Remember that kids learn from watching parents — be aware of the messages you send and the examples you set. You should have a family budget, and include your teens in regular money meetings. Your meetings should be practical and informative. Be transparent.

– Teach your children how to use a checkbook: writing checks and keeping accurate records. Show them how online banking works, but don’t share your password!
– Taxes are a part of life. They’re not fun, but they’re here to stay. Explain that at their core, the idea of taxes is a great one. [Introduce ]( kids to the concept of taxes.
– Continue to teach the [difference ]( *need* and *want*. It seems that our kids learn to say “I need it” before they learn their own name. A *Need*: Something without which your daily living would be impossible, or very, very difficult. A *Want*: Something that if you had, you’d be happier momentarily, but if you didn’t, you could live without.
– Talk to your older kids about investing and the [stock market]( It is part of the big picture of money as a life skill — and it’s an empowering skill — a real adult activity that teenagers can take an interest in.
– Teaching the [time value of money]( is a must — explaining the real cost of purchases.