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Considering talking about money is often not something most of us like to do, or is considered appropriate to do, you may have been avoiding talking with your kids about money.

The thing is, even if you aren't talking about it, no doubt your kids are thinking about money, and have either overheard you talk about it (and perhaps not in a happy way), hear the words you use about money (we can't afford that), and they will be watching how you spend your money.

It's likely they have questions about money, and considering it isn't taught in most schools, their knowledge will be gathered through observation.  This knowledge will be filled with assumptions and gaps that they can't fill with their limited life experience so far.

So, it is VERY important to talk with your kids about money - they want to know and they also want to be included and involved.  

Here are the 3 fundamentals to consider when approaching these conversations:

1. Clarify what is a NEED versus a WANT - kids will always want things that they think they need;
2. Shift your language from LACK (e.g. we can't afford it), to CHOICE (I'm choosing to spend money on x rather than y because...) - move toward what you want, rather than away from what you don't want.  This difference is powerful;
3. Encourage them to become financially independent - as a goal for them to aspire to.

It's also important to recognise that you are likely on your own learning journey when it comes to money.  You don't need to have all the answers in order to teach and guide you children about money.  You can also be honest with them and say that you are also learning, and they can go on the journey with you.