Statistically speaking, it’s not that unusual for a modern family to struggle in the area of budgeting. In fact, in lots of homes, a budget doesn’t even exist. Often, this is because money is extremely tight—what’s the point of budgeting, parents might say, if it’s already a given that there won’t be enough money to go around? Isn’t it better to just not worry about it in those circumstances and pay as much as you can in the order bills come due?

In a word, no.

Even if your budget shows that you are “in the red,” it’s still important to make one, because your kids still need to learn budgeting basics. If they don’t, they’re much more likely to overspend and get into debt themselves in the future, because they won’t understand the fundamental ideas of fund allocation, expenditure and income tracking, cash flow and payment planning. That debt can create all kinds of problems, including anxiety from constant creditor contact, the inability to save for retirement and even lawsuits.

Rather than hiding your money woes and using them as an excuse to put off budgeting lessons, use the situation as a teaching opportunity. One of the biggest things you can do if you maintain a budget is to have a meaningful discussion about priorities. Paying the rent or mortgage, for example, is more important than, say, having cable television or a subscription to a streaming service. Including your child in the discussion will help him feel like a real part of the family, and you can learn about what he thinks is important—he might even surprise you with a rather blunt assessment of why keeping something you like doesn’t really make that much sense, and you can work together to brainstorm alternatives that might make the budget more workable. Even if his ideas show a lack of world experience, you can still encourage him to be creative and point out what’s good about his concepts.

Another reason to keep your budget going with your child is that it gives you a way to hold everyone accountable—this is never more important than when there isn’t really money to spare. Your child might discover that he spends most of his money on a particular comic book, for example, or that you spent $20 more than you said you were going to just because you kept stopping at coffee shops instead of brewing a few cups at home. Keeping each other financially accountable is excellent practice for keeping oneself accountable when alone.

Sometimes, allowing your child to be part of a “bad” budget—that is, one that’s in the red—provides the chance to introduce your child to the art of negotiation. Although you should stress the concept of keeping your word and adhering to the terms of financial contracts, you can also show him that negotiation can keep financial relationships afloat during rough times. It’s often possible to have a credit card company lower your interest rate just by asking, for example, enabling you to keep paying what you owe consistently.

Lastly, working on a budget with a child even when your finances are suffering shows your child that sometimes, even people who plan well and work hard still can’t make ends meet. This is an extremely important lesson, because all too often, people believe that those who can’t pay for everything they need simply aren’t trying. If your child does the math and understands your situation, he’ll learn that honest, good people still can need a little help staying on their feet, and