The best thing to do today to teach money to kids

• The best way to teach kids money is to incorporate prices and expenses into everyday conversations.
• According to Laura Levine, a financial literacy expert, who spent 10 years in finance before becoming CEO of the JumpStart Nonprofit Coalition for Financial Literacy.
• You do not have to be a finance expert to start teaching the basics, she says. Start with things like price comparison and watch the conventions like tips.
• Visit the Business Insider home page for more stories.

When it comes to teaching finance to your kids, there is no better way to start than a conversation.

Laura Levine, President and CEO of the JumpStart Coalition's Children's Financial Literacy Group, says that integrating money conversations into your daily activities is the best way to start teaching the company. 39, money to your children. And, she says, children can begin to understand these concepts in kindergarten.

By incorporating these conversations into everyday scenarios, children can begin to see relevant examples. Levine, who has worked for FINRA and NASDAQ for 10 years, says that there are many ways to start and that buying school supplies can be a great starting point for activities such as the price comparison.

"You're in the aisle of school supplies and you say," Well, wait a second. If you get this generic mark, you can get more than the mark, "she says as an example." If you just get started and say: Here's the list of the top brands. shopping, we have to take things and go out ", you do not really discuss.

By discussing financial issues as simple as buying school supplies, Levine explains that it's easier for children to understand these concepts.

For his son, it started with miniature cars. "There are Hot Wheels cars and Matchbox cars, and they are pretty much the same, but one costs $ 1.05 and the other $ 1.10," Levine said. "I mean, it could have been about five years old and he realized that they were not costing the same price."

There are many other places where you can involve your child in a financial decision, even if they are small.

"You sit in a restaurant and the check arrives," says Levine. It's a topic of conversation to ask, "Well, how much should we tip? Why do we tip?

She says that incorporating discussion into everyday life is a powerful way to help children understand current concepts. "These are not great speeches, like birds and bees and all the rest," she says. "But rather, these are the everyday conversations."