Think about where you are today as far as your financial standing, and then remember how money was mentioned or viewed when you were a child.
The correlation might just surprise you.
If you're something of a financial wiz as an adult and have a pretty good handle on your money, where it sits and how it is invested, then you probably were the kid who tucked away his allowance in a perfectly placed piggy bank on your nightstand.
Then, there's the flip side.
If your parents put little emphasis on the value of a dollar, you might find yourself struggling to get your financial portfolio put together or make much sense of your fiscal future in regard to a budget, savings or retirement.
That commentary begs the question: when should you start talking to your kids about money?
There's no black and white answer, but the seeds for success in the financial realm are planted as soon as mom and dad start dishing out a few dollars every week in relationship to chores, which can be something as simple as washing dishes, doing laundry or mowing grass.
By giving kids those aforementioned tasks attaching the completion of them to financial gain, parents are placing value on work ethic and, of course, money in hand. Kids likely will associate hard work and money as one in the same, and thus not be overtly ready to spend haphazardly given that they worked tirelessly to get it.
You'll also see more progressively thinking parents take the money their kids receive as part of birthdays or parties and put it aside. If children want to buy themselves a toy or gift, mom and dad will make sure junior uses his own money, thus helping he or she understand how and when to spend money wisely.
As long as you’re teaching the tools of how to handle money, why not go a step further and broach the subject of starting a savings or checking account?
Kids, at a reasonable age obviously, having direct access to money they've earned and teaching them how to budget their expenses is a fantastic way to start this process at a younger age. The checking account is especially powerful and potent, since kids have a transaction ledger or online access to truly see how spending and earning go hand in hand.
This beats the alternative of mom and dad, even if they're financially well off or able to provide everything for their kids, simply plopping down plenty of cash for their children no matter how much the price tag.
Call it spoiling or giving kids every advantage you think they deserve, but ultimately it could be the difference between a remarkable, money savvy planner and a person who can't manage a modest amount of money once they're detached from their parents.
Forget the empty nest syndrome, mom and dad. You're cultivating kids turned adults with nothing but empty pockets.