There's good reason "kids and money" is more than just a timely topic right now as the U.S. kicks off financial literacy month, says family money skills expert Nancy Phillips. "Every area of our children's lives will eventually be impacted by how they learn to manage their money - their health, the way they eat and exercise, the education and careers they pursue, their relationships and of course, their retirement years. Parents I speak to all over the world are concerned about how they are going to teach their children the necessary skills they'll need to thrive and not go broke in adulthood."

This is why Phillips, a mother of two young children and founder of DollarSmartKids Enterprises Inc., has created a framework to make it easier for parents to teach their kids the most essential financial building blocks or "milestones." Parents can use the framework with their children during daily life right from the pre-school years through high school.

Phillips says, "Learning good financial habits early on can transform a child's future. As parents, we all need a clear and current roadmap to follow so we can help our children get the hands-on lessons they'll need to succeed in the real world, a place that's very different now than it was even ten years ago."

Adults often know what they "should" do with their money, but don't do it. Habits and beliefs established early on are often the reason why. "Teaching kids money skills is very similar to teaching them a sport," comments Phillips. "You start with the basic fundamentals and show the children how to practice them during daily life. The kids learn more and more from their experiences over time and from consistent guidance. This allows them to achieve these "milestones" and then learn more as they grow and mature. Parents don't need to worry about being investment or math geniuses; the principles are universal and straightforward. However, the skills must be taught and practiced for the children to benefit in the long-term. They don't learn by having somebody else do it for them. An added benefit is that many parents comment to me how they are learning to create good habits for themselves, while they teach their children!"

The recently released audio program, How to Teach Your Children the Most Critical Financial Life Skills, includes a workbook illustrating the key money milestones in the Zela Wela Kids Financial House©. Other topics addressed in the program include: damaging mistakes for parents to avoid when teaching money skills, the Mom Effect, answers to common questions regarding allowances, habits of the wealthy and how to have the credit card "talk" with teens.

"If we can increase the financial capabilities of our youth, it will significantly affect not only their own personal financial well-being but that of their family and society as a whole. These milestones have been developed to help parents give their children the financial skills they will need to achieve their biggest goals in life," concludes Phillips.

The audio program How to Teach Your Children the Most Critical Financial Life Skills is now available globally at http://www.zelawelakids.com/store/