Each generation learns the lessons of life over and over again.
The things we learn never get converted into DNA to be passed down the blood line – we have to discover for ourselves what it takes to go through adolescence, how to build relationships with others and how to bring up children of our own.
As children, we never believe our parents could ever have had the same experiences as us - and as parents we struggle to show our children how much we do know about what they are going through.
So the idea of telling our kids about money and expecting them to listen to us may be the wrong way of going about it.
If, however, we give them direct experience of dealing with money – and the true value it has then they might just get to understand.
The sooner they get to feel what it’s like to complete a hard task and get paid for it, what it’s like to be cheated out of or lose money, or the desire to save up for something they really, really want without just getting a handout then the more they will learn about money.
As my old man says: easy to spend, hard to make.
Rupert Lee-Browne is ceo of Caxton FX.
What we fail to teach our kids about money by Andy Golding and The Crowd will be published by Searching Finance in December 2011