Money, teach your childWhen you think back over your adult life, do you find there are some financial decisions that you regret? Are you passing on what you have learned to your children? Or are you too ashamed to discuss money with them because you know you have made some mistakes? Your children will take cues from you even if you don’t discuss money with them so you might as well share some life lessons with them. offered "4 Easy Steps to Raising Money-Smart Kids " to help guide parents who want to impart financial wisdom to their children:

“Parents are hands-down the most influential force in any child’s life, and studies show that this extends to money management. Yet the money talk still doesn’t happen in about half of all households.”

Give them ownership over their spending money:

Finance expert Jonathan Clements says if you give children an allowance and do not let them have more if they overspend, they will start to learn lessons in financial responsibility.

Tell them family stories with financial lessons:

This means telling your children about times when a family member practiced good spending habits and times when family members did not because there are lessons in both. Even they sigh or groan, tell your children about your own financial struggles so they will "understand they must earn their lifestyle."

Be a financial role model: says, "Even if you are not a financial whiz (and who is?), you can set a good example by paying your bills on time and staying out of debt troubles."

Don’t overpromise:

Clements told his children the kind of support he was willing to give them for college and weddings so they grew up aware of how much they would be able to lean on him in these areas.

photo credit:davebarger