4. "The car needs to be washed. What do you think that's worth?" The purpose of a child's allowance is so they can learn how to spend, save, and use money. If they want or feel they need more money than the allowance provides, there are additional ways to get it. Doing out of the ordinary jobs around the house, over and above their normal chores, is one way for them to earn additional income. This will help them internalize the concept that if they want more they can work more.

5. "Help me figure out the tip." This type of money talk helps children in several ways. In addition to providing a real life example to use basic math skills, it also gives children the awareness of the cost of the meal so they can appreciate what is being provided for them. Learning about tipping also gives children the message that being appreciative for the service provided is expressed in the form of a tip.

6. "Oh, I think you gave me the wrong change." Allow your children to overhear you telling cashiers or waiters when the change is incorrect. If you were short changed it models sticking up for yourself. If you received too much change, your words demonstrate honesty and communicate integrity around money.

7. "Our charity jar is almost full. What should we do with the money this time?" Teach the charity habit by contributing to a charity jar regularly at allowance time. Set a goal as a family as to how much you want to accumulate during a specific time frame. Watch as the jar fills up with the individual family contributions. Decide together where to donate the money. Give your children opportunities to have input on this important decision.