I vividly remember watching my father accept change from a cash transaction when I was a child, and trying to figure out exactly how it was fair that he had handed over a $10 bill and received two $1 bills (and our lunch) in exchange. I couldn’t have been more than four or five at the time, and although we were at the zoo, my attempts to understand how money worked is much more memorable to me than any of the animals we must have seen that day. That teachable moment was one of several unforgettable experiences in my childhood financial education.

Now that I am a parent, I am thinking more concretely about how to pass on that education. Money is not a subject taught in school. It’s considered taboo to talk about money, and often people will have a sense of shame about it. On top of that, we live in a “Gotta Have It NOW!” culture where credit is easy to come by. Parents absolutely must educate their children about sound finances, but many simply do not know how.

Unfortunately, a single discussion about money is not going to cut it when giving your children the financial life skills they will need as adults. The most effective way of teaching your children is by talking money all the time. Here are some common occasions for regular financial discussions:

1. In the Grocery Store

2. When paying bills

3. On vacation

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