Five ways you are hurting your kids financially

Saving for your child's future doesn't guarantee their financial future. Your behavior is key. Here are five ways you may be unknowingly sabotaging your child's future finances:

Not talking about money

Children who don't have conversations about money at home are less likely to understand the value of a dollar, and many of them grow up uncertain about how to manage money. Even if talking about the family's finances makes you uneasy, you should still make an effort to teach basic personal finance skills.

Being a poor example

Good financial habits start with good financial modeling by parents. Some parents still have poor money habits and troubled finances, and their children pick up that. Nearly 1 in 5 parents in a Bank of America-USA Today report admitted they don't follow the advice they give their kids.

Hiding your arguments over money

Arguing about money in front of your kids can be beneficial. Just keep it constructive. Children who witness their parents' financial disputes are more likely to feel smart about money and more confident about what their parents taught them, according to research from T. Rowe Price.

Cards are faster and more convenient, but shunning cash isn't a good idea when you're raising kids. Most teens don't even know the difference between credit cards and debit cards, so they're generally not going to know whether you're using your own money or credit. Don't make plastic the easy answer.Not clarifying wants vs. needs

Say, for instance, you have a major presentation coming up. You might say, "It's important that I make a good impression. I need to get a new suit for this presentation." Your child could be getting the message that if you buy nice things, you'll impress people and get what you want.