When Should you Begin to Teach Kids about Money?

A client recently asked me about when is it the right time to begin teaching kids about money.  It was a great question not so easily answered.
The research would suggest that the earlier in life that the lessons begin the better.   It would also suggest that a parent’s own personal habits and philosophies influence the child’s.
I see 2 trends that are working against us in this endeavour.  The growth in 2 income households largely translating into higher disposable income and a decrease in the cash transaction.  The higher income makes it easier to just say yes especially when we you are tired at the end of the day.   What is taught when everything we buy is done with a swipe of plastic?
So, I turn to other sources for inspiration.  A few of the ideas that I came across that made sense to me include;
How can you go wrong with allowance for chores?   Making beds, cleaning rooms, helping with laundry, washing dishes, setting tables etc..  Work at any age increases self-esteem and the reward is money for a goal.  Take it one step further with multiple piggy banks or jars.  At minimum, 1 for savings (10-20%), 1 for education (10%), 1 for donating (10%) and as many needed for other savings goals.  Allocate special occasion (birthday, Christmas) monies the same way.
Involve them in setting up a bank account early.  I still remember becoming a Little Leo when I was a tot and given the growth in the internet most major banks have tutorials for everyone.  A good place for their long-term savings and out-of-sight, out of mind.
Head to the grocery store with your list, calculator and cash money.  Take less cash than you need for everything on the list.  Discuss how much each item costs to buy and why you are buying it.  Make decisions on what to buy, how much to buy and just as importantly what can wait for a sale.
Learn to say No.  Years ago kids wouldn’t dream of asking as they knew their parents couldn’t afford it.  In recent years, most kids became pretty adept at getting what they wanted.  Be the parent not their best friend.
Funny?  The list above looks a lot like the list I remember of my youth.  I guess our parents (and our parent’s parents) had it right.