While you don't necessarily have to talk about math, you should have conversations and explain some of the basics. Not only that, understanding money concepts is the foundation of financial literacy — which is sorely lacking in the U. More from Invest in You: How to teach your kid to think like an entrepreneur Money pro Mellody Hobson: Financial illiteracy is 'dangerous' for society Your kids don't think your money skills measure up. In the first of our age-based, four-part series on teaching kids about money, here are lessons you can use with kids ages 5 to 9. With young kids, start having regular conversations around the dinner table about things like savings accounts and budgeting. You can talk about different types of money, the difference between checks and credit cards and cash," said Henske, who developed and runs his firm's smart-money kids program.
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