As a person with a background in personal finance, I am embarrassed that I haven't shared those skills with young relatives. So even though I have no kids, any money smarts my nieces and nephews have didn't come from me.

So when I hear that parents have difficulty talking to their kids about money, I have nothing but empathy. According to a T. Rowe Price survey, 71% of parents are reluctant to talk to their kids about money. 

There are many books about teaching kids about money, but I question that a book is the most effective tool. I prefer many of the experiential Share Save Spend tools by Minneapolis financial educator and author Nathan Dungan.

Americans are more likely to spend large blocks of time researching a vacation than looking into the finer points of money management. So when I saw that Kiplinger had compiled a short, practical list of 10 Things Every Kid Should Know about Money by Age 18. I saw it as an excellent starting point for busy parents.

The tips are written by Janet Bodnar, author of many books about kids and money, including "Raising Money-Smart Kids." Each tip includes relatively painless ways to accomplish the goal based on how old the child is. It is easier for a 16-year old to understand saving for college than a 6 year old, for example.

Some of Bodnar's tips include:

How to save for a goal

How to manage an allowance

How to explain they can't have everything they ask for

How to be generous

How to spend smart

How to stay away from debt.

Good luck, parents.

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