If I get one question consistently, it’s this one, “What’s the best way to teach my kids about money?” I have a simple answer…Do whatever you can to make it their idea. I call this using “Teachable Moments” to introduce financial education, or anything else for that matter, to your kids.

Here is a section from The Ultimate Allowance to help you with those teachable moments.

As adults and parents, most of us realize that, in life, there are teachable moments when we are open and receptive to relevant information, and there are moments when it doesn’t matter who is attempting to teach us, we are simply not willing, or able, to take in the information.

Children are no different. You probably know that sometimes it’s just flat out impossible to get your kids to learn something (or even listen) as long as you are the one who is doing the teaching. But have a friend introduce an idea or concept to them and they are open and receptive to the information.

For any information, it’s critical that you introduce it at the best possible moment. First, find a time when it makes sense to bring up the subject of money. Right after they’ve had a fight with a friend or lost a valuable toy or broken a vase is not that time!

I’ve heard it said that people don’t change until the pain of change is less than the pain of staying the same. Watch for a time when your child has had, or is about to have, an experience involving money. It can be either a positive or negative experience; you never can tell when a child will be receptive to new information.

When you’re deciding on the perfect time to teach your children about any aspect of money, wealth creation or any other life skill, here are two questions to ask yourself first:

• Is what I want to talk about with my child relevant to the current situation?
• Will the information I’m about to present provide a solution to a problem or situation my child is experiencing?

If the answer to these questions is Yes, then you probably have a teachable moment on your hands.

Once you think you have a teachable moment, the second step is to enroll the child in the information you want to give him. Before you start talking to him, ask him about the subject matter instead.

It’s important to make what you’re about to say relevant to your kids in some way. If it isn’t, they won’t listen. I’ve found it best to use another one of the powerful techniques we use in all of our programs called Enrolling Questions. Enrolling Questions help us engage and enroll people of all ages in the learning process.

As the name implies, this technique involves figuring out how to enroll the child in what you’re about to teach him, i.e. get him excited, engaged, listening and wanting more. It’s critical when you’re working with a group of kids to enroll 100% of them. Sometimes you have to ask several enrolling questions to get 100% but, in the end, it’s worth the effort.

Enrolling questions about money look something like this:

• How would you like to learn a way to make sure you always have money for things like that (meaning something they want you to purchase for them)?

• How would you like to make sure you always have plenty of money for the things you want and need?

• How powerful would it feel to be in charge of your own money instead of me controlling it?

• Picture this…what if I told you that I have an idea that will make it so you never have to ask me for money again?

• How would you like to learn how to take care of your own money now so this never happens again?

• How would you like to grow up and work because you want to, not because you have to?

• I see you like to help people. What if I could show you a way to have enough money to help anyone you wanted?
• How would it feel if…(fill in the blank with any kind of situation or scenario you’d like to paint for the child that you know she might want or enjoy).

• What would happen if…

• How would you like to…

• Imagine what would happen if…

• Imagine what it would be like if you could always…

You get the idea. An enrolling question gives just enough information to make the other party interested in what you’re about to say, but doesn’t give away the punch line (the subject matter). Remember, sometimes you have to ask several enrolling questions to get a person’s interest at any given time. (Psst. This technique works great in our adult relationships as well!)

Since you know your child’s interests, passions and hot buttons better than anyone else, it should be fairly easy to come up with a few enrolling questions that will get his attention and get him to ask, “How could I do that?” or “What do you mean?” or “Can you tell me more?” Any probing question on his part means he wants more information and you’ve hooked him.

Now that you have a teachable moment, and you have ’em hooked, it’s time to share your information. But do it in small doses; don’t try to teach them everything at once just because they’re interested and you finally have their attention. All in due time, as my mom used to say.

If someone sent you this article and you’d like to read more interesting tips, trick and philosophy on money and life, sign up today for Elisabeth’s FREE Weekly E-Zine, Financial Wisdom with a Twist and FREE monthly teleseminars at UltimateAllowanceBook.com.