Is it time for you and your child to have “The Talk”? No, not that talk. A frank discussion about financial responsibility. This ongoing dialogue involves goal-setting and a bit of fun based on these foundations:

Money Doesn't Grow on Trees. Rather than providing money to your child whenever she requests it, experts suggest establishing a reasonable weekly allowance contingent upon her successful performance of certain chores such as doing the laundry or mowing the lawn.

Delayed Gratification. One of the most useful lessons a child can learn is how to save for something she wants by setting priorities and goals, and building for the future. For more costly items, you might help out by matching whatever she raises or saves.

A Penny Saved. Help your child open a savings account or, if she is very small, get a piggy bank. Children will be less apt to spend impulsively when they see the balance grow. Explain the concept of setting aside a portion of earnings for the future.

Generosity. By the same token, you may want to teach your child to contribute a portion of her earnings (say, 10 percent) to the charity of her choice or to a micro-loan fund. Those that provide specific information about recipients provide a lesson in the positive value of money.

The most important lesson comes from your behavior. Kids learn best by observation, and if they see you being careful with your money, they’re bound to get the hint.