My kids have to maintain good grades. They have to be involved in activities. They have to report to me how thing are going. I watch for any activity that would steer them wrong - drinking, drugs, etc. So their skin in the game is knowing the money won't be there if they don't do their part.

A smart couple with a healthy financial relationship is always talking about money and how they're handling it. If there's a medical emergency or a job loss, talk about it. If there's a windfall, talk about it. Your financial situation is a constantly changing thing.

If you haven't saved, your child may have to work. But do what you can to NEVER take out student or parent loans.

I love teaching people how to handle their money and I've built a brand on that skill.

Having kids doesn't mean they would have taken care o you.

Having fun time is a good use of your money.

The sad thing is many people learn how to manage money after they've made a lot of financial mistakes, some that take decades to fix.