Talk to Your Kids About the Financial Crisis

September 26, 2008
N-062, 2008-09


The current economic crisis affecting Wall Street could have a profound impact on families with young children, says Lawrence Balter, professor of applied psychology in New York University’s Steinhardt School of Culture, Education, and Human Development. Balter, a parenting expert and author of Not in Front of the Children: How to Talk to Your Child About Tough Family Matters, is available for interview on the subject of how parents affected by the crisis can best talk to their children.

“Your job and financial status have psychological meaning that goes beyond just practical matters,” says Balter. “These are parts of our identity. When they are jeopardized, it is natural to feel apprehensive and worried. Children pick up on parental anxiety. Financial crises also have a direct impact on children if they have to forgo services and goods they were counting on.”

According to Balter, there are some practical ways to help your children weather the financial storm you are navigating. “Don’t pretend that nothing is wrong or lie about the situation. The key is to design your explanations for your child’s age and level of comprehension.”

Balter adds, “Let them know you will pull together as a family. Be reassuring and point out that there are obstacles and setbacks in life, and we will get through this one.”

Reporters interested in speaking with Balter for a specific set of recommendations are encouraged to call Tim Farrell, NYU’s Office of Public Affairs, at 212.998.6797 or email

This Press Release is in the following Topics:
Steinhardt School of Culture, Education, and Human Development

Type: Press Release

Search News

NYU In the News

NYU Received a Record Number of Applications

Capital New York reported NYU received a record 60,322 applications for the class of 2019, an increase of about 15 percent since last year.

NYU Students Help City Crack Down on Hookah Bars

Capital New York reported that NYU students helped New York City crack down on hookah bars that illegally include tobacco in their hookahs:

Rudin Center Study Says Mass Transit Helps Economic Mobility

The Wall Street Journal wrote about a report by Wagner’s Rudin Center that showed that mass transit could be more important than education in determining economic mobility.

Brennan Center Report Says Campaign Spending Has Jumped

Frontline did a piece about a report by the Brennan Center for Justice that said that campaign spending by outside groups has more than doubled in the last five years.

NYU’s Dorms Ranked Among the Best in the Nation ranked NYU’s student residences third in the country in its list of best college dorms.


NYU Footer