Marquerita Cheng: Hi! My name is Marquerita Cheng, and I am a member of Financial Planning Association. Today I am going to offer suggestions for teaching kids money skills that they can carry with them for the rest of their lives.

As a parent, you have a lot to share with your kids about earning, saving, spending and managing money responsibly. Many Elementary and secondary school systems offers some money education, but ultimately you the parent play an important role in teaching your children about financial planning.

First you should start talking to your kids about money as soon as they can say, "I want.

" Watch your child's behavior, see what they want to buy, ask them how they plan to pay for things? This is your opportunity to evaluate your effectiveness in communicating your money messages. "I want," and "I need" are always opportunities to for you to teach. Some pretty serious money issues can come out of the mouths of kids, so be sure you are listening for them. Also teach your kids to make spending wish-list through out the year. These are not only lessons in delayed gratification, but prioritizing needs and wants. Next, if you want your kids to handle money effectively as adults, give them hands-on practice as kids. Allow them to earn money, manage it and learn from experience. Then one of the best things you can do to help your children become financially stable as adults, is to instill in them the habit of saving money. Whether it's a Piggy bank, an enveloped labeled "Save" or savings account. They need to know there is a place to put pocket change they don't spend. Finally, allow your kids to make their own spending decisions with their money. A child will make mistakes with money; they'll lose it, spend it on the wrong things, or possibly give it away to others at the wrong time. It's generally a good idea to ask the mother what is the right use for the funds and what they might do the next time.

Learning to manage money, is fundamental in today's complex society, and can give your children increased confidence and self-esteem.

Taking time to talk and playing with your children, increases their self-esteem and confidence, it benefits you as well as the child.