Eight Tips for Talking to Your Kids About Money

It's not always easy to talk with your kids about money. But by preparing yourself, you can help make the conversation a good one.

You can bet your children will be interested. Young people view managing money as a symbol of maturity and independence. Discussing personal finance with them shows that you see them as responsible young adults.

To help ensure a successful conversation, keep these tips in mind.

1. Approach the discussion with a positive attitude.
2. Set a tone of confidence, openness, and trust.
3. Laughter always helps. Lighten the mood with a joke.
4. Make the talk an equal exchange, not a lecture.
5. Ask plenty of questions, and listen carefully to the answers.
6. Don't talk down to your child.
7. Don't bring up old financial disagreements you may have had with your children.
8. Make sure your kids know they can always turn to you for financial advice, information, or help.

To get the process started, involve your children in some of your family's typical financial matters: