NEW YORK (TheStreet) -- No matter what the age of your school-age child -- elementary, middle school, high school or college -- linking your back-to-school planning with a talk on money management skills is a good idea.
"As a parent, the list of lessons you want to instill in your children is likely endless," she says. "Wherever financial values may fall on this list, it's important to keep in mind that developing an understanding of finances and the opportunity to practice managing money from an early age through their teenage years can help your children develop a healthy relationship with money as they grow older.
There's no "silver bullet," de Baca says, but helping educate your children about finances early and often can go a long way in helping them become financially responsible adults.To educate your kids about money -- no matter what their school age -- de Baca advises taking these steps: Allow your elementary school-aged child to make a few simple financial decisions. It's not easy lecturing kids about eating vegetables or going to bed early, but teaching the value of money is easier if they have a chance to earn it and spend it, de Baca says. "They'll learn quickly about making trade-offs and saving their money for something they really want. Letting your children earn small amounts of cash in exchange for help around the house, and providing opportunities for them to make their own purchasing choices, is important."
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