I read an interesting article this morning titled, "Having that special talk ... about money" that discusses the merits of informing your children on the wise use of money prior to them leaving for college. While the article made some good points encouraging parents to advise their children on pitfalls of credit cards and the lack of personal financial accountability, I was left at a loss as to why this "talk" hadn't happened much sooner.

Some months ago, I wrote a post titled "15 Strategies for teaching your children to save" that touched on some key foundational thoughts. The main one was that teaching a child at a young age how to handle money was going to be far more beneficial than waiting for them to leave home before training them in fiscal matters.

I would go so far as to say that this is a key issue that parents have the responsibility for teaching their children. Much like educating them about sex, drugs and rock 'n' roll, handling finances will play a major role in their lives. It's far better to have been grounded in some wisdom long before it becomes an issue rather than closing the gate after the horse has already bolted.