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15 Things A Personal Finance Expert Suggests Parents Do To Help Their Kids Be Good With Money

Even if you're not a financial pro, that doesn't mean your kids can't be.

I like to imagine I was raised to be financially intelligent (thanks ma and pa) but now that I have a kid of my own, I was curious what an expert had to say about raising kids to be good with money.

So I chatted with Beth Kobliner, the New York Times bestselling author of Make Your Kid a Money Genius (Even If You're Not).

Here are her tips:

1. Start talking about money early on.

Little boy counting coins

2. Show them how money works and teach them the difference between wants and needs.

3. Explain to your kids what you do to make money.

4. Take them to set up a bank account and explain how banking works.

Little boy using an ATM with his grandmother

5. Teach them how to wait, which will teach them how to save.

6. Don't use money as the reason why you won't buy them something.

Woman at the grocery store with her child

7. Review the pros and cons of allowances and do what feels right to you.

8. But no matter what, don't tie their allowance to chores.

9. Encourage them get a job early, explaining that the money they make is theirs to use how they want.

Teenage babysitter reading to a younger child

10. When they get their first paycheck, take the time to explain how taxes work and why putting money in a savings account is smart.

11. If college is part of the plan, start college financial talks as early as eighth grade.

Person wearing a cap and gown holding a piggy bank

12. Do your best to keep money from being associated with guilt or stress — and be open with your kids about your financial situation (to a degree).

13. But keep in mind there are a few boundaries that shouldn't be crossed.

14. Involve your kids when you purchase big-ticket items.

Family unpacking the car for a fall picnic

15. Finally, don't let their gender get in the way of how you talk about money.

Do you talk with your kids about money? Share your experiences (like what's worked and what hasn't) in the comments!

And for more stories about life and money, check out the rest of our personal finance posts