ABSTRACT
Parents often find it difficult to talk with children about money, and not without reason. Almost no family exists that is free from money troubles, or does not have a skeleton in the closet connected to money. Money is a key domain of vigilant care, one in which all other risk factors are involved. The benefits of these discussions go beyond conveying the basic concepts of money management. They also creates a common mental reality, in which the parents are present in the child's mind, and the child in the parents' minds. Promoting responsible money management in the child requires that they make some steps in this direction in their own lives. This does not mean that only parents who set a flawless example can exercise vigilant care. Parents can develop the ability to withstand the child's demands if they set this as an educational priority. Talks about allowance are important periodic events in the parent–child relationship.
