When did you start explaining money to your children ?

They both grew up in the 70s 80s with a good understanding of how money worked from a young age.
When they were 12 years old they were given an allowance for clothing and managed this and added to it from casual jobs until they left home.
I can honestly say all through University they never asked us for any money ever. They both worked all the time as well as studying.
Both have credit cards as adults and pay off whatever they spend in full at the end of the month by direct debit as I do.

When my sons were small, the supermarket had scales for the fruit and vegetables (which weren't pre-packed). Just to keep them entertained and to stop them running around the shop as if it were a playground I got them to select some e.g nice looking tomatoes ~ weigh them and then we would work out roughly how much it would cost. At the time I didn't appreciate how valuable this was as a life skill on so many levels. From about the age of 3.

Pocket money from a young age, when they got to about 10yrs old they could earn more by doing various jobs around the house and garden.
When they were 13 they were given a monthly allowance, out of this they paid for their clothes and all the other things they wanted, including all gifts they wanted to buy, the only things we paid for was their School Uniform, after the first month it worked well, but the first month they went out and blew it all the first week, that was a swift learning curve!
When they were older they got Saturday jobs to supplement their allowance.

PS, neither of them have Credit Cards or debts.

Bubbe, I agree with you. It is not formally Being Taught About Money By Their Parents, but the attitudes and behaviours they pick up as they go.

We had a classic example of this yesterday. DGS, 12, was explaining why he always wins at Monopoly and his father doesn't. 'Daddy', he said 'spends all his money buying every house he can, but when he lands on a good one, he finds he has no money left. I just buy good houses and never spend all my money'.

This actually reflects his parents attitudes to finance, to be careful and never spend every penny they have.

Statutory Statement I understand that those living in poverty do not have this option.

Driving with no 2 son’s teacher and 3 children in the car an argument ensued in the back seat with one child being so sure they were right they said they bet the others one dollar.
Despite me telling them gambling was wrong my son upped the stakes by betting one dollar U.S. Rather embarrassed I said be quiet, you don’t even know what one dollar U.S. is.
Back came the indignant reply “Yes I do. It’s two point four T.T.”
The correct exchange rate ?.
The children were five years old.
Unsurprisingly my son now works in the banking sector.